Austin, Texas – According to data released today from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate did not change from October 2022 to November 2022, and is still at 2.8%**, as represented by 37,895 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below Texas (3.7%) and national (3.4%)
- According to TWC, the Austin metro gained 11,000 jobs from October to November. The region has experienced an annual growth rate of7%, representing the collective addition of 57,300 jobs since November 2021.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** declined to 2.7% from October to November, representing 21,684 unemployed residents.
- Note: The unemployment data released today is not seasonally adjusted.
November Job Growth/Losses by Industry in the Austin-Round Rock MSA:
- Monthly Increases: Industries that experienced regional job growth from October to November include leisure and hospitality (5,000), trade, transportation and utilities (4,600) and education and health services (1,800).
- Other industries that experienced monthly job growth include government (900), financial activities (800) and information (500).
- Monthly Decreases: Professional and business services (-2,300) and mining, logging and construction (-800) experienced regional job losses from October to November.
- Annual Increases: Leisure and hospitality experienced the greatest regional job growth over the past 12 months with an increase of 19.4%, followed by manufacturing (9.2%).
- Other industries that experienced annual job growth include education and health services (6.6%), information (6.5%) and professional and business services (3.5%).
- Annual Decreases: Mining, logging and construction jobs experienced a decrease (-1.9%).
“As we look back on this year, I’m inspired and encouraged by the milestone moments that our community has made possible through the effort and commitment to hiring local,” Tamara Atkinson, CEO of Workforce Solutions Capital Area, said. “From launching 1,000 new scholarships for career training to establishing a ‘Hire Local’ category with the Greater Austin Business Awards to honor employers that promote training and upskilling, we are thankful for the support of our elected leaders and business community for their dedication to our local workforce.”
As more new businesses move to Austin and seek out top-tier talent, Workforce Solutions Capital Area is actively working to increase the skills of our local workforce to fill those available positions from within the region.
“We’re approaching the time of year when people are seeking a life change more than ever, and we’re equipped to help job seekers find opportunities and supportive services for all stages of life,” Melanie Flowers, board chair for Workforce Solutions Capital Area, said. “We encourage Travis County residents who are setting their career and education goals for 2023 to reach out to us now and let us help navigate those crucial first steps.”
Workforce Solutions Capital Area’s three career centers across Austin are available by phone, email, or in-person to serve residents and businesses impacted by economic changes caused by COVID-19. Residents seeking assistance can contact 512-454-9675 or visit wfscapitalarea.com to learn about services and resources for job seekers, employers, parents, and students.
Workforce Solutions Capital Area is the non-profit organization that serves as the leadership and governing body for the Austin/Travis County area workforce system. They are responsible for the planning, oversight, and evaluation of workforce development activities in the Capital Area. Learn more at WFSCapitalArea.com and follow along on Facebook, LinkedIn, Instagram, Twitter and YouTube.
*The Austin-Round Rock Metropolitan Statistical Area includes Bastrop, Caldwell, Hays, Travis, and Williamson counties.
**Unemployment rates listed are not seasonally adjusted.
***The Capital Area Workforce Development Area includes Travis County.