New data from the Texas Workforce Commission shows the unemployment rate for the Austin-Round Rock area did not change from May 2023 to June 2023, and is still at 3.5 %. The new report shows 50,414 unemployed residents in the area. Key takeaways include:
- The Austin metro unemployment rate remains below the Texas (4.2%) and national rates (3.8%) in June.
- According to TWC, the Austin metro gained 10,800 jobs from May to June. The region has experienced an annual growth rate of 4.4%, representing the collective addition of 56,300 jobs since June 2022.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region, which includes the Capital Area Workforce Development Area, remained the same at 3.4% from May to June, representing 29,328 unemployed residents.
- Note: The unemployment data is not seasonally adjusted.
June Job Growth/Losses by Industry in the Austin-Round Rock MSA:
- Monthly Increases: Industries that experienced regional job growth from May to June include professional and business services (3,800), private education and health services (2,400), and mining, logging and construction (1,600).
- Other industries that experienced monthly job growth include manufacturing (1,400), financial activities (1,000), information (700) and other services (700).
- Monthly Decreases: Government (-600) and trade, transportation and utilities (-200) experienced regional job losses from May to June.
- Annual Increases: Leisure and hospitality experienced the greatest regional job growth over the past 12 months with an increase of 6.6%, followed by professional and business services (6.5%).
- Other industries that experienced annual job growth include mining, logging and construction (5.5%), manufacturing (5.4%) and private education and health services (5.4%).
- Annual Decreases: No industries experienced an annual decrease from June 2022 to June 2023.
