Central Texas Report on Jobs

Things are looking good for Austin & the surrounding areas, here are some highlights from the Austin Chamber of Commerce’s most recent report:

Job Growth

  • Austin ranks number three in the nation in job growth with a 3.5% change over the last 12 months resulting in 28,200 new jobs. Public and all private sectors added jobs.
  • Texas had a combined public/private sector job growth rate of 2.6%. Four out of the top 10 cities for job growth were in Texas with Houston the number one growth market in the US
  • US showed an overall job growth rate of 1.4%

Number of Jobs

  • Austin has now added 44,200 jobs from it’s peak employment on November 2008
  • Texas has added 248,800 jobs from its peak employment on November 2008
  • The US remains 4.3 million jobs short of peak employment set on November 2007 (60 months ago!)

Unemployment Rate

  • Austin has the second lowest rate of unemployment out of 50 largest metros at 5.3% vs 6.6% this time last year. (Houston by comparison dropped from 7.7% last year to 6.2% this year. Within the AUSTIN MSA, Travis and Hays counties have the lowest unemployment rate with 5.2%).
  • Texas’s unemployment rate is 6.3% compared to 7.6% last October.
  • The US October unemployment rate is 7.5% vs 8.5% last year.

Employment by Industry

  • Austin’s fastest growing segment over the last 12 months: Professional and Business Services – 10,700 jobs (or 9.1%)
  • Texas’s fastest growing segments over the last 12 months: Both Construction and Natural Resources grew by 7.1%. 

Link to article: http://www.austinchamber.com/do-business/data-research/economy-perspective.php?utm_source=Focus+eNews+-+November+27%2C+2012+&utm_campaign=FOCUS+-+November+27%2C+2012&utm_medium=email 

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