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Austin unemployment rate falls to 7.1%, adds 4,600 jobs

Posted April 19th, 2010 by guy3

Friday, April 16, 2010, 10:18am CDT

Austin unemployment rate falls to 7.1%, adds 4,600 jobs

Austin Business Journal

The Central Texas unemployment rate fell for the second consecutive month in March, hitting about 7.1 percent from 7.3 percent in February, the Texas Workforce Commission reported today.
The Austin-San Marcos-Round Rock area also added about 4,600 posts from month to month, but the total 760,300 nonagricultural jobs were still down 500 positions year-over-year. The Central Texas unemployment rate was 6.6 percent in March 2009.
Leisure and hospitality added the most positions from February to March, growing by 2,100 jobs, followed by government, which grew by 1,400. Mining, Logging and construction and professional and business services were the only industries that took major hits from February to March, both shedding 600 positions.
About half of the region's industries were down year-over-year, though leisure and hospitality increased 6,000 positions. Government also experienced a bulk of the increase from March 2009 to last month, adding about 2,800 jobs, though education and health services sectors also added 2,700 positions. Business and professional services lost the most positions year-over-year, dropping about 3,800 jobs.
The state unemployment rate was stable at about 8.2 percent, still far below the national 9.7 percent rate.

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Forbes: Austin best economic recovery in U.S.

Posted March 8th, 2010 by guy3

Austin Business Journal

The Austin-Round Rock area tied for first on a list of large metros where the recession is easing.

Central Texas tied Washington D.C. in the ranking that compiles job growth and real estate industry improvement, among other indicators. Washington has one of the lowest unemployment rates in the nation, 6.2 percent, and the city produced more goods and services than another other in 2008.

Austin has also maintained relatively lower jobless rates, though the number increased to 7.6 percent last month from 7 percent, according to the Texas Workforce Commission. Statewide, the rate was unchanged at 8.2 percent from December to January, compared to 9.7 percent nationally.

Austin and Washington D.C. also benefit from their high government job generation, according to Forbes. The number of Central Texas jobs increased just shy of 1 percent between 2007 and 2009, more than any other city included in the research.

Dallas came in second on the ranking behind Austin. The number of jobs there are expected to increase more than 7 percent in the next three years. San Antonio and Houston also made the top 10 list.

Job growth projections were based on information from Moody's. The listing also considered median home sale price changes and Metropolitan Gross Domestic Product.

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