Austin Area Economy Better Than TX, National
Austin-Round Rock area adding jobs, but jobless stats rise slightly
By Richard Whittaker,
11:06AM, Fri. Jun. 20, 2008
According to new figures, the Austin area is adding jobs, but the unemployment rate is also rising.
In a press release, Workforce Solutions aka the Capital Area Workforce Board, says the Austin-Round Rock Metropolitan Statistical Area (MSA) has added 2,200 jobs in the last month. The biggest chunk, however, has been in the always well-paid leisure and hospitality industry. This still doesn't mean the area (which includes Bastrop, Caldwell, Hays, Travis, and Williamson counties) isn't taking am economic hit. Over the month, the unemployment rate rose from 3.3% to 3.7%, although it's still below this year's high in January of 3.9%. That's below the Texas rate of 4.3% and the U.S. average of 5.2% for the same period.
Of course, it's important to remember that theses figures only include people that Workforce Solutions has been told about. It also doesn't say anything about wages, or how many of those new jobs are actually second, or even third, jobs being taken to pay the bills.