Friday, November 16, 2012

Austin Unemployment Rate Down

Austin's Unemployment rate decreased again in October to 5.3 percent, reports.  The data from the Texas Workforce Commission shows that construction and technology were responsible for most of the hires.
October's construction numbers were up after a decline in September and are a good indication that Austin continues to experience a building boom.  In the last year, the number of jobs in the Construction sector has gone up over 5 percent.
Many of our city's high tech occupations fall under the professional, scientific and technical services category, which was also up in October.  Over the last year, that sector has added approximately 6,600 jobs, an increase of almost 11 percent.  Local high-tech companies are reporting that they are having trouble getting workers for their positions, especially engineering and technical ones.
The unemployment rate of 5.3 last month was better than the 5.4 percent in September and the 6.6 percent a year ago.  
Across the state, we continue to have better job growth and lower unemployment that the rest of the nation.  Texas's unemployment rate, adjusted for seasonal changes, was 6.6 percent in October, a decrease over the 6.8 percent we saw in September.  A year ago, unemployment for the state was at 7.8 percent.
The U.S.' jobless rate was 7.9 percent in October, a slight increase from the 7.8 percent in September, but much lower than the 8.9 percent we saw a year ago.
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