Austin Skyline

December 12, 2019 Comments Off on Austin Unemployment Rate Remains Near Historic Lows Views: 387 Austin, Texas News

Austin Unemployment Rate Remains Near Historic Lows

Order Reprints...

Austin’s employment rate remained at 2.7% in October 2019, unchanged since July 2019, and remaining near historic lows, with an annualized job growth of 2.5% from August-October. While the Federal Reserve Bank of Dallas’ Austin Business-Cycle Index showed continued expansion in the economy, Fed analysts pointed out that moderation in the index was likely due to a tight labor market. The index grew 6.3% on an annualized basis, slightly above its long-term trend of 6.2%, but the lowest rate since December 2016.

Overall, Austin added a net 6,900 jobs over the three-month period, with the construction sector expanding by 1,279 net jobs. Leisure and hospitality added 1,555 jobs; government increased by 1,780 jobs, and professional and business services increased by 1,700 jobs.

Read more at Dallas Fed


Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter

Tags: , ,

Comments are closed.

Send this to a friend