AUSTIN, Texas – According to data released today from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate increased slightly from January 2024 to February 2024, and is now at 3.7%**, as represented by 54,825 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below the Texas (4.4%) and national rates (4.2%) in February.
- According to TWC, the Austin metro gained 16,300 jobs from January to February. The region has experienced an annual growth rate of 2.8%, representing the collective addition of 36,500 jobs since February 2023.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** increased slightly to 3.6% from January to February, representing 31,604 unemployed residents.
- Note: The unemployment data released today is not seasonally adjusted.
February Job Growth/Losses by Industry in the Austin-Round Rock MSA:
- Monthly Increases: Industries that experienced regional job growth from January to February include professional and business services (5,700), government (4,500) and private education and health services (3,000).
- Other industries that experienced monthly job growth include leisure and hospitality (2,500), mining logging and construction (800), financial activities (600), manufacturing (500), other services (300) and information (100).
- Monthly Decreases: Trade, transportation and utilities (-1,700) experienced regional job losses from January to February.
- Annual Increases: Other services experienced the greatest regional job growth over the past 12 months with an increase of 7.1%, followed by mining, logging and construction (5.3%).
- Other industries that experienced annual job growth include private education and health services (4.9%), financial activities (4.3%), leisure and hospitality (4.0%), government (3.2%), trade, transportation and utilities (2.4%), manufacturing (1.4%) and professional and business services (1.2%).
- Annual Decreases: Information (-6.0%) experienced an annual decrease from February 2023 to February 2024.
Training the future workforce is paramount, especially in Austin’s robust and expanding job market, and this starts by engaging Central Texas high school students. Career exploration not only cultivates a skilled workforce but also begins fostering innovation and economic resilience within our community.
“Prioritizing career exploration initiatives for high school students is not just about investing in their future but sustaining Austin’s position as a vibrant hub of opportunity for those who may or may not be pursuing a four-year degree,” Tamara Atkinson, CEO of Workforce Solutions Capital Area, said. “Through Workforce Solutions Capital Area events and K-12 outreach, students can engage with a diverse range of employers to not only get their foot in the door early but lay the foundation for a lifetime of career growth and fulfillment.”
Through the services offered by Workforce Solutions Capital Area, recent high school graduates can explore summer opportunities and training for in-demand occupations all while receiving support from dedicated career coaches who can help connect them to high-growth job opportunities.
“Austin’s diversity of employers need a pipeline of talented and skilled individuals prepared to meet the evolving demands of various sectors, from technology to healthcare and beyond,” Mark Sherry, board chair for Workforce Solutions Capital Area, said. “Through the education and skill development of young individuals, we not only equip them with the tools necessary to thrive but also ensure the continued growth and competitiveness of our local industries.”
To learn more about local apprenticeship programs, internships and volunteer opportunities, visit Workforce Solutions Capital Area’s Climb the Ladder website at climbtheladderctx.com/students.
Workforce Solutions Capital Area’s three career centers across Austin are available by phone, email, or in-person to serve residents and businesses impacted by economic changes caused by COVID-19. Residents seeking assistance can contact 512-454-9675 or visit wfscapitalarea.com to learn about services and resources for job seekers, employers, parents, and students.
Workforce Solutions Capital Area is the non-profit organization that serves as the leadership and governing body for the Austin/Travis County area workforce system. They are responsible for the planning, oversight, and evaluation of workforce development activities in the Capital Area. Learn more at WFSCapitalArea.com and follow along on Facebook, LinkedIn, Instagram, Twitter and YouTube.
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*The Austin-Round Rock Metropolitan Statistical Area includes Bastrop, Caldwell, Hays, Travis, and Williamson counties.
**Unemployment rates listed are not seasonally adjusted.
***The Capital Area Workforce Development Area includes Travis County.
