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The tech industry continues to grow in Texas, even during hiring freezes. One of the tech giants is expanding its reach in the Lone Star State, and trade jobs are at the top of its list.
Samsung is looking to add new facilities to its already-planned $17 billion semiconductor plant in Taylor with the potential to bring thousands of jobs to the area.
Skillpoint Alliance is helping to fill some of those roles.
Governor Greg Abbott recently announced that Texas led the nation for job growth in June; however, Austin’s unemployment rate increased.
In a statement Friday, Abbott said employers added 82,500 jobs over the previous month, and Texas set a new employment record for the eighth consecutive month with 13,431,100 total jobs and 778,700 added jobs since June 2021.
The unemployment data for Austin released by the Texas Workforce Commission was not seasonally adjusted, the agency said.
As high school and college students occupy some available jobs for seasonal summer employment, there is typically a slight uptick in unemployment rates in June. This is also the time where there is a rise in unemployment in the education sector due to the end of the school year.
“Our country has a ‘two for one’ labor market ratio right now, which means there are two job openings for every one worker seeking employment in the U.S.,” Tamara Atkinson, CEO of Workforce Solutions Capital Area, said. “Locally, school districts are now ramping up their hiring efforts for the start of the next school year, and I’m seeing sign-on bonuses and retention incentives as a necessary means to fill those roles quickly or face staffing shortages come August.”
This week, 36 middle school girls have their hard hats and safety goggles on along with their power tools in tow ready to tackle new tasks.
It’s all part of the free Camp NAWIC, or the National Association of Women in Construction, which provides hands-on learning. Those behind the camp said they want to see more women make their mark in the male-dominated industry.
There are 104,159 people who work in construction in the Austin area, and women only make up about 10% of that, according to Workforce Solutions Capital Area. That’s similar to the ratio nationwide.
Unemployment in the Austin-Round Rock region sits at 2.7 percent—on par with pre-pandemic levels. As a result, many industries are struggling to fill job vacancies. Now employers are trying to lure new workers with incentives, higher pay, and sign-on bonuses.
Workforce Solutions Capital Area says the region is doing well economically and many businesses will continue hiring for the foreseeable future.
It’s a long-time trend that tech workers earn salaries that double or even triple the average salary of other workers in the area, and Austin is no exception.
Austin techies are averaging $150,026 annually compared to $78,224 for all other industries. It’s following a nationwide pattern where tech salaries average more than 65% higher than other occupations.
The labor market across the country has changed significantly since 2020, leaving employers struggling to fill roles and retain employees as businesses compete for talent. A new Texas Workforce Commission report out this month found the unemployment rate in Austin is the lowest it has been since the coronavirus pandemic began, sitting at 2.5%.
There’s no doubt that Austin is booming. More and more major companies are moving here, shifting the needs and makeup of our workforce. With that shift, we’ve seen housing demand and home values rise exponentially – more than 25% – over the past year. As our city continues to grow and companies announce plans to relocate or open businesses in Austin, we must ensure that we’re building a highly skilled workforce and strong local talent pool from which they can hire. This is one of the keys to mitigating the rising cost of living and stopping longtime residents from being pushed out of our city and left behind.
A shortage of skilled workers continues to strain Austin’s economy but industry leaders see a path that could benefit both businesses and students and allow Central Texas to continue its rapid growth.
Workforce Solutions Capital Area, a nonprofit workforce development organization, found in January that 54% of jobs in Texas require more than a high school degree but less than a college degree. Only 45% of Texans meet that criteria, the organization found.
Coordinating among entities that supply workers can be daunting. However, Austin is one of the metropolitan areas that is doing this well – and the city’s success can be an example for other communities looking to shore up their economic futures in the heartland and beyond.
Take for example Workforce Solutions Capital Area (WSCA), which helps fill entry-level positions and provides upskilling opportunities so that students can progress to nursing jobs.
With Austin’s unemployment rate reaching lows since the pandemic, the scramble to fill jobs at all levels reaching new highs.
The region’s unemployment rate currently stands at 2.7%, putting workers in the driver’s seat and pressuring thoseh iring to offer a number of perks and enticements, according to workplace experts and economists.