AUSTIN, Texas – According to data released today from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate increased slightly from December 2023 to January 2024, and is now at 3.4%**, as represented by 50,280 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remained below the Texas (4.1%) and national rate (4.1%) in January.
- According to TWC, the Austin metro lost 17,500 jobs from December to January. The region has experienced an annual growth rate of 2.7%, representing the collective addition of 35,600 jobs since January 2023.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** increased to 3.4% from December to January, representing 29,102 unemployed residents.
- Note: The unemployment data released today is not seasonally adjusted.
January Job Growth/Losses by Industry in the Austin-Round Rock MSA:
- Monthly Increases: Industries that experienced regional job growth from December to January include information (300), other services (200) and financial activities (100).
- Monthly Decreases: Trade, transportation and utilities (-5,800), professional and business services (-4,100) and leisure and hospitality (-2,800) experienced regional job losses from December to January.
- Other industries that experienced monthly job losses include government (-2,200), private education and health services (-2,000), mining, logging and construction (-700) and manufacturing (-500).
- Annual Increases: Mining, logging and construction experienced the greatest regional job growth over the past 12 months with an increase of 7.4%, followed by other services (7.3%).
- Other industries that experienced annual job growth include private education and health services (5.2%), financial activities (4.5%), trade, transportation and utilities (3.6%), leisure and hospitality (3.2%), government (2.1%) and manufacturing (1%).
- Annual Decreases: Information (-3.7%) experienced an annual decrease from January 2023 to January 2024.
The mobility and infrastructure sector is poised for significant expansion in Austin. With infrastructure and mobility projects in the city bringing in approximately $25 billion in investments, the demand for skilled workers is also on the rise. In response, Workforce Solutions Capital Area has partnered with community, county, city and organizational leaders and labor representatives to take proactive steps to address this need and capitalize on this very rare moment to seize the coming opportunities and prepare our community for these projects and the careers that are made possible from them. We can be one of the first regions that proactively plans for these projects and for the wants and needs of the people who will build and operate them.
The ‘all hands on deck’ approach includes, but is not limited to, the establishment and funding of an Infrastructure Academy, an initiative to fast-track workforce development for this industry.
“As regional construction ramps up, purposeful workforce development can tackle affordability challenges and generate family-supporting sustainable career pathways while enhancing mobility,” Tamara Atkinson, CEO of Workforce Solutions Capital Area, said. “We applaud Austin City Council and the community for supporting the establishment of a program to fund the Austin Infrastructure Academy and we look forward to bringing the community to the table to actualize this work.”
Being at the forefront of strategic workforce planning and projects in the Austin area, Workforce Solutions Capital Area was recently awarded the Workforce Innovation and Opportunity Act Trailblazer Award by the National Association of Workforce Boards. Workforce Solutions Capital Area’s accomplishments include the establishment of the first-ever Mobility Industry Sector Partnership with local transit authority, CapMetro and Austin Transit Partnership, which led to the release of the first-ever mobility workforce study for Central Texas.
“I’m proud to be part of this initiative to support people at any point in their career journey, as this will prepare them with new possibilities for growth and advancement,” Mark Sherry, board chair for Workforce Solutions Capital Area, said. “As we embrace this honor, we’re even more energized to forge new avenues for Austinites to find meaningful career opportunities.”
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.
