AUSTIN, Texas – According to data released today from the Texas Workforce Commission, the Austin-Round Rock MSA* unemployment rate increased from June 2023 to July 2023, and is now at 3.8%**, as represented by 55,387 unemployed residents. Key takeaways include:
- The Austin metro unemployment rate remains below the Texas (4.5%) rate and is the same as the national rate (3.8%) in July.
- According to TWC, the Austin metro saw a loss of 7,900 jobs from June to July. The region has experienced an annual growth rate of 3.1%, representing the collective addition of 39,500 jobs since July 2022.
- Furthermore, TWC reports unemployment in the Capital Area/Travis County region*** increased to 3.8% from June to July, representing 32,166 unemployed residents.
- Note: The unemployment data released today is not seasonally adjusted.
July Job Growth/Losses by Industry in the Austin-Round Rock MSA:
- Monthly Increases: Industries that experienced regional job growth from June to July include trade, transportation and utilities (1,000), financial activities (400), and professional and business services (300).
- Other industries that experienced monthly job growth include leisure and hospitality (300) and other services (300).
- Monthly Decreases: Government (-8,400), information (-600) and manufacturing (-500) experienced regional job losses from June to July.
- Other industries that experienced monthly job losses include private education and health services (-500) and mining, logging and construction (-200).
- Annual Increases: Leisure and hospitality experienced the greatest regional job growth over the past 12 months with an increase of 7.0%, followed by mining, logging and construction (4.8%).
- Other industries that experienced annual job growth include other services (4.4%), manufacturing (3.7%) and professional and business services (3.6%).
- Annual Decreases: Information (-0.9%) experienced an annual decrease from July 2022 to July 2023.
As an ongoing effort to help Austin area businesses and organizations better understand the local business climate, Workforce Solutions Capital Area recently published a Texas Talent Experts healthcare report that offers insights into local healthcare employer perspectives, data and innovative solutions to meet talent demand through its Central Texas Healthcare Partnership.
“Workforce Solutions Capital Area has been closing the gap in the region’s healthcare workforce through our Central Texas Healthcare Partnership since 2018,” Tamara Atkinson, CEO of Workforce Solutions Capital Area, said. “With over 7,500 healthcare establishments currently operating in the Austin metro area, projections included in the Texas Talent Experts report indicate 196,000 healthcare positions will need to be filled over the next decade. Industry partnerships allow us to combine resources to train and prepare our community’s future healthcare professionals at a faster clip.”
As a part of the Central Texas Healthcare Partnership, Workforce Solutions Capital Area is training future healthcare professionals for high-demand careers while simultaneously helping local healthcare employers and partners — including Baylor Scott & White Health, Ascension Seton and St. David’s HealthCare — hire local talent to address workforce shortages and prepare for upcoming facility expansions.
“The Texas Talent Experts healthcare report gives local employers meaningful insight into the current and future healthcare workforce in Central Texas,” Melanie Flowers, board chair for Workforce Solutions Capital Area, said. “Findings include that the healthcare industry has the third highest 10-year growth rate among all industries in Austin and that the work being done through the Central Texas Healthcare Partnership will help prepare local residents for the thousands of positions that need to be filled.”
To access the full Texas Talent Experts healthcare report provided by Workforce Solutions Capital Area, please visit https://wfsca.co/hcreport2023.
To learn more about the quality improvement programs offered by Workforce Solutions Capital Area, please visit https://www.wfscapitalarea.com/our-services/childcare/for-providers/.
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.
