In the News: Austin fighting back; jobless rate drops for 2nd month
For the second consecutive month, Austin’s unemployment rate has decreased as the region tries to regain the losses it’s sustained in the recession.
Austin added 5,100 jobs in the month of March, helping drop the metro area’s unemployment rate from 6.3 percent in February to 6.2 percent, according to the latest figures from the Texas Workforce Commission.
Over the last 12 months, the area has added a cumulative total of just 3,300 jobs, for a 0.4 percent growth-rate. Though modest, growth of any kind is seen as a sign of health as most of the cities across the country continue to struggle with major job losses.
Indeed, Texas as a whole lost 47,100 jobs in the month of March, the TWC report shows. That brings Texas back down to its fall 2007 employment level and increases the statewide seasonally adjusted unemployment rate from 6.5 percent in February to 6.7 percent last month. The national unemployment rate now stands at 8.5 percent. Texas recorded a net loss of 106,500 jobs in the past 12 months; nationwide job losses total 4.8 million over the last year.
“The Texas unemployment rate remained well below that of the nation, although Texas suffered a net loss of jobs in March,” said TWC Chairman Tom Pauken. “While the national recession continues to have an impact, TWC is focused on helping Texans find employment and weather these challenging economic times.”
Original Link to Article with the Austin Business Journal
National, Texas, and Austin Unemployment Rate Over Time
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