The Austin metropolitan area added 14,100 jobs in the past year ending in May, giving the region the fourth best performing among the 50 largest U.S. metros at 1.8% change in growth, according to information from the Texas Workforce Commission and the U.S. Bureau of Labor Statistics (BLS).
The metropolitan region of Austin-Round Rock-San Marcos, which has been heralded as a recession-proof economy, showed some slower year-over-year job growth in recent months compared to the state of Texas as a whole. Dallas takes the top spot amongst top 50 performing metro areas with job growth of 2.5%, while Milwaukee came in second with 2.4%, Seattle took third at 2.0% growth, Austin held fourth with 1.8% growth and Houston came in fifth, also at 1.8%.
Austin’s year-over-year private sector job growth was 2.4%. Texas added 1.9% in total jobs for the year-long period and 2.7% in the private sector. Both the state and the metro lost government jobs over the last 12 months.
The State Capitol of Texas in Austin.
Nationally, 952,000 jobs, or a 0.7% change, was added over twelve months ending in May. Total U.S. jobs remain more than 7 million or 5.3% off the peak of November 2007. Jobs in both Texas and Austin peaked a year later. Texas needs to add another 87,400 jobs or 0.8% to be back at the level seen in November 2008. As of May, Austin’s jobs total now exceeds the metro’s November 2008 peak by 1,900 jobs or 0.2%. Austin’s return to peak employment in only 16 months markedly contrasts with the early 2000s’ recession, which saw 54 to 57 months pass before Austin regained its pre-recession peak employment.
Unemployment numbers for May show Austin’s performance relative to the state and other major Texas metros being sustained. In May, Austin is at 6.7%, while the other major metros range from 7.3% in San Antonio to 8.2% in Houston. The rates are 7.9% in Dallas and 7.8% in Fort Worth. Austin’s rate one year ago was 6.9%. The rates in Dallas and Fort Worth are also below last May’s rate, Houston’s rate is unchanged, and San Antonio’s is up from one year ago. The statewide rate is now 7.9%, the same as last May. The May national rate at 8.7% is improved over last May’s 9.3%.
Telecommunications jobs in the Austin area held at a preliminary 4,900 for May, showing a drop of 100 jobs one year ago.
The related industries of computers and electronic product manufacturing had 23,500 jobs, up 500 from last year, while computer and peripheral equipment manufacturing showed 7,200 positions, down 200 from last year. The semiconductor industry is growing in Austin, likely due to the expansion of Samsung in north Austin. Positions totaled 11,800 jobs, up 300 from May 2010.
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