The Austin-Round Rock metropolitan statistical area had an unemployment rate of 3.5 percent during the month of August, giving it the second-lowest rate in the state during that period, according to data released by the Texas Workforce Commission on Friday. The Amarillo MSA posted an unemployment rate of 3.4 percent in August giving it the lowest rate.
Both MSAs were below Texas’ seasonally adjusted average unemployment rate of 4.7 percent.
Texas added 21,400 non-farm jobs during the month.
“Texas employers added 190,600 jobs over the past year, with the diversity of our economy highlighted by nine out of 11 industries adding jobs,” TWC Chairman Andres Alcantar said in a news release. “TWC will continue to build partnerships that provide workers with in-demand skills to boost job creation.”
Financial activities, a job category tracked by the TWC, saw the largest overall employment increase with the addition of 6,200 new jobs, according to the release. Trade, transportation and utilities, another category tracked by the TWC, added the second-most jobs in August, with 4,000 new positions created. For the second consecutive month, construction employment grew, adding 1,300 new jobs.
Adriana Cruz, who previously worked for the Austin Chamber of Commerce before taking over as president of the Greater San Marcos Partnership in 2013, which is responsible for economic development in Hays and Caldwell counties, said Texas counties continue to be some of the fastest-growing in the nation. Hays County is currently the fastest-growing county with a population over 100,000 in the nation, she said.
Cruz, who attended the Austin-San Antonio growth summit where economic development leaders discussed the Central Texas economy, said much of the conversation at the summit was focused on affordability. She said the lack of affordability in areas such as California are driving some companies to relocate to regions that are less costly to live in and have good quality of life. Texas fits the bill on that account, she said.
"This [TWC job creation announcement] is part of that continuing trend of Texas doing extremely well in terms of job growth," Cruz said.
For more information, view the
TWC report.