Although still gripped by the pandemic, the local economy is showing signs of recovery. The Austin-Travis County area posted a 6.9% unemployment rate in July, a drop from the 7.5% jobless rate in June, according to the Texas Workforce Commission.
After seeing historically low unemployment numbers—2.6% in February—the pandemic propelled the Austin-Travis County area to a 12.4% unemployment rate in April, only falling slightly to 11.6% in May before dropping to single digits in June.
The Austin metro is faring slightly better, as the Texas Workforce Commission reported a 6.7% jobless rate for July. The state and national unemployment numbers run higher at 8.2% and 10.5%, respectively. Travis County’s 6.9% rate represents 50,485 residents who applied for unemployment benefits through July.
July marked the end of the federal government’s additional $600 per week for unemployed Americans, a benefit economists have said helped fight off poverty numbers from skyrocketing through the economic downturn of the pandemic.
