Austin Unemployment Rate Still in Decline
Austin has long been known for its incredibly low unemployment rate, particularly in the last half decade, when residents of other cities have struggled in the face of lay-offs and high unemployment. In fact, much of Austin's decades-long population boom can be attributed to Austin's job market. Incredibly, however, Austin's falling unemployment rate has continued to tumble even lower.
As of October 2015, the unemployment rate in Austin had dropped to a minuscule 2.9%, while the national average was at 4.8%. Although both the national and Austin unemployment rates have been lowering over the last 6 years, Austin’s rate has continually stayed 2.5% lower, on average, versus the national unemployment rate.
Before the recession hit in 2008, Texas had peaked with over 10.6 million jobs. As of November 2015, Texas had not only recovered back to that peak level, but also added over 1.2 million extra jobs to it.
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