Austin’s unemployment rate fell to 7.3% in August, remaining significantly lower than the rate for Texas (8.5%) and the United States (9.1%). The lower unemployment rate is a sign of robust hiring in Austin’s private sector, offsetting job elimination in the public sector. Statewide, a net 9,400 government jobs were shed during August. During the past year, the private sector in Texas has added 272,200 jobs.
The information sector has actually been cutting jobs in Texas during the past twelve months. Total employment in the industry is now 186,900 according to the Texas Workforce Commission, compared to 194,600 a year ago. During the past year, the trade, transportation and utilities sector in Texas and the professional and business services sector have each added roughly 50,000 jobs. The education and health services sector has added more than 40,000 jobs during the past year, suggesting that healthcare may have added even more than 40,000 jobs since many teachers have lost their jobs.
In Austin’s software and mobile content industries, startup businesses account for a good chunk of hiring. To view a current list of job openings at Austin startups from VentureLoop click here.