Austin Employment Numbers for May 2011

The Austin Chamber of Commerce recently released employment data for our local area covering the month of May 2011. The overall news remains good for Austin, with no major surprises in the numbers. Most importantly, Austin increased the number of jobs by 1.8% compared to a year ago. The added 13,700 jobs brings the Austin unemployment rate for May 2011 to 6.7%, compared to 6.9% in May 2010. Austin is ranked 5th among the top 50 metropolitan areas for low unemployment and 4th for percentage job growth.

Texas reported good news overall. Texas added 1.9% more jobs from May 2010 to May 2011 leading to a statewide unemployment rate of 7.9%. By way of comparison, the national rate now stands at 8.7%, an improvement from the 9.3% rate reported one year ago.

Here are some additional highlights from the release:

• Austin’s current jobs total is greater than our previous peak in November 2008.
• Austin returned to peak employment in just 16 months.
• Austin’s year-over-year private sector job growth was 2.4%.
• Jobs in May 2011 also exceeded the number of jobs in April by 3,900.
• For the year, only the Information and Government Sectors reported fewer jobs.
• Retail Trade was the sector with the greatest increase in the number of jobs.
• The Natural Resources sector saw the biggest percentage gain at 15.6%.

The report comes as no surprise as we’ve continued to report positive job news right here on this blog. In just the last three months, here are some of the announcements we’ve shared:
Rackspace Hiring in Austin [originally posted June 9, 2011]
Wyoming Springs Building and Hiring [originally posted June 2, 2011]
• Progressive Insurance Hiring in Austin [originally posted May 31, 2011]
ProfitFuel Adding Jobs in Austin [originally posted May 26, 2011]
ArthroCare Signs Biggest Lease in a Year [originally posted April 8, 2011]

Keep an eye on our blog for futher employment updates. You can subscribe by using the button in the right hand side bar.

To see the complete news release by the Austin Chamber of Commerce, click here.

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About missionmortgage

A full-service professional mortgage banker providing lending in Texas for over 25 years. Our main office is located at 901 S. Mopac Expwy, Barton Oaks V- Suite 120, Austin, TX 78746 with branches in Lakeway, Houston, and Sealy. Mission Mortgage has been ranked as a Top 10 Mortgage Company in Austin for the past 7 years (Austin Business Journal).
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