Unemployment

economy
11:17 am
Fri November 18, 2011

11,100 More People Employed in Austin Over Past Year

Clarification:  The Texas Workforce Commission says their data shows 11,100 more people were employed in Central Texas over the past year. 13,300 new jobs were created in the same period, according to TWC statistics

More people were employed in Austin last month compared to October 2010 but the unemployment rate rose because more people were looking for work. In the Austin-Round Rock-San Marcos area, 858,100 people had jobs in October 2011 compared to 847,000 in the same month last year.

But the jobless rate rose to 7.1 percent in the Austin metro area from 6.9 percent in October 2010 because more people were looking for work, according to the Texas Workforce Commission, which analyzes data from the U.S. Bureau of Labor Statistics.

However, labor economists caution against putting too much faith in city-level jobless figures because the sample sizes are small. They also suggest comparing year-over year rates instead of tracking month-to-month changes because of statistical fluctuations.

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Economy
2:02 pm
Fri October 21, 2011

The Top 5 Stats From Today's Texas Jobs Report

Bureau of Labor Statistics

The latest job numbers were released by the Texas Workforce Commission today, and while there's no startling news to report, there are some interesting tidbits:

  1. Texas's employment advantage may be fading. The state's unemployment rate is up to 8.5 percent from 8.2 percent a year ago, while the national unemployment rate has fallen from 9.6 percent a year ago to 9.1 percent this month.
  2. Austin had the lowest unemployment rate among the five largest cities in Texas, at 7.4 percent (same as last month, but up from 7 percent a year ago). The highest? El Paso, at 10.6 percent (up a full point from a year ago).
  3. Much of the state's job creation has come in the private sector, which added 26,500 jobs. But...
  4. The public sector is taking a beating. It lost over 11,000 jobs in September, and has shed 33,700 jobs since September last year.
  5. The highest percentage of job gains in the state came in the "Professional and Business Services" category, which includes professions like accountants, lawyers, computer engineers and the like. They're up 5.3 percent in job gains since last September.

The full release from the commission can be found here, with notes by KUT News.

Business
12:03 pm
Mon October 17, 2011

No Lowes Closures Planned In Texas

Photo by hawaii http://www.flickr.com/photos/hawaii/

Fear not, Austinites who shop at Lowes. You will still have somewhere to buy that $300 artificial Christmas tree this year without having to visit Home Depot, Target, Wal-Mart or some other large retail chain.

Lowes is closing 20 “underperforming stores” across 15 states and laying off 1,950 people. But none of the locations is in Texas, according to a news release from Lowes. The home improvement chain has 14 stores between Round Rock and New Braunfels.

The move to scale back operations comes after Home Depot, Lowe’s main competitor, reported a 16 percent jump in earnings while Lowes reported no growth, the AP reported.  Bloomberg News says the company will provide fired employees with pay and benefits for 60 to 90 days. 

economy
2:02 pm
Fri September 16, 2011

Texas Loses 1,300 Jobs, Austin Gains 5,600

Texas added 1,900 construction jobs last month and 400 of them were in Austin.
Photo by KUT

Texas experienced a net job loss of 1,300 this month, causing the August unemployment rate to tick up to 8.5 percent from 8.4 percent in July.  A year ago, Texas’ unemployment rate was 8.2 percent.

Texas Workforce Commissioner Tom Pauken blamed a “stagnant national economy” for the job losses, but most of the cuts were in local government. About 11,500 positions were eliminated at municipalities and counties in August.  The state government added 1,700 jobs and the federal government increased its workforce in Texas by 400.

Meanwhile, Texas’ private sector added 8,100 jobs last month.

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economy
12:41 pm
Fri August 19, 2011

Texas Adds More Jobs But Unemployment Up To 8.4 Percent

Photo by kandyjaxx http://www.flickr.com/photos/kandyjaxx/

Texas has received its first monthly unemployment report since Governor Rick Perry announced he was running for President on his record of job creation. The numbers from Texas Workforce Solutions show the state added 29,300 jobs last month.

But the state unemployment rate still ticked higher, from 8.2 percent in June to 8.4 percent in July. That’s because more people started looking for jobs in Texas.

The Texas unemployment rate is now edging closer to the national average of 9.1 percent.

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Austin
2:30 pm
Fri July 22, 2011

Austin Unemployment Rate Rises in June

Despite a net gain of 1400 new jobs in Central Texas in June, the area's unemployment rate jumped to 7.6%.
Photo by Jessie Wang for KUT News

The Texas Workforce Commission puts the Central Texas jobless rate at 7.6 percent in June, up 0.8 percent over May.  Despite that, the Workforce Commission reports that 1,400 new private sector jobs were created in Austin last month. Lisa Givens, a commission spokesperson, says it's not uncommon to see both the unemployment rate and the number of newly-created jobs rise at the same time.

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Austin
1:23 pm
Fri June 17, 2011

Austin Unemployment Ticks Higher, Texas Rate Unchanged

Austin added 3,900 jobs last month, mostly in the leisure and hospitality sector.
Photo by Liang Shi for KUT News

More people have jobs in Austin, but 6.7 percent of those actively looking for work are still unemployed. Lisa Givens from the Texas Workforce Commission says Austin added 3,900 jobs last month. Despite this, the unemployment rate rose slight slightly from 6.5 percent in April to 6.7 percent, a result of more people looking for work.

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economy
4:55 pm
Thu May 5, 2011

Standard & Poor's Bets Texas Economy Will Recover Quickly

Texas has a long road ahead before a complete economic recovery, but Standard & Poor's thinks the state will rebound faster than most.
Photo courtesy flickr.com/emdot/

The financial services company Standard & Poor's (S&P) is showing some love for the Texas economy today by granting the state's government bonds an AA+ rating.

In a press release, S&P analyst Horacio Aldrete-Sanchez said it was because the Texas economy is large, diversifying, and growing faster than the country's as a whole.

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economy
4:39 pm
Wed April 6, 2011

Austin Sales Tax Receipts Up 4 Percent Over Last Year

Photo by Callie Hernandez for KUT News

People bought more stuff in Austin this year than they did in the first three months of 2010, according to sales tax figures released today by Texas Comptroller Susan Combs.  The comptroller reports that Austin is receiving 4.35 percent more in sales tax revenue compared to January-March 2010. However, if you compare March 2010 with March 2011, the increase was a nominal 0.05 percent.

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Austin
11:20 am
Fri January 21, 2011

Local Workforce Grew By 16,600 in 2010 As People Flocked To Austin

Image by Tommy Klumker http://www.flickr.com/photos/tomask/

We received more hard data today showing how more people are moving to Austin and looking for work.  The latest unemployment survey from the Texas Workforce Commission shows the workforce in the Austin-Round Rock-San Marcos area increased from 892,700 in December 2009 to 909,300 last month, a difference of 16,600.

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Politics
11:19 am
Thu January 6, 2011

Are Looming Job Cuts At TEA Sign Of Things To Come?

Most Texas Education Agency employees work in the Wililam B. Travis building on Congress Ave. near 17th St. A letter to employees from Education Commissioner Robert Scott is promising job cuts at the agency this year.
Image by Nathan Bernier for KUT News

Texas Education Commissioner Robert Scott sent a letter to staff this week, welcoming them back to work from the holidays and warning them they might be fired. With state lawmakers ready to begin a legislative session next week that will require closing a budget gap as big as $25 billion or more, is this an impending sign of the pain that will be wrought on Austin's economy?

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