Rural Capital Area Jobless Rate Drops for Third Straight Month
Nov 15, 2019
Workforce Solutions Rural Capital Area
CEDAR PARK, Texas ⎯ The unemployment rate in the Rural Capital Area of Central Texas fell for the third consecutive month, dropping from 2.8 percent* in September, down to 2.7 percent in October, with 4,576 jobs added, according to figures released today by the Texas Workforce Commission (TWC). The 2.7 percent unemployment rate represented 14,928 residents in the nine-county area seeking employment. The region’s unemployment rate remained below the Texas and national rates, which both were unchanged from September at 3.3 percent.
The Rural Capital Area’s 2.48 percent annual growth rate represents the addition of 12,927 jobs since October 2018.
Within the Workforce Solutions Rural Capital Area (WSRCA) counties, Blanco recorded the lowest unemployment rate at 2.3 percent in October. Fayette County’s unemployment rate dropped to 2.4 percent, Burnet and Lee counties were at 2.6 percent, Hays and Williamson were at 2.7 percent, Bastrop was at 2.9 percent, and Caldwell and Llano were at 3.1 percent.
“The improving unemployment rate means our region’s economy is strong, but it also signals a tightening labor market,” said WSRCA Chief Executive Officer Paul Fletcher. “We are working closely with our community, industry and training partners, to upskill new and incumbent workers to meet the workforce needs of all of our industries, as well as connecting employers to underutilized populations of talented individuals, who are ready to pivot into occupations in high-demand.”
Key Points by Industry for the Rural Capital Area, according to the most recent labor market data:
- The Information Services Industry has experienced the greatest quarterly employment growth with an increase of 7 percent.
- Job gains were also experienced in the Construction Industry (5.1 percent), and the Leisure and Hospitality Industry (4.7 percent), as well as the Natural Resources and Mining Industry (4.5 percent).
- The Information Services Industry in the Rural Capital Area also experienced the greatest positive annual job growth with an increase of 15 percent.
- Significant positive annual job growth was also experienced in the Natural Resources and Mining Industry (10.6 percent), the Professional and Business Services Industry (9.6 percent), and the Construction Industry (8 percent).
Employment estimates released by TWC are produced in cooperation with the U.S. Department of Labor’s Bureau of Labor Statistics. All estimates are subject to revision. To access this and more employment data, visit texaslmi.com.
Workforce Solutions Rural Capital Area is a nonprofit community partnership providing no cost recruitment, employment services and childcare assistance, to businesses and job seekers in the Rural Capital Area of central Texas. This nine-county region includes Bastrop; Blanco; Burnet; Caldwell; Fayette; Hays; Lee; Llano; and Williamson counties. For more details on WSRCA, and the services it offers, visit www.workforcesolutionsrca.com.
*All unemployment rates listed are not seasonally adjusted.