AUSTIN (Talk1370.com) -- Austin's unemployment rate fell to the lowest level in March since the pandemic began, according to new data released on Friday.
Workforce Solutions Capital Area says the unemployment rate for the Austin-Round Rock metro area fell to 2.7 percent, just one tenth of a percentage point higher than February 2020's rate of 2.6 percent.
"Currently the job market in the Austin area is an employee’s market, as the supply-and-demand balance is significantly tipped toward workers and job seekers," said Tamara Atkinson, CEO of Workforce Solutions Capital Area. "In this environment, employers must take creative approaches to hire and retain workers. Bonuses, flexible work schedules and training opportunities are just some of the tools that local employers are using to fill thousands of available jobs."
According to data from the Texas Workforce Commission, the metro area gained 95,600 jobs in the 12 months since March 2021, an annual growth rate of 8.5 percent.
The March figures account for more than 36,600 unemployed residents across the five county metro area.
The metro rate is below the state and national unemployment rate, which came in at 3.9 percent and 3.8 percent for the month, respectively.
“We’ve added 152,200 positions so far in 2022, which is more jobs over the first three months than any previous year dating back to 1990,” said TWC Chairman Bryan Daniel. “The prosperous economic climate in Texas expands opportunities for all who call Texas home.”