In the wake of recent layoffs locally and national concern over a looming recession, it is encouraging to see strong economic and employment growth month after month both here in the Austin area and across the State.

In March, total Nonagricultural Employment in the Austin-Round Rock MSA* increased by 6,400 jobs for the second straight month. Most of the employment increase was contributed by the Leisure & Hospitality (1,500 jobs for a 1.9% increase) and Government sectors. The Retail Trade sector contributed 500 new jobs in March and has now added 3,400 jobs in the last year, for a remarkable annual growth rate of 4.3%.

The annual growth rate for all sectors in the Austin-Round Rock MSA was 2.9 percent in March and over the past twelve months it has gained 21,800 jobs. 

According to the Texas Workforce Commission (TWC), the unemployment rate for the Austin-Round Rock MSA in March 2008 was steady at 3.6 percent. The rate was 3.5% one year ago.

The unemployment rate for Texas was 4.2 percent, and the U.S. rate was 5.2% for March 2008.

*The Austin-Round Rock Metropolitan Statistical Area (MSA) consists of Bastrop, Caldwell, Hays, Travis, and Williamson counties.