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Austin unemployment rate dips to 3% as job market remains strong

Even as inflation continues to take a toll and the threat of a recession remains, Austin’s job market remains strong

The latest report from the Texas Workforce Commission shows the jobless rate in the Austin metro area decreased slightly from July to August and now stands at 3%.

The 3% unemployment figure represents 40,400 unemployed residents in Travis, Williamson, Hays, Bastrop and Caldwell counties.

The Austin metro area’s annual job growth rate is at 5.3%, and the area has added 62,900 jobs since August 2021, according to workforce data, although the region did see a decline of 3,500 jobs from July to August, according to the report.

In Travis County alone, the jobless rate decreased to 2.9% in August, representing 23,398 unemployed residents.

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