Friday’s release of May 2010 payroll jobs numbers by the Texas Workforce Commission and U.S. Bureau of Labor Statistics saw Austin improve on the return to year-over-year job growth begun in April. Three other large metros also have positive growth in May, but Austin’s was the greatest rate of increase.
Job losses in this recession peaked at 24,400 (-3.1%) in September, year-over-year, but steadily narrowed, falling to a difference of -0.1% in March, reverting to positive by 0.4% in April, and now adding 4,000 or 0.5% in May over the number a year ago. With Austin's nonfarm payroll jobs totaling 767,700 in May, the metro remains 15,700 (-2.0%) off the November 2008 peak of 783,400 jobs.
Austin’s
aggregate job gain for May of 4,000 or 0.5% compare to 5,600 or 0.3% for Dallas,
-2,200 or -0.3% for Fort Worth, -22,000 or -0.9% for Houston, and -7,600 or
-0.9% for San Antonio.
May is Texas’ first instance of year-over-year job growth. The state added 24,000 jobs or 0.2%. Nationally, 491,000 jobs (-0.4%) have been lost over the last 12 months and this is the 25th month of year-over-year decline. The national year-over-year deficit has been steadily narrowing since September.
In Austin’s private sector, seven industries lost jobs in the last 12 months. The industries that see positive growth are financial activities, education and health services, leisure and hospitality, other services and government. The most robust gainer in both numbers and rate of growth was leisure and hospitality with 7,500 new jobs, or 8.9%. The other most notable gainer was education and health services with 2,200 jobs added, or 2.6%
The 21,100 jobs added over the last 12 months in the five growing industries outweighed the 8,100 jobs lost in the industries that declined. High job losses and rates of loss were seen in construction and natural resources (2,000 or -4.9%) and manufacturing (2,300 or -4.7%). Combined, goods producing industries account for 4,300 in job losses. Private service-providing industries, with both gainers and losers, have seen a net gain of 7,300 jobs over the last 12 months, while government has seen a gain of 1,000 jobs. On a percentage basis the information industry lost the most 5% (1,000 jobs). Professional and business services lost the greatest number of jobs, 2,200 (or 2%).
Austin’s construction losses are similar those seen statewide (-4.7%) and better than the national losses (-7.1%). However, Austin’s manufacturing losses (-4.7%) are above the state and national 12-month losses (-1.8% and -2.0% respectively).
State-wide, the industries growing over the last 12 months overlap with those growing in Austin: education and health services, leisure and hospitality, other services, and government (Austin also grew in financial activities, but the state did not). Nationally, growth occurred in professional and business services, education and health services, and government.
We also have now the May unemployment (and labor force and employment) numbers for Texas, local areas in Texas, and the U.S. However, the federal release of this data for all U.S. metros, that we sometimes do a ranking of, will not be available until Wednesday, June 30.
Unemployment numbers for April show Austin’s performance relative to the state and other major Texas metros being sustained. In April, Austin is at 6.9% and San Antonio is at 7.1%. The rate is and is 8.1% in Dallas and Fort Worth, 8.3% in Houston, and 8.0% for the state. The national rate is 9.3%.
On a seasonally adjusted basis, Austin’s unemployment rate is 7.3%, down from 7.6% in April. Texas? other major metros seasonally adjusted rates are down by 4-5 points from April. The state’s rate is unchanged at 8.3%. The seasonally adjusted national rate is 9.7%, down from 9.9% in April.
Unemployment
remains higher than levels seen 12 months ago. In May 2009, Austin’s unemployed
was 58,584 (6.6%), and has since climbed to 63.222 (6.9%). However, there are
5,262 fewer unemployed in Austin compared to the peak reached in January. While
the number of unemployed has increased in over the last 12 months, so have civilian
labor force and employed over the period. Civilian labor force (employed plus
unemployed) increased by 27,447 or 3.1% in 12 months
and persons employed increased by 22,809 or 2.8%. Texas is also showing growth
in employed (1.7%) as well as labor force (2.4%). Nationally, both civilian
labor force and employed are below the levels of a year ago.