Austin’s unemployment rate dropped sharply in April. That’s great news for Austin economic strength and those seeking work, but troublesome for recruiters trying to fill empty posts… Will we see more out of state recruiting? Austin needs you!
Original article by Michael Theis – Digital Editor- Austin Business Journal
Austin unemployment drops below 4 percent! Pressure is on hiring managers!
Austin’s unemployment rate dropped sharply in April, down to 3.8 percent from 4.4 percent the month before and down from 5 percent in April 2013, according to the Texas Workforce Commission.
Bear in mind that the metro-area numbers are not seasonally adjusted, and the unemployment rate could be revised up or down slightly in the coming months.
Still, the low rate is putting pressure on corporate recruiters. Many struggle to fill open posts — especially in the technology industry— and the tight labor market has been driving up salaries in many sectors.
In February, the ABJ published a cover story conveying tips to local business managers who want to hold on to their valued workers in this employee-poaching environment.
Statewide, the seasonally adjusted unemployment rate dropped to 5.2 percent, its lowest rate since September 2008. Texas employers added 64,100 jobs in April. Since the start of the year, Texas employers have added approximately 348,000 seasonally adjusted nonfarm jobs.
“April was a robust month for Texas job growth; the unemployment rate continues to fall and we posted the highest monthly job growth in well over three years,” said Texas Workforce Commission Chairman Andres Alcantar in a media release announcing the new unemployment numbers.
Both the Austin and the statewide unemployment rates come in far below the national average unemployment rate of 5.9 percent. The TWC has more here.
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