Percentage Unemployment Rate
The Texas Workforce Commission provides Texas Labor Market Information with counts for the civilian labor force, employment, unemployment, and unemployment rate by place of residence. According to the U.S. Bureau of Labor Statistics, the definition of unemployed is to be "jobless, actively seeking work, and available to take a job." The unemployment rate is an important indicator of economic and workforce health in Austin over time. It is calculated by finding the number of unemployed people as a percent of the civilian labor force.
The unemployment rate in Austin was 3.9% in 2021.
The unemployment rate in Austin decreased from 6.3% in 2020 to 3.9% in 2021. There is not currently a target for this measure, but historical trends show that Austin consistently has a lower unemployment rate than the Austin-Round Rock Metropolitan Statistical Area (MSA) (4.1% in 2021), Texas (5.7% in 2021), and the United States (5.3% in 2021).
Note: to see the underlying data for this chart, please select the "View Source Data" link to the left.
Additional Measure Insights
Below is an image and link for the Texas Labor Market Information portal with monthly and annual unemployment statistics for the country, state, city, and other areas. These areas are defined using residence addresses.
Measure Details and Definition
1) Definition: This measure tracks the unemployment rate in Austin.
2) Calculation method: This measure is calculated using the formula: Unemployment Rate = Unemployed / Civilian Labor Force
3) Data Collection Process: This information is collected and reported on by the Texas Workforce Commission. They publish Texas Labor Market Information with counts for the civilian labor force, employment, unemployment, and unemployment rate by place of residence.
4) Measure Target Calculation: N/A
5) Frequency Measure is Reported: Annually (Calendar Year)
Date page was last updated: September 2022