April Unemployment

For the second month in a row the unemployment rate improved in the Capital Area, according to data released today by the Texas Workforce Commission. The unemployment rate fell to 5.7% in April (not seasonally-adjusted), compared to 6.1% in March, while Texas held steady at 6.7%. Unemployment in the five-county Austin-Round Rock metropolitan area was 5.8%.

These figures indicate the Capital Area has weathered the recession relatively well compared to other regions in the U.S. The highest unemployment rate during this recession so far was 6.2% in February 2009. By contrast, regions such as Raleigh and Denver experienced unemployment rates between 8% and 9% in March (U.S. Bureau of Labor Statistics).

While today’s announcement is a positive sign, there are still 51,500 unemployed people in the Capital Area accounted for in April, which is roughly 20,000 more than one year ago.

(Click on image for larger version)

Chris Ramser