Austin has long been known for its incredibly low unemployment rate particularly in the last half decade when residents of other cities have struggled in the face of lay-offs and high unemployment. In fact much of Austin’s decades-long population boom can be attributed to Austin’s job market. Incredibly however Austin’s falling unemployment rate has continued to tumble even lower.
As of January 2020 the unemployment rate in Austin had dropped to a minuscule 2.6% down from November 2019 when the rate was 2.7 percent. Austin has added 37,800 new new jobs, a growth of 3.5 percent, in the last 12 months, making Austin the second fastest growing metro area.