Austin Economic Indicators June 2015 via Dallas Fed

The Austin economy accelerated in April. Jobs grew at a rapid 7.7 percent annualized rate, far above the 1 percent growth for the state overall. The unemployment rate declined as well and is nearly a full percentage point below the state’s 4.2 percent. Austin has thus far seen few negative effects from the energy slowdown. Year to date, jobs have grown above the long-term trend and faster than in any other major metropolitan area in the state. However, weakness in the Austin Purchasing Managers Index suggests continued sluggishness in regional manufacturing.

The Austin Business-Cycle Index picked up to an annualized pace of 9.7 percent over the six months ending in April. Propelled by strength in fourth-quarter retail sales and wage growth, the index is now expanding at its fastest six-month pace since the recession. Further declines in the unemployment rate and strong job growth du

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