Austin Economic Indicators August 2015 via Dallas Fed

The Austin economy maintained a steady pace of growth in June. Job growth moderated to an annualized 2.4 percent rate but remained above the state’s 1.8 percent. The unemployment rate declined for the third month in a row, to 3.1 percent. In the first half of the year, Austin job growth accelerated to 4.5 percent even as growth in the rest of the state fell below the national average. While goods-producing industries continue to face headwinds, service sector jobs appear poised to grow strongly in the second half of the year.

The Austin Business-Cycle Index accelerated again, and growth for the first half of the year came in at an annualized 9.9 percent. Employment growth of 4.5 percent over the past six months, coupled with a fall in the unemployment rate from 3.6 percent in December 2014 to 3.1 percent in June 2015, has propelled recent growth in the index.

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