According to the Texas Workforce Commission, Austin, TX had an unemployment rate of 6.4% or 80,800 in September 2020; an increase of 0.9% from the previous month. That is 48,000 more people unemployed this year than the same time last year.
There is hope. According to the recent Austin Job Postings Report released by the Austin Chamber, there were approximately 62,500 available job postings in October 2020. Of those job postings, 40% were new (1st time) job postings.
Occupations in High Demand
The data showed that the majority of job postings were for occupations that served the current need in business and the community. Computer and Mathematical occupations made up 14% of available job postings in October 2020, many of which were for Software Developers-Applications. Some other occupations that saw an increase in demand are:
Personal Care Aides
Janitors and Cleaners
Combined Food Preparation and Serving Workers including Fast Food
Laborers and Freight
Maintenance and Repair Workers
General and Retail Salespersons
The companies that had the most new (1st time) job postings that month were employers such as The University of Texas, Ascension Health, Amazon, IBM, Hospital Corporation of America, Dell, Baylor Scott & White Health, Anthem Blue Cross, HEB, Advanced Micro Devices, Inc., The Home Depot Incorporated and the Texas Department of Public Safety. The top 5 new (1st time) job postings were for software developers-applications, sales representatives-wholesale and manufacturing, retail salespersons, registered nurses, and customer service representatives.
Some Good News
The good news is that the job market appears to be rebounding. The chart below shows the monthly ad trends under Available Job Postings in the Austin-Round Rock-San Marcos MSA from October 2015 through October 2020.
As you can see in the chart, the monthly ad trend in October 2020 surpassed the pre-COVID-19 high in October 2019. Though it is not a definitive indicator of future success, it is a step in the right direction.
For more information about this topic, visit the Austin Chamber or the Texas Workforce Commission.
If you have any questions about this topic or any other HR or recruiting-related questions, we are happy to help. Click on the link below to download a free copy of our revised publication, “How to Win the War for Talent Post-COVID-19” and schedule a free consultation with one of our HR Advisor today!