Austin Unemployment Hits All-Time High

[David Ivy]

The jobless rate reached 12.2% in the Austin metro in April 2020. This is well above the area's previous high of 7.8% recording in July 2009 and a substantial jump from 2.3% seen in April 2019. The April 2020 number is not seasonally adjusted. However, it is slightly below Texas' state-wide seasonally adjusted 12.8% for April 2020. Elsewhere in the state, DFW posted a seasonally unadjusted rate of 12.8% last month. Houston reached 14.2%. San Antonio hit 13.2%.

Nearly half of the jobs lost in the Austin metro were in the hospitality sector, comprised primarily of hotels, bars, and restaurants. With Texas in the midst of a phased reopening of its economy, it's possible that the April 2020 jobless numbers represent the peak. Only time will tell.

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