Once Again, Austin Round Rock Metro Unemployment lowest in Texas
Latest stats from TWC are out. Rank order by the top 5 metros with the lowest unemployment
1. Austin Round Rock 3.1%
2. Amarillo 3.2%
3. College Station Bryan 3.6%
4. Abilene 3.7%
5. Dallas Plano Irving 3.7%
The US unemployment is 3.8% as a reference point.
Texas added 82.500 jobs in June which was the largest gain this year on a monthly basis. Good to be in Texas!
Is unemployment an early predictor of economic downturn? Or does it lag behind the curve? To me these numbers may not reflect what's about to come in 6mo-1yr.
Employment growth or decline is a direct reflection of an economy expansion or contraction. If companies are doing well and they want to expand then they will hire. If they aren't doing well then they will lay off folks. There are trends and the trend for Texas is up and has been for a long time. Austin Round Rock has also had a long term trend upwards in employment growth for a tremendously long time.
According to Alan Greenspan who served as the chief of the Fed Reserve for decades, the best predictor of an economic downturn is Men's underwear...lol! Research it.
