Business cycle index
The Business Cycle Index summarizes movements in locally measured payroll employment, the unemployment rate, inflation-adjusted wages, and inflation-adjusted retail sales. The indexes are weighted so that movements in the index represent underlying co-movements in the indicators and thus the underlying state of the economy and illustrate each metro’s patterns of recessions and expansions.
Source: Federal Reserve Bank of Dallas
Monthly change in nonfarm payroll jobs
Payroll jobs in Austin increased by 1.6% from April to May. Texas increased by 2.0% and the nation by 1.9%. Austin has fared better than 40 of the top 50 metros based on year-over-year change.
New/lost jobs by industry
Austin’s leisure and hospitality industry regained 15,100 jobs in May, but employment stands at 62% of its pre-pandemic level.
In the Great Recession, the highest seasonally adjusted unemployment rate attained in Austin was 7.5% and rates over 7% prevailed for 12 months. The number unemployed in Austin is estimated at 132,803 in May.
Unemployment insurance claims
Available substate UI claims data is not directly comparable to state and national initial UI claims data. See TWC link below for more information.
New online job ads
Published postings decreased by 15.4% to 22,122 in the period April 14, 2020 to May 13, 2020.
Source: The Conference Board-Burning Glass Help Wanted OnLine™ Publication Series (Austin Chamber)
Weekly transaction trends 183-A toll road
Transactions on 183A dropped 50% after stay at home requirements were instituted and has slowly started to rise as restrictions have eased. This trend is similar across all CTRMA roads.
Requests for directions in Apple maps on July 5, 2020 reflect a 16% decrease in driving requests, and a 61% decrease in transit requests, compared to the index base period of January 13, 2020.
The data shows how visitors to (or time spent in) categorized places change compared to baseline days. A baseline day represents a normal value for that day of the week. The baseline day is the median value from the 5‑week period Jan. 3-Feb. 6, 2020.
Commercial vacancy rates
The vacancy rate is the percentage of the total amount of physically vacant space divided by the total amount of existing inventory. Under construction space is not included.
Source: Costar Group
New privately owned housing units authorized by permits
In 2019, a total of 32,025 housing units were authorized by building permits. Among the top 50 metros, Austin ranked 6th for total units permitted and 1st for permits per capita. Through May, 2020 units permitted are 30% above 2019.
Source: U.S. Census Bureau
In Austin, as of July 1, total credit card/debit card spending by consumers is 5% below the level of January 4-31, 2020.
Source: Opportunity Insights Economic Tracker (Harvard University).