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Economic Indicators

Economic Indicators. February 2014. WorkFORCE. LOCAL AREA EMPLOYMENT STATISTICS (LAUS). Labor Force & Employment Austin MSA. Dec. 2012 to Dec. 2013: 23,834 (2.5%) added to labor force 27,619 (3.0%) added to employment 3,785 (7.7%) subtracted from unemployed.

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Economic Indicators

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  1. Economic Indicators February 2014

  2. WorkFORCE

    LOCAL AREA EMPLOYMENT STATISTICS (LAUS)
  3. Labor Force & EmploymentAustin MSA Dec. 2012 to Dec. 2013: 23,834 (2.5%) added to labor force 27,619 (3.0%) added to employment 3,785 (7.7%) subtracted from unemployed Source: Texas Workforce Commission, LAUS.
  4. UnemploymentAustin MSA, Not Seasonally Adjusted Source: Texas Workforce Commission, LAUS.
  5. UnemploymentAustin MSA Source: Texas Workforce Commission & Federal Reserve Bank of Dallas, LAUS.
  6. Unemployment Rate Source: Texas Workforce Commission & Federal Reserve Bank of Dallas, LAUS.
  7. Unemployment Rate Source: Texas Workforce Commission, LAUS.
  8. Lowest Unemployment RatesAmong the top 50 Metro Areas Source: U.S. Bureau of Labor Statistics, LAUS.
  9. Labor Force Growth Rates Source: Texas Workforce Commission, LAUS.
  10. Employment Growth Rates Source: Texas Workforce Commission, LAUS.

  11. WORKFORCE

    CURRENT EMPLOYMENT STATISTICS (CES)
  12. Employees on Nonfarm PayrollsAustin MSA Austin added 23,700 jobs (2.8%) in the last 12 months. Source: Texas Workforce Commission, CES.
  13. Employees on Nonfarm Payrolls Source: Texas Workforce Commission, CES.
  14. Nonfarm Payroll JobsYear-Over-Year Change Source: Texas Workforce Commission & U.S. Bureau of Labor Statistics, CES.
  15. Nonfarm Payroll JobsYear-Over-Year Change Source: Texas Workforce Commission & U.S. Bureau of Labor Statistics, CES.
  16. Employees on Nonfarm Payrolls Growth Rates Source: Texas Workforce Commission & U.S. Bureau of Labor Statistics, CES.
  17. Fastest GrowingAmong the top 50 Metro Areas Source: U.S. Bureau of Labor Statistics, CES.
  18. Monthly Change in Payroll Jobs Seasonally Adj., Austin MSA Source: Texas Workforce Commission, CES
  19. Monthly Change in Payroll JobsSeasonally Adj., Austin MSA The Dallas Fed’s SA series differs from the SA series from TWC/ BLS due to the Dallas Fed’s adoption of a quarterly revision cycle. The TWC/BLS data is benchmarked only annually. Source: Federal Reserve Bank of Dallas, CES
  20. Job Growth by SectorNot Seasonally Adjusted Net job creation for the 12 months ending December 2013: +1,900 private goods producing jobs +23,400 private service providing jobs -1,600 government jobs Source: Texas Workforce Commission, CES.
  21. Employment by IndustryAustin MSA, Dec. 2013 Source: Texas Workforce Commission, CES.
  22. Employment by IndustryAustin MSA Source: Texas Workforce Commission, CES.
  23. New Jobs & Growth Rates by IndustryAustin MSA, Dec. ’12-Dec. ‘13 Source: Texas Workforce Commission, CES.
  24. Employment Growth Rates by Industry Dec. ’12-Dec. ‘13 Source: Texas Workforce Commission, CES.
  25. New Jobs & Growth Rates by Industry: Dec. ‘12-Dec. ‘13 Source: Texas Workforce Commission, CES.

  26. Workforce

    Local Area Unemployment Statistics (LAUS) & Current Employment Statistics (CES)
  27. EmploymentAustin MSA Source: Texas Workforce Commission.
  28. Employment Austin MSA Source: Texas Workforce Commission.
  29. Annual Change in EmploymentAustin MSA Source: Texas Workforce Commission.

  30. Workforce

    Current Employment Statistics (CES) & Quarterly Census of Employment & Wages (QCEW)
  31. Payroll JobsAustin MSA QCEW data lag CES estimate by several months, however QCEW data is based universe counts rather than sample based survey estimates. Preliminary CES data is revised annually based on QCEW data and other adjustments. Source: Texas Workforce Commission.
  32. Annual Change in Payroll JobsAustin MSA Source: Texas Workforce Commission.
  33. Employees on Nonfarm PayrollsAustin MSA The Dallas Fed revises their series quarterly based on QCEW releases, while BLS/TWC benchmark CES data to QCEW only annually. Sources: Texas Workforce Commission & Federal Reserve Bank of Dallas (CES).

  34. Workforce

    AVERAGE WEEKLY HOURS AND AVERAGE HOURLY EARNINGS
  35. Average Weekly HoursPrivate Industry Source: U.S. Bureau of Labor Statistics, CES.
  36. Average Hourly EarningsPrivate Industry Source: U.S. Bureau of Labor Statistics, CES.

  37. Business Cycle Index

  38. Metro Business Cycle IndexAustin MSA, Seasonally Adjusted The index summarizes movements in: Nonagricultural employment The unemployment rate Inflation-adjusted wages Inflation-adjusted retail sales December 2013: The index is 8.4% above the same month last year and monthly percent change has been positive since Sept. 2009. Source: Federal Reserve Bank of Dallas.
  39. Metro Business Cycle IndexAustin MSA, Monthly Percent Change Source: Federal Reserve Bank of Dallas.
  40. Business Cycle IndexMonthly Percent Change Source: Federal Reserve Bank of Dallas.
  41. Metro Business Cycle Index12-Month Moving Average of Monthly Percent Change Source: Federal Reserve Bank of Dallas
  42. Metro Business Cycle Index Growth Rates Source: Federal Reserve Bank of Dallas.
  43. Texas Index of Leading Indicators Source: Federal Reserve Bank of Dallas.

  44. Housing market

    PERMITS
  45. Housing Units Authorized by Building PermitsAustin MSA Monthly average 2006 2,175 2007 1,659 2008 983 2009 730 2010 732 2011 853 1,630 1,763 Source: U.S. Census Bureau.
  46. Housing Units Authorized by Building Permits Growth Rates Source: U.S. Census Bureau.
  47. Housing Units Authorized by Building Permits 12-Mo. Moving Avg. of % Ch. Source: U.S. Census Bureau.
  48. Valuation of Housing Units Authorized by Building PermitsAustin MSA Monthly average 2006 $262M 2007 237M 2008 154M 2009 104M 2010 107M 2011 114M 195M 240M Source: U.S. Census Bureau.
  49. Valuation of Housing Units Authorized by Building Permits Growth Rates Source: U.S. Census Bureau.

  50. Housing market

    HOME SALES & PRICES
  51. Home SalesAustin MSA 2013 home sales were up 19.4% over 2012. Source: Real Estate Center at Texas A&M University.
  52. Home SalesYear-Over-Year Percent Change Source: Real Estate Center at Texas A&M University.
  53. Months Inventory of Homes on the Market Source: Real Estate Center at Texas A&M University & National Association of Realtors.
  54. Median Home Price Source: Real Estate Center at Texas A&M University & National Association of Realtors.
  55. Median Home PriceGrowth Rates Source: Real Estate Center at Texas A&M University & National Association of Realtors.
  56. Housing Opportunity Index The HOI is a measure of the % of homes sold in a given area during the quarter that are affordable to households earning that area’s median family income. Source: National Association of Home Builders.

  57. Commercial real estate

  58. Austin Office Market Source: CoStar.
  59. Austin Industrial Market Source: CoStar.
  60. Austin Retail Market Source: CoStar.

  61. Sales tax & Retail Sales

  62. Local Sales & Use Tax Allocations Source: Texas Comptroller of Public Accounts.
  63. Retail SalesAustin MSA Source: Texas Comptroller of Public Accounts.
  64. Real Retail SalesAustin MSA, Seasonally Adj. Source: Federal Reserve Bank of Dallas.

  65. Venture capital

  66. Venture Capital Investment(Millions) Source: PricewaterhouseCoopers/Thompson Reuters/NVCA MoneyTree Survey.
  67. Venture Capital Funding per Deal Source: PricewaterhouseCoopers/Thompson Reuters/NVCA MoneyTree Survey.
  68. Venture Capital Investment Source: PricewaterhouseCoopers/Thompson Reuters/NVCA MoneyTree Survey.

  69. Patent activity

  70. Patents Issued to Austin Area Inventors Source: U.S. Patent & Trademark Office.
  71. Austin Area Patents as a Percent of Texas Patents Source: U.S. Patent & Trademark Office.
  72. Patents Issued to Austin Area Inventors Source: U.S. Patent & Trademark Office.

  73. Air service

  74. Total PassengersAustin-Bergstrom International Airport 2010-2011: +5.1% 2011-2012: +3.8% 2012-2013: +6.2% Source: Austin-Bergstrom International Airport.
  75. Total PassengersAustin-Bergstrom International Airport Source: Austin-Bergstrom International Airport.
  76. Revenue Passenger Enplanments Source: Austin-Bergstrom International Airport & U.S. Bureau of Transportation Statistics.
  77. Total Cargo ActivityAustin-Bergstrom International Airport 2010-2011: +0.2% 2011-2012: +1.5% 2012-2013: +1.9% Source: Austin-Bergstrom International Airport.
  78. Economic Indicators Contacts Beverly Kerr, Vice President, Research bkerr@austinchamber.com 512.322.5641 Chris Ramser, Director, Research cramser@austinchamber.com 512.322.5662 This file & latest monthly report/spreadsheets: www.austinchamber.com/site-selection/business-climate/the-economy/ Bi-monthly “Central Texas Economy in Perspective” article: www.austinchamber.com/site-selection/business-climate/the-economy/economy-perspective-rpt.php
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