For years, Austin has been touted as one of the country’s sizzling hot job markets. But these days, local job growth is fizzling.
New data from the U.S. Bureau of Labor Statistics shows the Austin area recorded job growth of just 1.9 percent from December 2015 to December 2016. That figure puts Austin at No. 25 among the 50 largest metro areas for job growth. During that time period, Orlando, Florida, topped the list of fastest growing metro areas, notching a growth rate of 4.2 percent.
The federal statistics underscore a pattern that’s been seen for more than a year. Since the end of 2015, job growth in Austin “has slowed sharply,” according to the Federal Reserve Bank of Dallas. In its most recent report about Austin, the Federal Reserve says the local economy expanded at a “moderate pace” in November.
