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Austin jobless rate drops again

The Austin-area unemployment rate dropped in April to 5.5 percent, the lowest the regional unemployment rate has been in more than three years, the Workforce Solutions Capital Area Workforce Board said Friday.

The unemployment rate for the area in March was 6 percent.

The Austin metropolitan area is hot for economic growth, drawing new business and adding jobs, Alan Miller, executive director of Workforce Solutions Capital Area said. The Capitol City added 6,300 jobs over the past month, and 19,700 over the past 12 months. The construction and professional and business services sector led the way for new job growth adding 5,700.

Meanwhile, the Texas unemployment rate fell to 6.9 percent in April, adding 13,200 nonfarm jobs. It was 7 percent in March.

The U.S. jobless rate is 8.1 percent. Source: Austin Business Journal

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Home builders

It’s been five years since home builders have been this confident in the market for new single-family homes.

The National Association of Home Builders/Wells Fargo Housing Market Index gained five points in May to hit 29, the index’s highest level since May 2007. The index is based on a survey of home builders, who answer questions about the current market as well as sales expectations for the next six months.

"Builders in many markets are reporting that buyer traffic and sales have picked back up after a pause this April," said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla.  Click here to read the entire article at Austin Business Journal.

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