Local jobless rate rises to 5%

From Austin Business Journal, December 19, 2008...

Austin’s unemployment rate hit 5 percent in November as the region struggles under the yoke of recession.

The number of area workers unemployed reached 43,800 in November, up from 41,500 in October and a significant increase from the 30,300 who were unemployed a year ago. The unemployment rate was 4.8 percent in October.

The Austin area’s civilian labor force grew by 15,900 people in the last year. At the same time, the region has only added 12,600 new jobs for a growth rate of 1.6 percent.

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