Wage and Economic Indicators Report Data as of December 2023
In response to requests from our members, the Round Rock Chamber will begin to report wage information for the Round Rock area on a quarterly basis. Information provided is available to the level the Chamber is currently able to identify through current sources and will continue to refine the information provided based on information collected locally and through other points of information requested. For this report, the information has been updated through the end of Q4 2023, and certain slides have data closer to the date this information is published.
Economic Indicators
As of the latest data available, the unemployment rate in Round Rock is 2.8% compared to 3.5% for Texas and 3.5% for the US (all not seasonally adjusted). Round Rock’s unemployment rate has fluctuated slightly but has remained consistently low since the beginning of 2022 as compared to the unemployment rates for Texas and the US. The highest unemployment has been in Round Rock for 2023 was 3.6% in July and August.
Employment levels continue to generally trend upward. In October 2023, employment was reported at 83,145 and increased to 83,777 in November. However, numbers have decreased slightly to 83,004 as of December 2023. Additionally, most industries have reported generally increased employment from last year and even last month, matching with the upward trend of employment for the area. The only exception to this trend is a decrease in employees in the Information industry.
Cost of Living Index
Based on data provided through JobsEQ and through Q3 2023, the cost of living estimates the relative price for consumer goods and services. When compared to the U.S. average, the City of Round Rock, TX average is 2.6% lower. The average annual salary for the City of Round Rock is $72,613, which has a purchasing power of $74,586 compared to the US.
Industry Snapshot
According to JobsEQ and Texas Workforce Commission data, the largest sector in the City of Round Rock, TX is Retail Trade. The next-largest sectors in the city are Wholesale Trade, Accommodation and Food Services, Manufacturing, and Health Care and Social Assistance.
According to JobsEQ, sectors in the City of Round Rock with the highest average wages per worker are Management of Companies and Enterprises, Manufacturing, Wholesale Trade, and Professional, Scientific, and Technical Services.
Keep scrolling for additional detailed economic indicators such as local employees by industry, wage information by industry and occupation, interest rates and more.
Wage and Economic Indicators Report Data as of December 2023
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