Wage and Economic Indicators Report Data as of September 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 Q3 2023.
As of the latest data available, the unemployment rate in Round Rock is 3.4% compared to 4.1% for Texas and 3.6% 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 July 2023, employment was reported at 82,397 and dipped slightly to 81,371 in August. However, numbers have increased again to 82,819 as of September 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 Q2 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 2.2% lower. The average annual salary for the City of Round Rock is $73,512, which has a purchasing power of $75,173 compared to the US.
According to JobsEQ and Texas Workforce Commission data, the largest sector in the City of Round Rock, TX is Wholesale Trade. The next-largest sectors in the city are Retail Trade, Accommodation and Food Services, Manufacturing, and Health Care and Social Assistance. These are the same largest sectors from the previous report.
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.
For additional detailed economic indicators such as local employees by industry, monthly enplanements at ABIA, interest rates, and more, click HERE.
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