Overall unemployment rate moved down to 3.5% with the biggest shift in Government, which lost 100 roles, based on the most recently available information published in September 2022.
Total employment in the Lubbock, TX market declined by 864 jobs in August and the unemployment rate decreased compared to the prior month by 30 bps to 3.5%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Lubbock, TX unemployment rate is 29 bps below the national rate which is a positive sign.
- Unemployment in the market is 90 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 1.7% and are equal compared to last year at this time in the market.
For key employment segments of the market, total jobs stayed flat. Key sectors include:
- Government: 33,000; -100
- Transportation & Utilities: 32,400; no change
- Education & Healthcare: 23,000; +100
- Restaurants & Hotels: 22,900; -100
- Business Services: 13,700; -100
- Construction, Mining: 9,600; +100
- Financial Services: 8,100; no change
- Other Jobs: 6,400; +100
- Manufacturing: 5,000; no change
- IT & Development: 1,900; no change
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.