AUSTIN TO LOSE 2,800 JOBS IN 2009, CHICAGO TO LOSE 80,300

Posted on January 20, 2009. Filed under: -- Austin Related | Tags: , |


By Molly Greaves

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As per the Austin Business Journal today:

A report prepared for the U.S. Conference of Mayors forecasts the Austin-Round Rock region will actually shed some 2,800 jobs in 2009, a decline of 0.4 percent.

 

They said the report also anticipates that the local unemployment rate will rise from 4.8 percent at the end of 2008 to 6.1 percent at the end of this year.

The study, conducted by IHS Global Insight, said that of the 363 metropolitan areas studied, only five are not expected to see job losses this year. McAllen is the only Texas market that will actually see a slight job increase.

According to statistics from Austin consulting firm AngelouEconomics, the region added some 29,100 jobs in 2008. The same study released last week predicted that Austin would add about 2,100 jobs in the next year–a dramatic decline in new jobs but still a positive figure.

The Global Insight report suggests otherwise. The anticipated job change in Austin places the city 141st among the 363 metro areas in terms of projected numerical losses. Among the other Texas markets, Dallas ranks 10th for the most anticipated job losses at 45,200. Houston ranks 11th at 43,800 expected job losses. San Antonio is 50th with a projected decline of 8,100 jobs.

New York City will lose the most jobs in 2009 — 181,000 jobs, the report said. Los Angeles will have the second-greatest losses at 164,000, followed by Miami (85,000), Chicago (80,300) and Boston (58,500).

The report notes that unemployment will top 10 percent in 70 metro area including Detroit and Cleveland.

Click here to go to the Austin Business Journal article.

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