奥斯汀经济指标：就业小幅回落，第三季度商业地产需求走强

October 27, 2026

Employment ticked down in the three months ending in September, with mixed growth across sectors. The unemployment rate was flat. Wages increased in September. Meanwhile, both office and industrial real estate demand were strong in third quarter 2026.

Labor market

Employment declines in September

Austin employment fell an annualized 0.8 percent in September after declining 3.0 percent in August. Texas employment dipped 1.6 percent in September while employment nationally grew 0.2 percent. Employment in Austin has expanded 23.6 percent since February 2020, while employment rose 11.4 percent statewide and 4.4 percent nationally (Chart 1).

Employment expansion mixed

Austin payrolls declined an annualized 0.3 percent from June to September despite 0.8 percent growth year to date (Chart 2). The sectors with the fastest three-month payroll gains were manufacturing (5.6 percent), information (3.6 percent), and leisure and hospitality (2.2 percent). The sectors with the largest payroll decrease over the same period were government (4.8 percent), mining and construction (4.0 percent), and education and health services (3.9 percent).

Unemployment rate flat

The Austin unemployment rate was unchanged at 3.6 percent in September (Chart 3). Austin's labor force edged up an annualized 0.4 percent in September and added 5,000 individuals since September 2025. The jobless rate is higher both in Texas (4.4 percent) and the United States (4.2 percent).

Wages increase

The three-month moving average of nominal hourly wages in Austin increased to $38.04 in September. Year over year, Austin wages grew 4.9 percent in September, while wages in Texas and the U.S. rose 5.3 percent and 3.1 percent, respectively (Chart 4). Wages in Austin are higher than the state ($36.34) and the nation ($37.74).

Commercial real estate

Office real estate demand improves

Office leasing improved in the third quarter. Net absorption was 592,000 square feet, above the previous quarter, according to data from CBRE Econometric Advisors (Chart 5). The vacancy rate was unchanged at 20.1 percent. Net asking rents in the metro rose from $32.06 per square foot per year to $33.36 per square foot per year.

Industrial real estate continues to strengthen

In the same vein, industrial leasing remained solid. Net absorption also increased from the previous quarter to 3,277,000 square feet (Chart 6). Meanwhile, the vacancy rate decreased to 16.2 percent while net asking rents ticked down from $14.48 per square foot per year to $13.96 per square foot per year.

NOTE: Data may not match previously published numbers due to revisions.

About Austin Economic Indicators

Questions or suggestions can be addressed to Sebastian Naginski. Austin Economic Indicators publishes bimonthly after state and metro employment data are released.