Round Rock economy takes national stage

ROUND ROCK, Texas (KXAN) - Round Rock Mayor Alan McGraw spoke about the city's financial success on a segment of CNBC's Power Lunch Friday morning.

With the government jobs report out, CNBC contacted the City of Round Rock .

"We wanted to hear from a vibrant, leading U.S. city and their plan to entice and retain workers in challenging economic times," a CNBC producer stated in an e-mail to the City.

The government said the number of newly laid-off workers seeking unemployment insurance fell last week, fresh evidence that we could be moving from recession to recovery.

The U.S. Department of Labor said initial claims for jobless benefits dropped to a seasonally adjusted 550,000 for the week ending Aug. 1, down from 580,000. The number is much lower than analysts estimated.

Texas unemployment rate sits at 7.5 percent, two points lower than the U.S. rate at 9.5 percent in June.