Austin Ranks Third on Forbes' Cities with Best Job Markets
Posted by Realty Austin on Monday, March 25th, 2013 at 10:25am.
Texas is heating up fast as one of the states with the best job markets in the U.S.! Forbes ranked five Texas cities in the 10 'Best Cities For Good Jobs', with Austin placing third on the list. Dallas came in first, Houston in second, Fort Worth in fourth, and San Antonio in sixth place.
Using Moody's Analytics data on the 100 largest metro areas, Forbes accounted for factors like rebounding markets, per capita income and unemployment rates. Austin's per capita income of $35,222 is just below the national average of $37,000 while the local unemployment rate of 5.2 percent is fairly below the national average of 8 percent. A few distinct factors attributing to Austin becoming one of the cities with the best job markets in the U.S. include increasing high-tech jobs from California and an increase in employment in government, construction, and education.
As a state, the Moody's data showed that Texas did not suffer as much as others did in the financial crisis. And as a ciity, Dallas Federal Reserve Economist Pia Orrenius puts it best: "The hottest place to be in Texas is Austin. They're just booming."
Forbes' Top 10 Cities with Best Job Markets:
- Dallas, TX
- Houston, TX
- Austin, TX
- Fort Worth, TX
- Seattle, WA
- San Antonio, TX
- Oklahoma City, OK
- Denver, CO
- San Francisco, CA
- Salt Lake City, UT
To find out more about why Austin, TX and other cities made the Top 10 Best Cities for Good Jobs in America, visit Forbes.com.
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