Forbes: Austin best economic recovery in U.S.
March 19th, 2010
The Austin-Round Rock area tied for first on a list of large metros where the recession is easing.
Central Texas tied Washington D.C. in the Forbes.com ranking that compiles job growth and real estate industry improvement, among other indicators. Washington has one of the lowest unemployment rates in the nation, 6.2 percent, and the city produced more goods and services than another other in 2008.
Austin has also maintained relatively lower jobless rates, though the number increased to 7.6 percent last month from 7 percent, according to the Texas Workforce Commission. Statewide, the rate was unchanged at 8.2 percent from December to January, compared to 9.7 percent nationally.
Austin and Washington D.C. also benefit from their high government job generation, according to Forbes. The number of Central Texas jobs increased just shy of 1 percent between 2007 and 2009, more than any other city included in the research.
Dallas came in second on the ranking behind Austin. The number of jobs there are expected to increase more than 7 percent in the next three years. San Antonio and Houston also made the top 10 list.
Job growth projections were based on information from Moody’s. The listing also considered median home sale price changes and Metropolitan Gross Domestic Product.
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