Austin Still Firing on All Cylinders
- November 1, 2013
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So I guess Austin is still firing on all cylinders:
With an overall score of 83.9 out of 100 based on 18 economic factors, Austin tops the list of 102 cities measured in the monthly report by The Business Journals’ On Numbers.
The Texas capital, with an unemployment rate of 5.2 percent and five-year wages growth from October 2008 through October 2013 of nearly 15 percent, had held first place for eight of the first 10 months in 2013.
Okay, that’s pretty good. But, what about job growth as a factor?
The biggest reason why Austin remains No. 1 is its job-growth record. On Numbers reports that Austin is the only city in the nation — pause for a second, and let that sink in for minute — with double-digit percentage job growth in that five-year period, at just under 11 percent. By comparison, no other U.S. city has seen five-year job growth higher than 8 percent.
Put another way, Austin’s growth rate over 5 years was a good 3 points higher than any other city – out of 102 cities in the study – and the only one over 10 percent. That’s kind of incredible when you think about it.
We’re happy to have been part of that job growth here in Austin. Not all of our employees are based here, but our office has grown considerably over the last few years- and we’ve just added 5 more people in the last month, right here in Austin. Just doing our part!