Austin Has the Third Best Job Market in the Country

Posted by Crystal Olenbush on Monday, February 7th, 2011 at 12:08pm.

According to a recent report released by Forbes, Austin has the third best employment opportunities in the nation. The capital city earned this distinction for a multitude of reasons, with the primary reasons cited by the publication being:

  • The city’s relatively low unemployment rate, which is currently sitting at about 7.0 percent
  • The relatively low job-seekers to employment openings ratio, which is currently at about 2.39 to 1

According to Forbes, there are many reasons why Austin has managed to maintain a low unemployment rate. Aside from being a state capital, Austin is also a major convention center. As such, Austin plays an integral role in the music industry. Other aspects that have helped the city thrive include the fact that a number of technology companies are based in the capital city combined with the fact that Austin is home to the University of Texas.

In addition to being a major hub for technology, Austin is also a leader in the green movement. Just this past October, for example, officials from the capital city announced that a new Eco-Merge Green Corporate Center will be coming to the city. This center will focus on producing new forms of technology. Officials have also reported that several international firms have plans to open up facilities in Austin. These include Toshiba and Taiwan Clean Energy.

Austin’s ranking on Forbes most recent list isn’t the first time the capital city has found itself on a Forbes “best of” list. In fact, Forbes selected Austin as the number one city most likely to see an economic recovery, the second most innovative city, the eighth best city for businesses and careers and the tenth best city for young professionals.

In respect to this most recent list, Washington, D.C. took the number one position. This is largely due to the fact that the nation’s capital currently has the lowest unemployment rate and has approximately one advertised job for every job seeker. On the other end of the spectrum, Las Vegas was ranked as having the worst job market. With an unemployment rate of 14.3%, Las Vegas is a long way from the 6% unemployment rate currently enjoyed in D.C.

4 Responses to "Austin Has the Third Best Job Market in the Country"

Portland Real Estate wrote: Wow. Those unemployment numbers are awesome. We are at 10+ percent and although it's not quite as bad as Las Vegas, it's pretty tough.

Posted on Monday, April 11th, 2011 at 5:25pm.

Kevin Ranch wrote: I have to agree with Brian.. jealous San Diego is still looking down... but hopefully in a year we can see the real estate market moving up again.

Posted on Tuesday, April 26th, 2011 at 1:13pm.

Kevin Hughes wrote: Its interesting to observe the correlation between Austin's low unemployment rate and its stronger than average housing market. Clearly Austin's diverse employment base has softened the blow of the U.S housing downturn affecting many other areas. Now Austin residents can enjoy a housing industry which in turn makes a positive contribution to the area's economic vitality.

Posted on Sunday, May 1st, 2011 at 11:16am.

Florida Golf Homes wrote: Anything below 10% for unemployment is a milestone in this economy! One thing not mentioned is Austin has some of the best food too :).

Posted on Thursday, June 9th, 2011 at 9:05pm.

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