Austin still ranks among fast-growing U.S. cities, fueled by job growth

Sep 25, 2014
Austin Business Journal

The fact that the Austin area has the fastest-growing economy among other large U.S. cities is not surprising. We've heard that news for years now

But those "big cities" in America are actually a small slice of the Census defined areas dubbed "metropolitan statistical areas," which track economic and population data for small city-focused regions across the country. In all there are more than 500 of those

Even when stacked up against this larger pool of candidates, Austin still cracks the top 10, and remains No. 1 among its peer metro regions with more than 1 million residents, in total economic and demographic growth since the Great Recession, according to a new analysis of Census data from personal finance website WalletHub

According to the report, Austin is the eighth-fastest growing city in America. The report ranked cities by combining multiple criteria, including population growth, working-aged population growth, educational attainment growth, uninsured rate decrease, median household income growth, unemployment rate decrease, job growth, poverty rate decrease, ratio of full time to part time jobs increase and growth of regional GDP per capita

Austin's ranking was helped most by job growth, a category where it ranked 23rd out of the 516 metropolitan areas analyzed in the report. But it was held back by its population growth of workers, ranked 71st, its overall population growth, ranked 68th among all metro regions, and poverty rate decrease, ranked 61st

The overall rankings were led by Mission, Texas, in the far southern tip of the state. Texas cities dominated the top 10, with five Lone Star locales cracking the elite part of WalletHub's ranking. Just ahead of Austin was Concord, North Carolina, ranked No. 7

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