Austin has been listed as the number one market on the On Numbers Economic Index for five of the past six months. The list ranks 102 major markets based on an assessment of private-sector job growth, unemployment, earnings, housing-price appreciation, and construction and retail activity. Austin has consistently out-ranked other markets and maintained the national lead for economic strength based on multiple factors.
Strong Job Growth
Austin’s private-sector jobs have grown by 11 percent in the past five years, far exceeding any other market’s job growth rate.
While most markets’ unemployment rates are over 5.5 percent, Austin’s is 5.3 percent.
Austin’s private-sector jobs have seen weekly earnings increase by 7.6 percent in the past year.
Austin’s retail sector has seen employment increase by 8.2 percent in the past five years.
Stable Home Values
While most markets have seen a decline in home value since 2008, Austin has seen a 4.7 percent increase.
As Austin continues to lead the nation in economic strength, MDI Group’s local branch office is ready to help organizations in this thriving market tackle what’s next in terms of emerging technology projects and challenging business objectives.
To read more, check out the full article from the Austin Business Journal.