Market Blog

Austin Ranks Among Top Three Best US City Economies

 

According to research conducted by Business Insider, of the 40 biggest U.S. cities, Austin has the third best economy. All the United States’ big cities play a critical role in the country’s continued prosperity, but some just do it better. San Jose and San Francisco came in first and second.

Business Insider conducted their research by pooling together statistics about each cities’ unemployment rate, average weekly wage, job growth rate, GDP per capita, and GDP growth rate.

Austin especially shined when it came to the employment rate, unemployment rate and GDP growth rate. Between February 2017-2018 the Texas capital saw a 3.7 percent increase in employment, and its GDP growth rate was tied for third highest at 4.9 percent in 2016.

“Austin, home of the University of Texas' flagship campus, has always been known as a draw for creative and individualistic thinkers.”

Andy Kiersz | Business Insider

For more information on the other top 40 cities reference the original article here. The article also outlines some of the Fortune 1000 companies headquartered in the mentioned cities, in addition to other highlights of the local economies.

[Via Business Insider]

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