Texas Is Where the Jobs Are, Wall Street Journal Says

What two Texas cities are hot for jobs? What is the most expensive neighborhood in Texas? Who was honored locally for their work in providing summer meals to reduce childhood hunger? We have all this and more in this week’s roundup of real estate news.
Austin No. 1 Nationally for Jobs, Where Does Dallas Rank?

Austin is tops in the nation when it comes to having the hottest labor market, the Wall Street Journal’s analysis of 53 metro areas with more than one million people revealed.

Austin has an unemployment rate of 5 percent, 70.6 percent labor force participation, 4 percent wage growth, 3 percent labor force growth, and 3.5 percent job growth, according to the report.

“The area that is home to Dell Inc., Amazon’s Whole Foods and the University of Texas ranks high in all metrics, and just landed another prize employer: Apple Inc.’s $1 billion campus,” the report said.

Dallas also ranked highly, coming in with 3.5 percent unemployment and 3.3 percent wage growth. Other cities that ranked as being hotter than the rest of the country were Denver, Seattle, Nashville, Raleigh N.C., Orlando, Boston, Salt Lake City, and San Jose.

Texas was the only state with two cities on the list.

“The Journal’s ranking is based on five attributes: average unemployment rate in 2018; labor-force participation rate in 2018; the change in employment and change in labor force for the fourth quarter of 2018 from a year earlier; and the change in average weekly wage in the first half of 2018 from the first half 2017, reflecting the latest available wage data,” the report explained. “The area with the highest average ranking among the five categories was determined to be the hottest labor market.”

Bethany Erickson

Bethany Erickson

Candy's Dirt

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