January / February 2013 Austin Texas Economic News

DATA COMPILED BY BOB ROBERTS, GRACY TITLE, AUSTIN, TX.

February 2013: Austin takes the No. 3 spot for Job growth with a five-year expected annual job-growth rate of 3.2 percent

• Austin ranked number 3 for job growth on Forbes’ “Best Cities for Good Jobs” list
• Austin’s Annual FIVE YEAR expected job-growth rate is projected to be 3.2% (trailing 12 months was 4.4% with 35,200 new jobs created!)
• Per capita income of $35,222 and 5.2% unemployment (National average per capita income is $37,000 and US unemployment is 8%)
• Texas took half of the top spots with Dallas ranking number 1, Houston number 2, Fort Worth number 4 and San Antonio number 6.
• Texas benefits from being the “nation’s energy capital” with a booming shale revolution
• Forbes used Moody’s Analytics data on the 100 largest metropolitan areas to compile the list.

January 2013: Austin tops Forbes’ list of America’s Fastest-Growing Cities for the third year in a row

• Austin “is an economic powerhouse. With an estimated annual population growth rate of 3% for 2012 and 2013, a 3% rate of job growth in 2012, 4.9% unemployment, and an economy that expanded 6.3% last year, Austin takes the top spot on Forbes’ annual list of America’s Fastest Growing Cities for the third year in a row.”
• Texas welcomed more than 427,000 newcomers from August 2011 to July 2012, according to the U.S. Census Bureau
• Texas cities dominated the list. Houston ranked second, behind Austin, followed by Dallas in third place and San Antonio in ninth.
• Robust labor markets, unemployment rates under 6% (well below the national average), no state income tax, a business-friendly regulatory environment, and strong population inflows all contributed to Texas towns’ high rankings.

January 2013: Texas named 2012’s top state by business magazine

• Business Facilities magazine named Texas 2012 State of the Year for having “the most dynamic economy of any state in the nation.”
• Texas bounced back over pre-recession levels of job faster than anywhere else in the U.S.
• Austin was also recognized for landing Apple Inc.’s new global operations center
• Other states in the top five include Louisiana, South Carolina, Georgia and Utah.

January 2013: Austin named best city for job-seekers

• NerdWallet looked at four factors (population growth, income, unemployment rate and cost of living) to determine that Austin was the best city for job seekers
• Austin had the highest percent growth in population and the lowest unemployment rate
• Austin’s median income is moderately high and the cost of living is low
• Also highlighted was Austin’s tech industry including Dell, Apple, Google, IBM and the growing biotechnology field