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Austin deemed one of America's all-stars for job growth by new report

Austin deemed one of America's all-stars for job growth by new report

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From 2009 to 2018, Austin added 295,000 jobs for a growth rate of 38.1 percent. Maskot/Getty Images

In terms of job growth, Austin sits near the peak of the economic mountain in the United States.

new report from commercial real estate services company Cushman & Wakefield recognizes Austin as one of the top metros for job growth among 35 major areas from 2009 — at the end of the Great Recession — to 2018.

For the report, Cushman & Wakefield analyzed the percentage change in job growth from 2009 to 2018 for the 35 metro areas and the number of jobs those regions added during the same period. The company’s researchers then averaged those two figures to compute an overall score for each metro area.

Austin landed at No. 5, with an overall score of 8.5. In Cushman & Wakefield's assessment, the lower the number, the better.

The report shows that from 2009 to 2018, Austin added 295,000 jobs for a growth rate of 38.1 percent, the largest percent increase of the metros analyzed.

Austin was one of six "all-star" metro areas highlighted in the report. All of them have added jobs at a "breakneck pace" during the current economic expansion, Cushman & Wakefield says. At least for now, job growth in Austin shows little sign of letting up, in tandem with the area's continuing population boom, and consistent high marks for its quality of life.

Earlier this year, the Wall Street Journal named Austin the top U.S. job market, and another study called the Capital City one of the best performers in the country for jobs. In 2018, Austin was declared one of the top 10 hottest housing markets, a top economic powerhouse, and best place to live in the U.S. The year before that, Austin was named one of the best places for recent graduates and one of the world's top cities to watch.

Another Texas metro ranks No. 1 on the "all-star" list, with an overall score of 5. The report shows that from 2009 to 2018, Dallas-Fort Worth added 754,200 jobs for a growth rate of 25.7 percent.

In descending order, the all-star metros cited by Cushman & Wakefield are DFW; New York City and San Francisco, (each with a score of 7.5, tied for second place); Riverside-San Bernardino, California (score of 8, fourth place); Austin (8.5, fifth place); and Orlando, Florida (9, sixth place). 

(While Austin registered the largest percentage increase in jobs, the growth in sheer number of jobs places it at No. 16 among the 35 metro areas for total employment growth. Once those two figures were averaged, Austin sat at No. 5 in the metro rankings.)

Two other Texas cities — Houston (score of 13 in the Cushman & Wakefield report) and San Antonio (score of 18.5) — were among the metro areas in the next tier, which Cushman & Wakefield classified as “overachievers.” While not at the same level as the all-stars, these metros are outperforming the country as a whole, the report says.