Austin Leading the Country while Job Growth in Houston Loses Momentum
Earlier this week, the Bureau of Labor Statistics published the latest metro level job numbers. On a year-over-year basis, Austin continues to hold the number one position in the country, followed by Charleston and Phoenix. The remaining top ten markets, which all posted annual growth rates in excess of 1.0 percent, include; Washington, Minneapolis, New York, West Palm Beach, Baltimore, Orlando and Boston. In addition, I have calculated 3-month annualized growth rates for these same metros. This gives a more “real time” view of employment and can often be a way of identifying a turning or inflection point. Using this measure, Phoenix gets a special mention with an impressive 3-month growth rate of 4.74%. Other cities that posted healthy growth rates and could be on the cusp of becoming growth leaders include; Charlotte, Nashville and Fresno.