According to Moody's Economy.com, Austin ranks high in the lists of the best cities in the country for jobs in 2008. Moody's uses five data points to create these rankings (they are weighted equally): the state's unemployment rate, job growth, income growth, median household income and cost of living for the full year of 2006.
It seems that Texas is generating more jobs than the national average leading to low unemployment. Businesses continue to expand or relocate to Texas because of the favorable business climate here. That is great news for those of us in real estate as there is definitely a correlation between an increase in jobs and an increase in home sales.
Incidentally, several other Texas cities were on the list: Fort Worth, Houston, San Antonio and McAllen. The number one city on the list: Salt Lake City because of their tech-job abundance.
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