Austin highest-rated recovery in U.S / 26th in the World

Austin was ranked as having the 26th best economic recovery worldwide, the highest rank of all U.S. cities, a report from the Brookings Institution said Tuesday.

The analysis ranked 150 cities according to three main indicators between 1993 and 2010: employment growth, per-capita gross value added and income per person. The group said Austin employment has grown 3.2 percent between 2009 and this year, while income has escalated about 2.7 percent.

Austin came in No. 40 for growth between 2007 and 2009, clocking in about 0.1 percent employment growth, but a 3.1 percent decline in income. The city was the 25th fastest growing economy between 1993 and 2007, elevating employment about 3.1 percent and income about 3.4 percent.

The local population has growth about 67 percent since 1993 to about 1,763,192 people, according to the report.

Istanbul, Turkey was the highest ranked city worldwide, though Asian cities dominated the listing. Austin edged out Montreal at No. 27, but was just below Sao Paulo, Brazil.

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Austin Business Journal