Austin Ranked 3rd Best Job Market in US - Forbes.com

On the eve of a Katie Couric interview on Austin's job market, the city was ranked as having the third best employment prospects in the U.S.

Forbes.com released a report Thursday ranking Austin 3rd best job market in the U.S. The business publication cited the city's low unemployment, about 7.1 percent, and low job-seekers per opening ratio, about 2.39 to one.

Forbes said Austin has many assets that have helped it weather the downturn: It's a state capital and major convention center, especially for the music industry, and home to the University of Texas and a wealth of technology companies.

In October, Austin officials announced a new Eco-Merge Green Corporate Center devoted to producing new technologies, Forbes said. Also, several international firms, including Toshiba and China's Taiwan Clean Energy, plan to open shop here.

The listing is not Austin's first appearance on Forbes' best of lists. The publication ranked Austin No. 1 last year for economic recovery, 8th best for business and careers, No. 2 most innovative and 10th best place for best cities for young professionals, among other rankings.

Washington, D.C. topped the most recent list as healthiest labor market among major U.S. metro areas. By one estimate, the nation's capital has roughly one advertised job opening for every unemployed worker in the region. Its unemployment is just 6 percent, the lowest among the country's largest 50 metros.

Las Vegas was ranked as having the worst major job market with 14.3 percent unemployment and eight unemployed workers for every job opportunity.

The see the full listing, click here.

Austin Business Journal
1/7/2011