Dallas and Austin among Best Job Markets in July | Texas News
(The Center Square) – The Texas labor market dominated the country last month, with Dallas and Austin both ranking among the top three performing US labor markets, according to an analysis of federal employment data by the software company. Think why.
Dallas-Fort Worth ranked the nation’s number one job market in July, followed by Phoenix, Arizona, and Austin-Round Rock.
ThinkWhy, which generates the rankings using its proprietary LaborIQ technology, ranks major metropolitan areas on 10 economic factors such as net migration, labor force participation, and wage gains.
Although job openings remain at record levels with more than 9.2 million open positions across the country, Texas has seen some of the highest levels of population growth in the country over the past decade, putting the state in a stronger position to fill vacancies.
“Despite the pandemic, people and businesses were already on the move in the Dallas-Fort Worth and Austin areas,” the analysis says, adding that jobs in both cities have recovered faster due to greater availability of talent.
However, the most recent unemployment rate in Texas in June was 6.5%, significantly higher than in many states, according to the US Bureau of Labor Statistics.
Dallas has consistently ranked among the top two performing cities in the market this year, while Austin has steadily improved. Net migration, job gains and population growth are the main drivers of economic progress in both cities.
Denver and Raleigh, North Carolina, also rank in the top five job markets in the United States.