The Austin Business Journal (ABJ) reported this week that Austin came in second nationwide in a study conducted by the American City Business Journals. In fact, Texas held the top three spots with Houston coming in first and Dallas-Fort Worth rounding up third. Specifically, Austin posted an annual employment growth rate of 6.4% since June of 2008. The study utilized a formula that analyzed employment in the nations 100 largest labor markets which held over 116 million private sector jobs as of June 2008. The study continued to report that Austin has seen 22% job growth in the last five years which puts Austin on par with Las Vegas which ABJ said, “is often heralded as the fastest growing American city”. As the rest of the nation falters economically, Austin continues to buck the trend and hopefully side step the worst effects of the national housing downturn.
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