http://money.cnn.com/gallery/real_estate/2014/03/27/fastest-growing-cities/index.html?iid=SF_E_River
This article lists the top 10 fastest growing cities in the
US, according to data from the Census Bureau, between July 2012 and July 2013.
Austin, Texas is rated 1st with a 2.6% gain in growth due to its
thriving university town - University of Texas has 50,000-plus enrollment - and jobs. Falling to 4.7% rate unemployment,
Austin has the lowest unemployment rate of any metro area with a population of
one million or more. Houston, TX is second due to jobs in its energy sector and
affordable homes. Jobs and hiring is a major indicator for the growth of each
of the listed growing cities. The unemployment rate has dropped from 2012 in
each of these cities. There are other indicators for growth in major cities,
but it seems that increasing job opportunities and lowing the unemployment rate
is the stem of growth in the current economic state that the US is in after the
great recession.
I was surprised there wasn't a Silicon Valley city in the top ten because of all the businesses and young people moving to that area. What was interesting was all the cities are in the south and they are not manufacturing cities. This only reassures the fact that services jobs are continuing to grow and will be the leading factor for job growth.
ReplyDeleteAfter looking at the list, I think it is really interesting that a city like Phoenix is one of the fastest growing cities, but it still suffers from a high rate of unemployment. On the other hand, in places like Oklahoma City, jobs seem to be plentiful.
ReplyDeleteIt seems interesting that all of the cities listed are in the South. There are probably several reasons for this. As showed by the example of Houston, there is a lot of opportunity for new jobs in the South due to energy and oil companies looking to invest in this area. We also see this happening in Montana and areas in the North. Furthermore, our country is getting older, and so we should expect more people moving to the South for retirement. I know some people who have done that personally.
ReplyDeleteInteresting article. I too noticed that a majority of the cities that experienced fast growth were the southern states. I think especially now since the winter has been so harsh this year. I agree with Matt, in that the baby boomers are retiring so they will now choose to move down south.
ReplyDeleteAustin, Texas is a great city that is known for its barbecue and friendly environment. As a visitor there, it would be a great place to live. The mayor is interactive with the citizens, and I think with more growth and tourism in the city, it would really help businesses in Austin. In addition, their SXSW festival everywhere brings a lot of profit for businesses in Austin. A lot of Fortune 500 companies are stationed in Austin, Texas, so I strongly think that Austin could have a national impact on GDP for the United States.
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