No wonder so many people are flocking to Dallas. A new ranking by The Wall Street Journal lists Dallas as the tenth hottest job market among the country’s 53 largest metro areas.
To determine the country’s hottest and coldest labor markets, WSJ looked at five metrics for each of the 53 metro areas: average unemployment rate in 2018, labor-force participation rate in 2018, change in employment and change in labor force for the fourth quarter of 2018 from a year earlier, and change in average weekly wages from the first half of 2017 to the first half of 2018.
The metro area with the highest average ranking among the five categories was named the hottest labor market. Dallas ranked No. 10, with a 3.5 percent unemployment rate and 3.3 percent wage growth, according to the report.
Austin, though, topped the list. The Capital City came in second for job growth (3.5 percent) and labor-force growth (3 percent); third for labor-force participation (70.6 percent); sixth for unemployment rate (3 percent); and 12th for wage growth (4 percent), earning it the top spot.
Austin also was followed in the ranking by San Jose, California; Salt Lake City; Boston; Orlando, Florida; Raleigh, North Carolina; Nashville, Tennessee; Seattle; and Denver.