Reports: Texas cities listed among top for career growth

(The Center Square) – As Texas continues to lead the U.S. in employment and economic growth, several of the top cities for career growth in the U.S. are also in Texas, according to several reports.

According to a recent moveBuddha report, job growth in Dallas, Austin, San Antonio and Houston is the highest in the state. Nationally, Dallas and Houston “are not only great for jobs, but they have consistently been move magnets,” it says.

In one recent MoveBuddha report, 51 U.S. metro areas with over a million residents were evaluated to determine where and why job seekers were moving. Two Texas cities ranked in the top 10: Dallas (5th) and Houston (10th). Austin (11th) and San Antonio (21st) were not far behind.

The report also found that Dallas, Austin and San Antonio were among the top 10 best metros for job growth, growing by roughly 3% over the year evaluated compared to the average growth across 51 cities of 1.7%.

The analysis determined the best and worst metro areas for job seekers in 2024 by evaluating percent growth in total nonfarm employment and the unemployment change from November 2022 to 2023. It also evaluated the percent increase in average annual wages from 2021 to 2022 and move-in-to-out ratio using moveBuddha proprietary data.

“Texas’s big cities continue to attract new moves thanks to a continual flow of companies choosing the Lone Star State, opening up an ever-increasing number of job opportunities,” the report found. The findings are consistent with other rankings listing Texas as the top state for attracting new business last year.

Texas ranked first in the U.S. in 2023 for having the best business climate in one ranking. It was also named the “Best State for Business” for a record-breaking 19 consecutive years in another.

Texas also won identified as having the best business climate last year; another survey identified six Texas counties as talent and economic powerhouses in the top 10 nationwide.

Texas added more jobs in 2023 than any other state in the country, The Center Square reported. Every month, Texas breaks its previous month’s records in reporting the greatest number of total jobs on record, the greatest number of Texans working, and the largest labor force in state history.

The moveBuddha analysis gives insights to its rankings of Texas’ four largest cities.

Dallas ranked as the top large Texas city for career growth. “Not only does it have the highest job growth from 2022 to 2023, but in the past year and into 2024 the DFW region has welcomed more new businesses from out of state than either Austin or Houston,” the report said, citing Build Remote data. Seven of the top 25 cities for high inflow were in the Dallas-Fort Worth metro area.

Dallas’ job growth rate was 3.3% in 2022-2023, its unemployment rate dropped by nearly 3%, and its annual wage increase from 2021 to 2022 was over 5.4%, the report notes.

By comparison, Houston’s job growth rate was 2.3%, its unemployment rate dropped by 3%, and its annual wage increase was 5% over the same time periods analyzed.

“Houston’s ranking above Austin may come as a surprise, but moveBuddha data shows that interest in moving to Houston is especially high among the four biggest cities in Texas,” the report states, citing a diverse job market and “booming industries.”

Austin’s ranking “suffered,” the report says, primarily because of high home values and increased unemployment, “which may be attributed to tech-related layoffs,” a concern echoed by economists, The Center Square has reported. Austin has been impacted by local real estate prices surging, pricing many out of the market. Its “median home value for all homes” increased by 50% in five years, a separate moveBuddha report notes.

Job growth still remains strong in the capital, the analysis found, with Austin reporting the highest wage increases of the largest cities in Texas. Austin’s job growth rate was 2.8%, its unemployment rate increased by 7%, its annual wage increased by 6% over the same time periods analyzed.

San Antonio’s job growth was 2.6%, its’ unemployment dropped 9%, and its annual wage increased by 4% over the same time periods analyzed.

“San Antonio’s steady growth sets it apart as a beacon for job seekers and businesses alike,” the report states. “While it may not capture headlines like Austin or Dallas, this Texan city’s rising job growth, significantly dropping unemployment rates surpassing those of other major Texas cities, and steadily increasing wages signal a thriving economic environment. San Antonio’s allure extends beyond just the numbers; its lower cost of living, rich cultural heritage, and diverse economy spanning tech, healthcare, and manufacturing make it an attractive destination.”

Among Texas counties, Collin, Fort Bend, Williamson, Denton and Montgomery gained the most residents, moveBuddha found, consistent with new Census data. Half of the top 10 counties nationwide reporting the highest net domestic migration in 2023 were in Texas: Montgomery, Collin, Denton, Williamson, and Fort Bend.

In moveBuddha’s 2022-2023 Texas migration report, it states that nearly 24% of those moving to Texas are from California. “Californians are moving to Texas more than any other state,” it said. Census data and other reports identify a similar trend, also identifying that more than half of the companies that left California since 2005 moved to Texas.