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Forbes: Austin a great place to find jobs
Austin Business Journal - March 1, 2007

Local residents looking for a good job may be in store for a little competition, thanks to a recent Forbes list.

According to the magazine, Austin is one of the top 25 cities for job opportunities.

Last year, the Austin-Round Rock area ranked 51st on Forbes' top 100 list of best cities for jobs. But this year, the Capital City skyrocketed 28 spots up to number 23.

To compile the rankings, Forbes used five data points, weighted equally: unemployment rate, job growth, income growth, median household income and cost of living. The magazine measured the largest 100 metropolitan areas, as defined by the U.S. Census Bureau.

But Forbes updated the methodology since the last time the company conducted the survey. In 2006, Forbes used a five-year average for job growth and income growth, so the 2001 economic downturn was included in the data. According to the magazine, that disproportionately hurt financial centers like New York and technology hubs like San Francisco and San Jose.

This year, Forbes only used growth data for 2003 through 2006, which boosted the major cities a bit.

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