2012 Top 20 US Cities for Economic Vitality - Austin, TX is #2

Austin near top of U.S. on new economic index Austin Business Journal Austin ranks No. 2 out of the country's 102 largest cities on a new economic index ranking. That's according to the October 2012 version of the On Numbers Economic Index released Monday. On Numbers is the research division of American City Business Journals. The index measures the relative economic vitality of all 102 U.S. metropolitan areas that have more than 500,000 residents. It is updated on the second Monday of each month. The index is generated by an 18-part formula that assesses private-sector job growth, unemployment, earnings, housing-price appreciation, and construction and retail activity. Oklahoma City took the top spot. Tulsa, Okla. is ranked No. 3, followed by Houston and Omaha, Neb. Here's the listing for the top 20 cities. Texas Cities are in Bold. Oklahoma City 91.14 Austin 86.69 Tulsa 80.50 Houston 77.08 Omaha 76.66 Denver 76.59 Columbus 74.68 Boston 74.48 Pittsburgh 74.28 San Antonio 73.34 Little Rock, Ark. 70.22 Durham, N.C. 69.09 Cincinnati 68.76 Dallas-Fort Worth 68.25 Louisville 68.17 Charleston, S.C. 68.10 Ogden, Utah 67.95 San Jose 66.14 Salt Lake City 63.72 Portland, Maine 63.27 FORMULA COMPONENTS: These are the 18 components of the formula for the Index: 1. Five-year change in private-sector employment. 2. One-year change in private-sector employment. 3. Long-term trend in private-sector employment. 4. Five-year change in unemployment rates. 5. Current unemployment rate. 6. Long-term trend in unemployment rates. 7. Five-year change in weekly earnings per private-sector worker. 8. One-year change in weekly earnings per private-sector worker. 9. Long-term trend in weekly earnings per private-sector worker. 10. Five-year change in construction-sector employment. 11. One-year change in construction-sector employment. 12. Long-term trend in construction-sector employment. 13. Five-year change in retail-sector employment. 14. One-year change in retail-sector employment. 15. Long-term trend in retail-sector employment. 16. Five-year change in house values. (House values are updated quarterly. All other factors are updated monthly.) 17. One-year change in house values. 18. Long-term trend in house values.