work it out
Hardworking San Antonio clocks in among the top U.S. labor markets, report says
San Antonio is working hard to prove its worth as a robust employment center.
A new report from Dallas-based ThinkWhy, a producer of talent intelligence software, ranks the Alamo City as the No. 24 top-performing labor market in the country.
Dallas-Fort Worth was listed as the No. 1 metro labor market, and ThinkWhy’s LaborIQ Market Index puts Austin at No. 3 and Houston at No. 8.
The most recent index is based on 10 key economic indicators from September for 150 metro areas.
The San Antonio-New Braunfels market ticks the boxes for a top-performing metro area in terms of net migration and working age population growth, though it falls short in other metrics, like the number of college degree holders, job gains, job growth, and wage growth. Still, the index notes that since the market is in the top 25, it is relatively strong compared with other major U.S. metros.
“All four of Texas’ major metros — which rank among the largest in the country — are expected to remain top-performing metros for an extended period. Due to the sheer size of these labor markets, their recovery will significantly impact the national economy,” ThinkWhy says.
In August, Austin became one of the three largest metros — along with Salt Lake City and Phoenix — to recover all jobs lost to the pandemic, according to ThinkWhy. DFW and San Antonio are set to join those ranks in 2022, with Houston expected to fully recover lost jobs in 2023.
“Retention of talent will be a major risk for businesses the remainder of this year,” Jay Denton, chief labor market analyst at ThinkWhy, says in a news release. “With a record number of job openings, businesses are trying different methods to retain and attract employees, and compensation has been a critical part of that equation.”