For the second year in a row, Austin, Texas, tops The Wall Street Journal's ranking of the hottest labor markets in metropolitan areas with more than 1 million people, followed by Nashville, Tenn., and Denver.
The rankings are based on an assessment of U.S. metro areas' unemployment rate, labor-force participation rate, job growth, labor-force growth and wage growth.
Austin ranks highly across all of these criteria: The burgeoning tech hub not only has low unemployment and high wage growth, but is also the site of a new $1 billion corporate campus for Apple, according to WSJ. The campus is expected to host up to 15,000 employees; the company already has about 7,000 workers in Austin.
Nashville, which jumped to the second slot this year from its No. 7 position in 2019, is also a tech magnet. Amazon is currently building a corporate campus of its own that will draw about 5,000 new hires to the Tennessee capital.
Here are the top 10 hottest job markets in U.S. metro areas with populations of at least 1 million:
1. Austin, Texas
2. Nashville, Tenn.
3. Denver
4. Seattle
4. San Francisco
4. Salt Lake City
7. Raleigh, N.C.
8. Orlando, Fla.
9. Dallas
10. San Jose, Calif.
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