AUSTIN - The Austin economy led the entire nation in percentage growth of gross metro product in 2013 and is expected to stay on top through 2020, according to an economic analysis released by the U.S. Conference of Mayors.
Austin led the nation's cities in 2013 with a gross metro product growth — the sum of all goods and services produced annually in a city — of 4.6 percent.
The city is expected to hold onto the No. 1 ranking though 2020, with an average annual gross metro product growth of 4.4 percent from between 2013 and 2020.
The Austin area's hot economy has seen its unadjusted employment rate recently plummet to less than 4 percent, highlighting a powerful demand for labor in the area.
Other top-performing cities for average gross metro product growth for 2013 through 2020 were Raleigh, North Carolina, at 4.3 percent, Houston at 4.0 percent and Phoenix at 4.0 percent.
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