The median household income in Raleigh has decreased 6.3 percent since 2007, but other economic factors were strong enough to help the city rank No. 9 among the top “U.S. Regions to Watch in 2014” by Forbesmagazine.
From 2007 through 2012, the region’s gross domestic product increased nearly 9 percent and job growth ticked up nearly 3 percent from 2007 through October of 2013.
Over a similar period, population growth increased by 15 percent, but that doesn’t mean that only one of every five people who have come here in the past half decade found employment. For one, the population growth counts all newcomers – children and retired adults alike – and the population figure could include those who live in Raleigh but work in Research Triangle Park, for example, which are left out of the job growth category.
As is common in many of these kinds of rankings, cities in Texas, particularly Austin and Houston, rank very high. With a job growth of nearly 12 percent, Austin ranked as Forbes‘ No. 1 Region to Watch. San Antonio was second with a job growth rate of 6.2 percent, and Houston was fourth with job growth of 9.2 percent.