NerdWallet.com announced the results of a study today that concluded Austin is the eighth best city for recent grads.
In a blog post, NerdWallet marketing strategist Sreekar Jasthi explained his team’s methodology, which considered the unemployment rates, cost of living and education levels of 100 U.S. cities.
Austin stood out for its 3.8 percent job growth rate, one of the highest among large metro areas, according to the Austin Chamber of Commerce.
The NerdWallet analysis found that Austin’s 3.1 percent unemployment rate in December 2015 was lower than the other cities in the top 10, and well below the national average of 5 percent for the same month.
Madison, Wisconsin, and Minneapolis, Minnesota had the same low unemployment rate, which was weighted at 20 percent of the NerdWallet score.
The study also weighed median earnings of residents 25 years and older with a bachelor’s degree (10 percent of total score) and rent as a percentage of income, where Austin landed in the middle at fifth highest.
Other findings included that Seattle’s tech industry is thriving, but crowded with educated residents. Nearly 59 percent of those over 25 have a bachelor’s degree or higher, compared with 48 percent of Austin residents.
NerdWallet is based in San Francisco.
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