The Perryman Texas Top Ten ranks the state's Metropolitan Statistical Areas (MSAs) according to projected economic growth by both economic indicator and industry sector. MSAs are ranked by their projected compound annual growth rate (CAGR), which expresses growth over multiple years as an annual rate that reflects changes in the size of the base. While the biggest MSAs may show larger absolute growth for a given indicator, industry, and time period, the use of CAGRs allows us to determine which MSAs are growing fastest.
The Texas Top Ten is reported for two of the key indicators used to analyze economic growth:
-
Wage & Salary Employment: The measure of the number of persons in the workforce excluding proprietors, but including agricultural workers and military personnel.
-
Real Gross Product: The final value of all goods and services produced in an economy during a given period of time, adjusted for inflation. Also known as output.
For each indicator, the Texas Top Ten is also broken down by industry sector according to the North American Industry Classification System (NAICS).
Source: The US Multi-Regional Econometric Model, The Perryman Group