Business 2.0 says its "boom town" ranking is the first of its kind to measure cities by their capacity to create high-wage jobs. The rankings were formulated in collaboration with econometric research firm Global Insight.

Here's the list:

1. Raleigh-Durham, NC
2. San Jose, CA
3. Washington, DC
4. Austin, TX
5. Atlanta, GA
6. West Palm Beach, FL
7. San Francisco-Oakland, CA
8. Middlesex-Somerset, NJ
9. Seattle, WA
10. Boston, MA
11. Sacramento, CA
12. Phoenix, AZ
13. Minneapolis, MN
14. Denver, CO
15. New Haven-Stamford, CT
16. Baltimore, MD
17. San Diego, CA
18. Dallas, TX
19. Charlotte, NC
20. Philadelphia, PA

For each market, Business 2.0 projects overall job growth by 2008. It also lists three "hot professions" in each city, and names companies that are currently hiring.

To create the ratings, 61 metropolitan areas with populations over 1 million were ranked using a weighted formula that includes forecast growth rates in sectors that contain the economy's 10 most skilled occupational clusters, the prevalence of college degrees in the local workforce, and median salary. Close attention was also paid to the percentage of the labor force made up of highly skilled and educated creative-class workers.

"With the job market still tight, accomplished job seekers across the country want to know where to find the strongest employment opportunitiesones that fit their expert skill sets. This list provides the definitive information they're looking for," said Josh Quittner, editor of Business 2.0.

In the article, Business 2.0 also names 10 fast-growing markets with populations under 1 million. These markets include (in order):

1. Boulder, CO
2. Fort Collins, CO
3. Santa Fe, NM
4. Charlottesville, VA
5. Boise, ID
6. Colorado Springs, CO
7. Gainesville, FL
8. Trenton, NJ
9. Tallahassee, FL
10. Olympia, WA.