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Metro Areas(MSA) with a Population of 1 Million+ by Non-Farm Job Growth from Seotember 2014 through September 2019
+716,800 New York +7.78%
+527,600 Los Angeles +9.25%
+508,700 Dallas +15.38%
+331,400 San Francisco +15.20%
+331,300 Atlanta +13.14%
+318,300 Phoenix +17.15%
+299,700 Miami +12.33%
+275,100 Chicago +6.05%
+273,900 Seattle +14.79%
+244,400 Riverside +18.89%
+230,000 Orlando +20.65%
+227,400 Washington DC +7.30%
+214,300 Houston +7.24%
+199,500 Boston +7.63%
+193,800 Philadelphia +6.95%
+169,600 Tampa +13.99%
+169,100 Denver +12.40%
+168,100 San Diego +12.48%
+167,200 Charlotte +15.59%
+165,100 Austin +17.79%
+147,200 Las Vegas +16.48%
+145,100 San Jose +14.30%
+140,100 Portland +12.92%
+133,900 Nashville +15.01%
+133,500 Detroit +7.01%
+127,300 Sacramento +14.27%
+126,800 San Antonio +13.20%
+109,900 Minneapolis +5.76%
+98,800 Salt Lake City +15.02%
+98,400 Jacksonville +15.75%
+94,500 Columbus +9.21%
+92,500 Kansas City +9.00%
+90,700 Cincinnati +8.61%
+86,500 Raleigh +15.31%
+88,200 St Louis +6.63%
+87,500 Indianapolis +8.72%
+83,200 Baltimore +6.15%
+50,700 Fresno +16.02%
+49,200 Grand Rapids +9.50%
+45,100 Cleveland +4.33%
I'm kinda surprised there's not a stronger correlation with how wealthy a metro area is. San Antonio, Fresno, and Las Vegas are handily outperforming NYC, DC, and Boston in job growth.
The correlation with population growth seems to be stronger (though still not one-to-one). I guess that makes sense --- the fact that an area is adding jobs doesn't mean they're good jobs, but it does probably mean some people will move there to take them.
I'm kinda surprised there's not a stronger correlation with how wealthy a metro area is. San Antonio, Fresno, and Las Vegas are handily outperforming NYC, DC, and Boston in job growth.
The correlation with population growth seems to be stronger (though still not one-to-one). I guess that makes sense --- the fact that an area is adding jobs doesn't mean they're good jobs, but it does probably mean some people will move there to take them.
Yep which is why it’s also important to distinguish what kind of jobs are growing fastest. These numbers are still important but don’t always give the full story.
Historically places like Las Vegas have had a higher concentration of tourism and hospitality jobs which tend to be low paying while areas like NYC, Boston and DC have a higher concentration of business and professional services jobs (lawyers, accounting, marketing, etc) those are the jobs that are most important to an economy because they tend to be the highest paying.
I'm kinda surprised there's not a stronger correlation with how wealthy a metro area is. San Antonio, Fresno, and Las Vegas are handily outperforming NYC, DC, and Boston in job growth.
The correlation with population growth seems to be stronger (though still not one-to-one). I guess that makes sense --- the fact that an area is adding jobs doesn't mean they're good jobs, but it does probably mean some people will move there to take them.
The reason many have a hard time understanding is most STILL don't understand that "wealth" isn't just high average annual income. It gives a very false impression as to how the average citizen lives. Buying Power (average annual income VS. cost of living) is the most accurate means of measuring. NYC, DC, and Boston have horrible Buying Power. $80k/per year in Charlotte or Atlanta will get you WAY more than in NYC or Boston. You can live better on less. Too, job growth as a percentage of a job market is the truest measure of strength, not raw numbers. So these stats are on point in terms of how economics works in the real world.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
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+1...and not all wealth is income related, either.
Quote:
Originally Posted by march2
The reason many have a hard time understanding is most STILL don't understand that "wealth" isn't just high average annual income. It gives a very false impression as to how the average citizen lives. Buying Power (average annual income VS. cost of living) is the most accurate means of measuring. NYC, DC, and Boston have horrible Buying Power. $80k/per year in Charlotte or Atlanta will get you WAY more than in NYC or Boston. You can live better on less. Too, job growth as a percentage of a job market is the truest measure of strength, not raw numbers. So these stats are on point in terms of how economics works in the real world.
Orlando clearly has a very high number of tourist/retirement industry jobs, jobs with below average annual salaries. But, they do have a strong healthcare sector and are slowly, but surely, diversifying their economy with more white collar jobs. They're definitely heading the in the right direction.
Las Vegas is also tourist heavy, but isn't nearly as strong as Orlando in diversification of its economy.
Fresno's employment is going to be more agriculture and service jobs, low paying.
Austin, Phoenix, and Riverside are going to have to keep a close eye on their costs of living and Buying Power Index if they want these numbers to stay this high over the long term.
No surprised by this list at all. I work with stats like this regularly in my research. Most metros on this top 10 will continue to do very well for the foreseeable future (as will most of the 11-20 metros), mostly due to their balance of incredible Buying Power, lower tax burden than average, business friendly culture, and strength in quality of life factors. Balance is the key. That balance is what attracts new jobs and sustains that growth. Thanks for posting!
Orlando clearly has a very high number of tourist/retirement industry jobs, jobs with below average annual salaries. But, they do have a strong healthcare sector and are slowly, but surely, diversifying their economy with more white collar jobs. They're definitely heading the in the right direction.
Las Vegas is also tourist heavy, but isn't nearly as strong as Orlando in diversification of its economy.
Fresno's employment is going to be more agriculture and service jobs, low paying.
Austin, Phoenix, and Riverside are going to have to keep a close eye on their costs of living and Buying Power Index if they want these numbers to stay this high over the long term.
No surprised by this list at all. I work with stats like this regularly in my research. Most metros on this top 10 will continue to do very well for the foreseeable future (as will most of the 11-20 metros), mostly due to their balance of incredible Buying Power, lower tax burden than average, business friendly culture, and strength in quality of life factors. Balance is the key. That balance is what attracts new jobs and sustains that growth. Thanks for posting!
Jacksonville showing some really strong growth! That's great to see. Austin continues the surge, as do both the red hot Carolina cities of Charlotte & Raleigh.
What's behind the Fresno boost?
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