Jobs are everything to the economy and to the ultimate demand for housing and commercial real estate. I vividly recall the father of one of my undergraduate students when at Texas A&M that was concerned about the impact of his daughter’s first job ultimately on her entire employment career. As too many entering the workforce since 2009 have found, that first job, or lack-thereof, potentially impacted their life-long earnings and ultimate wealth accumulation. Getting a job in a high growth market improves the odds for economic success over time.
Where best for job-seekers in 2017 to find good employment in an affordable environment? To answer this, NerdWallet analyzed employment-related data in the largest 100 U.S. cities.
Metrics utilized to ascertain the best affordable cities for 2017 job seekers included:
- October 2016 unemployment rate – 33.33 percent of total score
- Percentage full-time employment growth 2010 – 2015 – 33.3 percent of total score
- Full-time median earnings aged 16 and up 2015 – 16.7 percent of total score
- Median monthly rent 2015 – 16.7 percent of total score
And the best destinations for job seekers in 2017 based on the analysis of NerdWallet?
NerdWallet researchers pointed out the following given these findings:
- Nine out-of-the-top-10 cities had a greater-than-average percentage of 20-somethings when compared to the national average
- Technology and medical industries were high-growth markets in many of the cities
- One-half of the top-10 were state capitals, markets that even in down times, perform relatively well
In addition to their analysis, also consider that most of these markets are home to a major college or university (or several), again markets that typically perform well despite the overall national economy.
To read the entire NerdWallet study and view the ranking of the largest 100 U.S. cities click https://www.nerdwallet.com/blog/finance/best-cities-job-seekers-2017/?trk=nw-wire_305_336332_25921
Just like the stock market, however, past performance does guaranty future results. Without question, other affordable cities than these top-10 will perform well in 2017.
Ted