The Economic Perspective: “The Best and Worst Job Markets”

This is Mary Walden with economist MW, welcoming you to the economic perspective.  Today’s program looks at the best and worst job markets.  Mike, recently the Wall Street Journal published a study ranking job markets in the top 53 metropolitan areas with more than 1 million people.  What went into their rankings, what areas were at the top and at the bottom, and how did North Carolina do?

 

Mike:  Summary Answer

  1. Composite ranking based on five factors: unemployment rate, job growth, labor force growth, wage growth, and labor force participation
  2. Top five areas were Austin, San Jose, Salt Lake City, Boston, and Orlando
  3. Bottom five areas were Rochester NY, Buffalo, Detroit, Cleveland, and NYC
  4. Raleigh ranked #6, and was particularly good for job and wage growth
  5. Charlotte ranked # 17 and was good on labor force participation and job growth
  6. Do notice the geographic difference – poor performers in the north, and best performers were in the south and west, with exception of Boston
  7. I’m MW

 

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics