Denver ranked No. 2 city for job seekers
If you’re looking for a new job to top off the New Year, the Denver metro-area is a good place to be. In fact, it is the second best city for job seekers in 2017 compared to the 100 largest cities in the U.S., according to analysis of federal data by NerdWallet. Analysts ranked cities based on weighted scoring of best job opportunities and affordability.
Denver earned the No. 2 spot despite the rising cost of housing in the metro-area. NerdWallet counted the cost of housing as 16.7 percent of overall score. The study showed the No. 1 best city for job seekers is Austin, Texas, followed by a top-ten lineup of Denver, Nashville, TN: Seattle, Durham, NC; Atlanta, Minneapolis, Lincoln, NE; Irving TX; and Raleigh, NC.
The chart below lists the data analyzed for the top ten cities.
Attributes of leading cities for jobs
The top ten cities shared key characteristics. All had lots of young working-age people, with nine of the 10 best cities for job seekers having higher than average percentages of 20-somethings, according to 2015 census data.
Specific industries are more prevalent in the top-rated cities. The fastest growing job hubs offered plenty of technology industries, such as software publishing, telecommunications and computer manufacturing. Health care and social assistance sectors are major industries in the high-scoring cities, too. Denver is noted for its robust aerospace industry, while Austin has thousands of information technology workers employed by Dell, IBM and Apple. Healthcare companies make a strong showing in Nashville – where 250 healthcare companies are headquartered – as well as Atlanta and Durham, NC. And half of the top 10 cities for job seekers are state capitals, boosting the presence of government job opportunities.
To rank the cities, NerdWallet analyzed unemployment rate, workforce growth, annual salary and housing cost. Analysts gave the most weight to October 2016 unemployment rates from the U.S. Bureau of Labor Statistics and the increase in the working-age population from 2010 to 2015 with the U.S. Census Bureau data. The analysis also includes census data for median earnings and median monthly rent in each city to provide a gauge of cost of living.
For the full story, visit nerdwallet.com/blog/finance/best-cities-job-seekers-2017.