Where are the jobs? Recent study ranks top cities
foxbusiness.comHR and payroll company ADP ranked cities across the country. The rankings were based on three things that make a strong labor market: annual pay growth, new hire wages, and the hiring rate.
HR and payroll company ADP ranked cities across the country based on three things that make a strong labor market: annual pay growth, new hire wages and the hiring rate.
The study, published in August of this year, surveyed 55 U.S. metros with populations of at least 1 million, according to ADP.
Top cities in the study included Denver, Oklahoma City, Las Vegas, Seattle and Portland, Oregon.
Cities ranked the lowest included Providence, Rhode Island, Tampa, Florida, Baltimore, Salt Lake City and Cleveland.
JOBS REPORT IS A BOOM FOR MIGRANTS, SLUMP FOR AMERICANS
Industries can play a major role in a metro's economy, economists say. (Kennedy Hayes/ FOX Business)
Julia Pollak is the chief economist at Zip Recruiter. Pollack says if your industry or career is not growing or hiring, it could be because too many people are staying put.
«People are saying it has gone from the great resignation to the big stay, or the great stay. With companies hiring fewer workers, but also firing fewer workers than was normal before the pandemic and people switching jobs less frequently,» Pollak said. «If you have a job you like, you have unprecedented job security. But if you don't have a job or if you are stuck in a job you don't like, you have fewer prospects,» Pollak said.
FED'S TIMING IS PERFECT TO START CUTTING RATES: CHRIS LOW
Pollack said if moving or changing industries isn't an option for you, the good news is the labor market may accelerate soon.
The Federal Reserve has signaled they will likely start cutting rates on September 18th, which
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