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West, South Region Metros Continue to Lead for Job Creation

West, South Region Metros Continue to Lead for Job Creation

U.S. employers added nearly 2.5 million jobs in the year-ending July 2016, growing the nation’s employment base 1.7%, according to the Bureau of Labor Statistics. That growth was in line with the pace seen throughout much of the recovery.

Among U.S. metropolitan areas, New York once again was the leader, adding 170,000 jobs, on net, during the year-ending July 2016. Several of the usual suspects like Dallas, Los Angeles, Seattle and Atlanta also made the top 10.

Multifamily rental housing data

Perhaps the most noteworthy metro among the top 10 was Washington, DC. The capitol metro claimed the #2 spot after hiring picked up to a 16-year high, as Washington, DC gained 94,800 jobs in the year-ending July 2016. The resurgence was driven by unusually strong growth in the local and state government subsectors. However, most employment sectors saw improved job growth numbers in the past years.

Also surprising was the strong performance in Philadelphia, whose 65,700 jobs gained were the seventh most among U.S. metros in the past year. Hiring in Philadelphia was concentrated in the Professional/Business Services sector. The Trade/Transportation/Utilities sector also saw a notable pickup in job creation.

In terms of percentage growth, the top 10 was also heavy on West and South region metros.

Multifamily rental housing statistics

Fort Lauderdale experienced the greatest annual change, at 4.6%. Growth in that South Florida was generally widespread among employment sectors.
Three other Florida metros made the top 10. They are Orlando, Fort Myers/Naples and Jacksonville.

Economies in the Texas metros of Austin and Dallas also remain hot, growing employment in both 3.9% in the past year.

Meanwhile, Tucson continues along a late-cycle recovery, with employment expansion of 4.2% – a rate that ranked #2 nationally.

Reno continues to benefit from initiatives to diversify its economy, which grew the metro’s employment base 3.9% in the year-ending July 2016. The metro counts among its diversification efforts the recent addition of several big-name employers and a burgeoning startup community.

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