Nashville - The Best Job Markets Aren’t in the Biggest Cities, WSJ

 

Greater Nashville boasts the second-strongest job market in the nation, according to an analysis from The Wall Street Journal (article below) and Moody's Analytics. And, from my vantage point as advisor in the residential housing market, the employment figures support the ongoing sustainability of property appreciation.

The hottest job markets in America are in five different states, but they have a lot in common. They’re in midsize cities, all with a population under 2.3 million. They’re in states with fairly low income taxes, or none at all. And their climates allow for outdoor activities all year round. 

This is the fourth year that The Wall Street Journal and Moody's have done this kind of number-crunching. It is the latest evidence of the region's rebound from the Covid-19 pandemic, having now regained the number of jobs lost during the brief recession as the virus spread worldwide.

The assessment ranked metro areas by five factors, using 2021 data:

  • unemployment rate

  • labor force participation rate

  • job growth

  • labor force growth

  • wage growth

Of note, average weekly wages rose 6.1% in the Nashville metro area compared to 2020, tying the region with Los Angeles for the ninth-fastest increase.

"The strong labor demand is good for workers," The Wall Street Journal writes, "but challenging employers to find staff in an array of sectors."

https://www.wsj.com/articles/best-cities-job-market-2022-11650639572?st=jiznrsqi3ihm1kp&reflink=desktopwebshare_permalink


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