January 19, 2009

10 Cities for Growth Opportunity in 2009

If your job search strategy includes opportunities outside your local area check out this list of cities projecting job growth in 2009.

No. 1: Madison, Wis.

Unemployment rate: 3.5%

Madison has several things working in its favor, one being the University of Wisconsin, a major employer. The university's technology arm, the Wisconsin Alumni Research Foundation, supports scientific research at the school and helps drive breakthroughs in health care, biotechnology and medical devices, resulting in strong local businesses in all those fields. Adding to the city's optimistic job outlook is its highly educated workforce and the fact that it's the center of state and county governments--both big employers (city government is a big one too). Add to that an ideal mix of start-ups and medium and large businesses, and you have a city that is not reliant on one main employer.

No. 2: Washington, D.C.

Unemployment rate: 4.2%

That's a rise from 3.2% in October 2007, but still it remains well below the national average. The largest job growth has been in federal and local government. Other major employers include defense contracting, law and education. There are so many schools and colleges that education is the third largest employer, and the area is expected to add 30,000 more education jobs in 2009.

No. 3: Boston, Mass.

Unemployment rate: 4.4%

Boston's unemployment rate has risen almost a full percentage point since October 2007, when it was 3.5%, but things continue to look good on the job front there. All those colleges keep on employing thousands of area residents, and the many hospitals and research institutions make for a strong showing in health care. Not everyone who works at those institutions is a physician or researcher either--finance staff, managers and all kinds of back-office workers are always needed. With so many educated men and women wanting to stick around after graduating, Boston has become a hub for the tech and pharmaceutical industries. The city lost just 900 financial sector jobs in the past year--far fewer than other, harder hit places.

No. 4: Richmond, Va.

Unemployment rate: 4.4%

A year ago, Richmond's unemployment rate was 3.1%. But at 4.4% currently, it's still well below the national average. One reason is its healthy mix of industries and business sizes. The area doesn't rely on one or two huge companies to employ most of its residents. Public accounting, manufacturing and service remain strong fields, and with the nation's capital just three hours away, there are plenty of jobs in government contracting and defense. The military bases in the area contribute to a strong showing in government-related jobs.

No. 5: Milwaukee, Wis.

Unemployment rate: 4.8%

Milwaukee's unemployment rate is barely changed from a year ago, when it was 4.7%. The aging population has helped health care jobs multiply; they've grown by almost 30,000 in the past 12 months. Many health care, energy and environmental companies that were based in Chicago have been moving to Milwaukee for its cheaper expenses. The city is only about an hour from Chicago by train.

No. 6: Pittsburgh, Pa.

Unemployment rate: 5%

This city's unemployment rate has climbed in the past year from 3.9%, with much of that job loss in manufacturing. However, it continues to have several strong industries, particularly education, health care and government. The University of Pittsburgh Medical Center is the city's largest employer, with 40,000 workers. Banking, technology and education also continue to keep the economy and job market lively.

No. 7: Baltimore, Md.

Unemployment rate: 5.1%

Though unemployment in Baltimore jumped from 3.6% the previous year, the jobs in education, professional services and business services have grown. The city's close proximity to Washington, D.C., means there are many government contractors around and many commuters who live in Baltimore but work in the nation's capital.

No. 8: Seattle, Wash.

Unemployment rate: 5.3%

Unemployment here increased from 3.7% in October 2007, but certain sectors have stayed quite strong, including biotech and health care. The area has a large elderly population and several Veterans Administration hospitals that employ considerable numbers. You'll do best looking for a job in Seattle if you're trained in the knowledge economy; the city has very few blue-collar positions to offer.

No. 9: Houston, Texas

Unemployment rate: 5.4%

The unemployment rate has risen from 4% in the past year. However, government jobs, particularly in oil, gas and other types of energy, continue to be strong. The city added 11,100 government jobs just in the last year.

10. Dallas, Texas

Unemployment rate: 5.6%

Dallas enjoys job growth very much like Houston's, concentrated in government positions related to energy. The city also has growing technology and information technology industries that are providing work, and it's home to many companies handling government contracts.

Source: Forbes.com



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