Memphis, Sacramento, Vegas See Accelerating Job Growth Pace
(Bloomberg) -- Memphis, Sacramento and Las Vegas were the top three large U.S. metro areas in January for job creation compared to their average 10-year employment rate, according to a Bloomberg analysis of Bureau of Labor Statistics data.
Bloomberg found seven areas in the January data where annual employment growth exceeded the 10-year average annualized pace by greater than one percentage point.
Bloomberg used a pool of 51 metropolitan areas, with a 2010 Census population of one million or greater, to gauge employment gains over the last year, compared to the past decade. Eight areas are seeing a deceleration in job growth at a rate in excess of half a percentage point, while an additional 10 cities are experiencing a slowdown.
At the bottom of this list is Minneapolis, where the one-year percent change in job growth was zero in January. This is a substantially different from its 10-year annualized growth rate of 1.3 percent. Some areas known for their recent job growth, such as Boston, Austin and Raleigh also reported slower employment gains than their 10-year average rates of growth.
Large Metropolitan Area Percent Changes in Employment
|Metropolitan area||10 year||5 year||1 year|
|Atlanta-Sandy Springs-Roswell, GA||19.0||14.6||2.1|
|Austin-Round Rock, TX||38.0||19.6||2.6|
|Boston-Cambridge-Nashua, MA-NH NECTA||12.8||8.0||0.5|
|Buffalo-Cheektowaga-Niagara Falls, NY||4.4||3.1||0.4|
|Dallas-Fort Worth-Arlington, TX||25.3||16.3||2.8|
|Hartford-West Hartford-East Hartford, CT NECTA||3.9||4.0||1.1|
|Houston-The Woodlands-Sugar Land, TX||18.8||8.5||2.8|
|Kansas City, MO-KS||11.4||10.2||1.5|
|Las Vegas-Henderson-Paradise, NV||18.5||18.1||3.1|
|Los Angeles-Long Beach-Anaheim, CA||11.9||9.5||0.8|
|Louisville/Jefferson County, KY-IN||14.1||9.1||0.7|
|Miami-Fort Lauderdale-West Palm Beach, FL||19.7||13.7||2.2|
|Milwaukee-Waukesha-West Allis, WI||5.0||5.2||0.9|
|Minneapolis-St. Paul-Bloomington, MN-WI||12.2||7.4||0.0|
|New Orleans-Metairie, LA||9.2||4.9||1.8|
|New York-Newark-Jersey City, NY-NJ-PA||13.3||9.2||1.5|
|Oklahoma City, OK||11.2||5.8||0.9|
|Providence-Warwick, RI-MA NECTA||7.8||5.8||1.0|
|Riverside-San Bernardino-Ontario, CA||25.8||19.9||1.8|
|Salt Lake City, UT||23.1||14.3||2.4|
|San Antonio-New Braunfels, TX||25.8||14.8||2.5|
|San Diego-Carlsbad, CA||16.8||12.7||1.5|
|San Francisco-Oakland-Hayward, CA||22.7||16.0||2.6|
|San Jose-Sunnyvale-Santa Clara, CA||25.8||15.0||2.6|
|St. Louis, MO-IL||6.2||7.1||1.4|
|Tampa-St. Petersburg-Clearwater, FL||18.6||14.3||1.4|
|Virginia Beach-Norfolk-Newport News, VA-NC||5.2||4.5||0.4|
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