Memphis, Sacramento, Vegas See Accelerating Job Growth Pace
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 |
Baltimore-Columbia-Towson, MD | 11.0 | 7.5 | 1.4 |
Birmingham-Hoover, AL | 5.0 | 5.9 | 1.5 |
Boston-Cambridge-Nashua, MA-NH NECTA | 12.8 | 8.0 | 0.5 |
Buffalo-Cheektowaga-Niagara Falls, NY | 4.4 | 3.1 | 0.4 |
Charlotte-Concord-Gastonia, NC-SC | 24.2 | 16.3 | 2.6 |
Chicago-Naperville-Elgin, IL-IN-WI | 8.8 | 7.3 | 1.6 |
Cincinnati, OH-KY-IN | 10.5 | 9.2 | 1.8 |
Cleveland-Elyria, OH | 4.4 | 4.2 | 1.0 |
Columbus, OH | 18.0 | 10.7 | 1.4 |
Dallas-Fort Worth-Arlington, TX | 25.3 | 16.3 | 2.8 |
Denver-Aurora-Lakewood, CO | 23.5 | 14.7 | 1.8 |
Detroit-Warren-Dearborn, MI | 14.7 | 8.8 | 1.0 |
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 |
Indianapolis-Carmel-Anderson, IN | 15.8 | 9.8 | 0.8 |
Jacksonville, FL | 19.3 | 16.2 | 1.1 |
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 |
Memphis, TN-MS-AR | 6.4 | 7.4 | 2.2 |
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 |
Nashville-Davidson--Murfreesboro--Franklin, TN | 34.2 | 20.2 | 3.9 |
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 |
Orlando-Kissimmee-Sanford, FL | 29.4 | 21.8 | 3.9 |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 7.2 | 7.4 | 1.1 |
Phoenix-Mesa-Scottsdale, AZ | 20.1 | 16.8 | 3.1 |
Pittsburgh, PA | 4.9 | 2.9 | 0.7 |
Portland-Vancouver-Hillsboro, OR-WA | 20.0 | 14.0 | 2.2 |
Providence-Warwick, RI-MA NECTA | 7.8 | 5.8 | 1.0 |
Raleigh, NC | 25.0 | 15.7 | 1.7 |
Richmond, VA | 11.9 | 8.8 | 1.4 |
Riverside-San Bernardino-Ontario, CA | 25.8 | 19.9 | 1.8 |
Rochester, NY | 4.7 | 3.6 | 0.6 |
Sacramento--Roseville--Arden-Arcade, CA | 15.5 | 15.4 | 2.9 |
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 |
Seattle-Tacoma-Bellevue, WA | 19.8 | 14.8 | 2.5 |
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 |
Washington-Arlington-Alexandria, DC-VA-MD-WV | 10.9 | 7.7 | 1.0 |
To contact the reporters on this story: Alex Tanzi in Washington at atanzi@bloomberg.net;Wei Lu in New York at wlu30@bloomberg.net
To contact the editors responsible for this story: Kristy Scheuble at kmckeaney@bloomberg.net, Chris Middleton
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