In the United States, where is the best place to find a job? For many people, the first places that come to mind are New York or San Francisco. However, a recent report released by the ADP Research Institute suggests that looking for a job outside these two coastal cities may yield better results.
The labor market in the United States has been gradually slowing down. Economists say that it has become increasingly challenging for workers to find jobs. While the labor market remains solid, if the current trend continues, it could pose difficulties for job seekers.
According to a quarterly survey by ZipRecruiter, job seekers’ confidence hit a two-year low in the second quarter of 2024. This decline indicates a more pessimistic outlook among workers regarding their prospects of landing their desired jobs. The ADP report provides the latest information for job seekers to understand the popular employment markets in the United States.
According to the new report by ADP, Denver, Colorado has been ranked as the hottest job market in the United States.
CNBC reported that Ben Hanowell, the Director of Research Analysis at ADP Institute, stated that in the top-ranking cities, Denver excels in industries such as financial services, healthcare, and manufacturing, which are considered recession-resistant industries.
He added that in other cities like Portland and Seattle, one or two standout industries are creating a significant number of job opportunities. In the past year, there has been a continued strong demand for talent in the education and healthcare sectors.
“Big cities do not always guarantee more job opportunities,” Hanowell said. “Even as we see a slowdown in national employment and wage growth, these smaller markets can offer strong prospects for job seekers.”
ADP Institute ranked cities that are most suitable for job seekers based on indicators such as wage growth, starting salaries for new employees, and employment rates, focusing on metropolitan areas with a population of at least one million.
In addition to tracking salaries, ADP Institute identifies up to 1.2 million new employees each month and tracks their starting hourly wages from July 2023 to June 2024.
Here are the top five cities best suited for job seekers as compiled by ADP Institute:
1. Denver, Colorado
2. Oklahoma City, Oklahoma
3. Las Vegas, Nevada
4. Seattle, Washington
5. Portland, Oregon
For Denver, which topped the list, the median annual salary in the city has grown by 5.8% over the past 12 months. The median hourly wage for new employees is $19, with a monthly hiring rate of 4.5%. The labor market in Denver, particularly strong in construction, professional and business services, and other services.
For Oklahoma City in second place, the median annual salary in the city has increased by 5.6% over the past 12 months. The median hourly wage for new employees is $15.70, with a monthly hiring rate of 5.4%.