America currently has an odd mix between unemployment and people quitting their jobs. The Bureau of Labor Statistics reports that the jobless rate shrank to 3.9% in December 2021, as the economy added 199,000 jobs. While job growth is relatively strong nationwide, Boise City, Idaho, has the fastest job growth in America.
However, 4.5 million people quit or changed their jobs in November, according to the BLS. This number, which does not include retirements, is extraordinarily high.
One theory about why people have left jobs in such high numbers is that government payments to supplement incomes have allowed people to stay out of work for longer than usual. Another theory is that people who had very low-paying jobs believe that wages will rise quickly over the next several months as the jobs market tightens. (These are the lowest paying jobs in America.)
When it comes to job growth, location is often a factor. Americans have become more mobile in the past year. People who live in expensive coastal cities like New York and San Francisco have moved inland to find more affordable places to live. This trend has been boosted by the fact that the COVID-19 pandemic has made it easier to work from home, perhaps permanently. Some of these smaller cities have ballooned in population because of this unusual migration.
To find the city with the fastest (and slowest) job growth in America, 24/7 Wall St. reviewed the State of the Labor Market report from Indeed Hiring Lab, which produces research on global labor market topics. According to the report, which tracked U.S. jobs postings through Jan. 7, 2022, “US job postings on Indeed.com on January 7 were 61.9% above February 1, 2020, the pre-pandemic baseline.”
Indeed Hiring Lab economist AnnElizabeth Konkel looked at employment growth by job sector and location. By occupational sector, human resources postings rose 128.2%, followed by software development at 115.6% and logistic support at 108.7%. The sector that lagged the most was beauty & wellness, with growth of 1.5%.
Based on job postings by city, Boise City topped the list with a 94.8% growth. Because of an influx of people coming to the city, home prices there have risen 30% in the past year, well above the national average. (Find out if Boise is the city where people are making the most money selling homes.)
The rush of people to Boise is not new. Census Bureau data shows that its population increased by 24.03% between 2010 and 2020, which makes it one of the fastest-growing cities in America.
Meanwhile, the city with the slowest jobs growth is Honolulu, with a job growth since February 2020 of 32.9%
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