What’s going on:
Nashville, Tennessee is officially the top job market of the year, according to The Wall Street Journal‘s annual rankings. Austin, Texas and Jacksonville, Florida took second and third place respectively.
The five factors taken into account were 2022 wages, active workforces, unemployment rates, employment level changes, and labor force size.
Why it matters:
Aspiring career-starters are flocking to the job market boom in Southern cities boasting thriving service sectors, affordable living costs and energetic music scenes.
But despite the lower cost of living compared to other major cities, the increase in workers has caused a surge in housing prices in Nashville, namely.
Despite major tech companies in Austin having conducted some large layoffs, there are still plenty of opportunities for those seeking employment, including in the tech industry.
How it’ll impact the future:
According to the report, New York City came in 54th out of 56 cities with over 1 million population; Los Angeles was 49th, Philadelphia 41st, and Chicago 25th.
If the report reveals anything about the ever-changing preferences of American workers, it’s that the costlier coastal cities are becoming less sought-after, while hotter, more inland cities in the south are gaining favor.
