Amid information of high-profile layoffs, the nationwide unemployment charge is definitely comparatively low. In accordance with the U.S. Bureau of Labor Statistics, it was simply 3.4% in January 2023, a charge similar to unemployment earlier than the beginning of the pandemic. It is nonetheless a job seekers’ market, which can encourage some to take the monetary danger to maneuver to a brand new state or metropolis.

Utilizing information from the U.S. Bureau of Labor Statistics and the U.S. Division of Housing and City Improvement, MoneyGeek explored 95 metropolitan areas with labor forces of no less than 300,000 to seek out one of the best and worst locations for job seekers within the U.S. in 2023. We analyzed 5 key financial elements to find out our rating: wage and job development, unemployment charge, labor drive dimension and housing affordability. Along with rating one of the best and worst cities total, MoneyGeek ranked one of the best and worst cities for every of the important thing financial elements measured. This is what we discovered.

KEY FINDINGS:
Jacksonville, Florida, is one of the best metropolis for job seekers. The town skilled the best job development amongst all cities analyzed, with a low unemployment charge and wage development triple the nationwide common.

The worst metropolis for job seekers is Akron, Ohio — stagnant job development and declines in common wages put this metropolis on the backside of our rating.

6 of the 10 greatest cities for job seekers are in Florida: excessive job and wage development make these cities fascinating for job seekers.

Provo, Utah, is one of the best metropolis for Gen Z job seekers — there, this era makes up 16.4% of the inhabitants, job development is excessive and competitors is low.

Palm Bay, Florida, had the best wage development of all cities analyzed at 6.3%, contributing to its rating because the No.7 greatest metropolis for job seekers total.

The Finest (and Worst) Cities for Job Seekers within the US
MoneyGeek analyzed 95 of the biggest cities in the US to seek out one of the best and worst locations for job seekers in 2023. We checked out every group’s development in employment over the past 12 months and for the earlier three years, development in hourly wages during the last 12 months, present unemployment charge, present labor drive dimension and common month-to-month wage over month-to-month hire ratio to find out our rankings. An important elements — together with development in employment over the past 12 months and three years and development in hourly wages — have been double-weighted (22%), whereas the opposite elements every contributed 11%.

Finest Cities for Job Seekers within the US
One of the best cities for job seekers have spectacular job and wage development, low job competitors and inexpensive housing costs; in different phrases, they supply stable employment alternatives and low-cost dwelling.

Finest Cities for Gen Z Job Seekers
Among the many greatest cities for job seekers, we discovered that a number of the high cities for jobs, livable wages and alternative additionally had a higher-than-average focus of Gen Z residents. Of the cities we analyzed, Gen Zers constituted 9.1% of the inhabitants, on common. Beneath are the 5 cities ranked within the 20 greatest cities that even have an above-average Gen Z inhabitants; these may very well be glorious locations for younger individuals new to the job market to seek out alternative and group.