Not everyone has the luxury of changing cities when they’re looking for a new job; families, different property valuations, and the sheer cost of moving can make switching living locations complex. But if you’re looking to change cities anyway, these are some of the best places to find work this year, and if you run your own business, you might study these cities to see what they’re doing right in terms of generating jobs.
Plano, Texas: Wallethub
According to economics website Wallethub, the best city for jobs in 2016 is Plano, Texas. Plano is located about twenty miles northeast of Dallas and is home to a bunch of different corporate headquarters. To make their list, Wallethub looked at factors like Job Opportunities – how many jobs were openly divided by the number of unemployed residents – as well as considerations like the Median Annual Income. The site also used data gathered from its own internal rankings of social and family benefits in the different cities studied.
Bethesda, Maryland: Forbes
Forbes went a different route, looking at data provided by temporary hiring firm Adecco to determine which city was hiring the most workers. Bethesda took home the crown on their page, with the top hiring industries being in hospitality, construction, and healthcare. Specifically, employers are looking for specialty trade contractors, those with expertise in accounting and bookkeeping, and workers in the food service and hospitality industries. Forbes also reported a 5.2% unemployment rate for Bethesda, implying that those living there are able to find work when they need it.
Bethesda is located just north of the nation’s capital of Washington, D.C., meaning that many of the jobs in the area may be tied in to federal locations. Bethesda is home to several major corporations in the private sector as well as many different federal branches of government.
Reno, Nevada: Kiplinger
Kiplinger decided to look at which states were most likely to see big increases in the numbers of jobs available, and then extrapolate which cities were most likely to see the biggest growth. Their pick of Reno, Nevada, is primarily based on two factors. First, the state is expected to see big job growth in 2016, with its unemployment rate dropping from 6.5% at the end of last year to around 6.1% in the end of 2016. Second, technology company Tesla is expected to build a $5-billion battery plant outside of Reno this year, which should bring in thousands of new jobs.
In general, the stronger economy should mean more people traveling to Reno to gamble, and more companies and organizations offering conventions, which will step up the economy in the region as well. Reno is located in the northern part of the state, around 36 miles from Lake Tahoe.
London, United Kingdom: Lifehack
If you’re willing to move not just outside of your current hometown, but outside of your country, to find the best job opportunities in the world, Lifehack suggests that you consider giving London in the United Kingdom a try. According to many experts, London is the #1 place in the world for city gateway, technology readiness, and economic clout. It has the most billionaires of any city worldwide, and has an economy that focuses on finance for international businesses. Many different professions can find the highest paying jobs in the world here.
What does this mean for your business?
If you’re running your own business, what does all of this mean? We can see a few different trends here. First of all, cities like Reno are winning by capitalizing on what they do best. Reno has been in the business of providing a good time for many years; as conventions and business travel become more popular again, the city stands to benefit. That was likely also a factor in Tesla locating their plant in the area.
Meanwhile, cities like Plano are benefiting from their proximity to major metropolitan areas like Dallas. In recent years, many metro areas have seen big expansions as people love to live close to cities without actually living in cities. Bringing some of the convenience and luxury of urban areas to suburban residents is always going to be big business.
Finally, Bethesda’s expectation of rapid growth shows us that the trends of increasing jobs in healthcare, food service, and skilled labor aren’t going to stop any time soon. If you’re considering starting a business and aren’t sure where to go next, these might be fields that would show a good return on your investment. Talking to your local chamber of commerce would give you a good idea of who already operates in these fields, and what gaps might need to be filled in.