Amazing how, whenever data are presented which are either better or worse than expected, the immediacy in that additional questions quickly arise.
Last week I discussed where job growth had been the best and least since the trough of the recession in February 2010. (Thank you David Tandy of Gracy Title in Austin for that great suggestion for a blog topic.) The data specifically examined where most of the jobs had been created since that trough. To read that blog click http://blog.stewart.com/stewart/2014/03/27/where-job-growth-has-taken-place/
So where (which states) are jobs growing the most? To answer that question requires several other questions.
- What time period do you wish to cover? 12 months? 24 months? 36 months? 48 months?
- What’s more important, job growth in the past 12 months or past multiple years (in which current job growth may not be at all representative of the long-run trends of respective markets)?
- Are we talking total number of jobs (where the more populated states have a leg-up) or percentages (which levels the playing field for all states regardless of the population)?
I am pretty certain since the prior blog posting, each of these questions have been asked at least twice. So here goes an effort to address these and other questions.
The following table details all states on both the number of jobs and percentage of jobs created in the prior 12, 24, 36 and 48 months.
The following table lists the total actual jobs (in thousands of jobs) added in the prior 12, 24, 36 and 48 months for the top-10 states. They are ranked on the number of new jobs added in the past 12-months. That said, California, Texas, Florida, New York and Colorado are the five best performing job growth states in the past 12 months based on the total number of net new jobs.
So which states had the greatest percentage growth in jobs? The top five included three of the top five states based on total numbers of job growth: California, Texas and Colorado, as shown in the following table.
Some of the markets are just not large, but they are growing towards the top of the market. Location-Location-Location.
Does this help answer the questions? If not, just email back.