Two Midwest Cities Join Top Markets for Job Growth
Overall job gains across the top 10 were down 13.7% from last month.
St. Louis and Indianapolis have joined the nation’s top 10 markets for annual job gains in September, representing the Midwest on a list that includes two Northeast region markets, three Southern markets and three Western markets.
Overall job gains across the top 10 were down 13.7% from last month as the employment market continues to slow, according to RealPage’s September metro employment update. Eight of August’s top 10 returned to the list in September.
The New York-White Plains metro division continued to lead the nation in employment gains, with 106,700 new jobs over the past 12 months. It was the only market that exceeded 100,000 jobs gained for the year. However, its September total was down about 49,000 from August’s 12-month total gain.
Houston maintained the second spot on the list, growing by 75,100 jobs through September, but down 7,700 jobs from August and 28,000 jobs from last year. Dallas regained the third spot with an annual gain of 60,400 jobs, an improvement of almost 19,000 jobs from August.
Los Angeles and Phoenix rounded out the top five with 60,300 new jobs and 43,500 new jobs, respectively. Atlanta, Philadelphia, Indianapolis, Riverside and St. Louis followed. The next 10 markets saw their combined annual job gains remain virtually unchanged, said RealPage.
Three markets gained between 50,000 and 99,999 jobs, which was one less region than last month. Meanwhile, 11 of RealPage’s top 150 markets reported annual job losses for the year, including Minneapolis-St. Paul, Milwaukee, Memphis and Portland, Oregon.
The annual percentage of change in employment also slowed during September, with six of the top 10 markets decreasing their employment growth rates from August.
Stockton-Lodi, California, and Boise, Idaho, tied for the top growth rate spot with a 4.2% employment change, but that is 50 basis points less than last month’s top market, Champaign-Urbana, Illinois, at 4.7% in August. Both markets were up 40 to 60 bps from their change rates last month, said RealPage.
Charleston slipped a spot to third with 3.6% job growth, down 70 bps from last month. Indianapolis joined the list at fourth with 3.1% employment growth, up 50 bps from August. Naples, Florida, and College Station, Texas, tied for fifth in September at a 2.9% job change.
The top 10 employment growth markets continue to reflect areas with concentrations in tourism, state capitals and major universities, the report said.