Understanding how job markets have performed during economic uncertainty can help companies considering expansion or relocation make site location decisions.
CBRE compared total nonfarm job growth from December 2022 and December 2024 to find metros with the fastest overall growth and those experiencing the most significant acceleration in job creation. The company said that this data can help companies identify regions with robust labor markets, potentially indicating a thriving economy, a deep talent pool, and favorable conditions for business growth.
To illustrate the difference between total growth rate and momentum, CBRE highlighted the New Orleans market, which saw employment levels drop 0.6% from December 2022 to December 2023 vs. 1.1% growth between December 2023 and December 2024, representing a +1.7 point momentum shift. On the other hand, Charleston led job growth from 2022 to 2023 at 4.7% but only saw a 2.8% gain during the 2023 to 2024 period, representing a momentum shift of -1.9.
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