Mid-Sized Cities are The Engines of America’s Job Recovery

Sign up for insightful business news.

The Big Apple? Rotten to the core. The City of Angels? Its wings are clipped. The Windy City? All out of bluster. The DMV? Living there is like standing in line at one.

Okay, maybe that’s overdoing it. But new data does show that America’s big coastal cities are taking a back seat to their mid-sized, flyover counterparts, at least when it comes to leading America’s job recovery.

Utahkin’ to Me?

Half of US metro areas are on track to reclaim pre-pandemic employment levels by the end of the year, according to a new Economic Innovation Group report. That’s a pretty remarkable achievement considering everything that happened in the last 24 months.

But leading the charge are cities in Texas and Utah, which have already surpassed their 2019 job levels, while America’s biggest metro areas are lingering well behind them:

  • Employment has grown 4.1% in Austin, Texas since December 2019, the most among America’s 50 largest metro areas. Salt Lake City earned second place with 3.1% growth, followed by Dallas, Tampa, Phoenix, Jacksonville, and Raleigh, North Carolina.
  • New Orleans is the worst-performing metro area, with employment shrinking by 8.4%, and in second place was America’s largest city, New York, with a 7.1% decrease in employment. The country’s tech capital, San Francisco, was fourth-worst with a 5.8% decrease in employment, while Los Angeles was tenth-worst with 5.2%.

Strong Before the Storm: “The primary reason why these metros are leading the recovery is that they were seeing very robust job growth in the two years prior to the pandemic,” wrote August Benzow, an analyst at EIG. “The pandemic itself was just a bump in the road. It didn’t knock them off their strong trajectories.”

Investing in the Gateway Cities to the American Dream

Demand destruction is a fallacy. Demand hasn’t evaporated, it has simply transformed.
Read More
Deep Dives more

El Niño Ravages Land and Sea, Slamming Markets

(Photo by Raymond Kotewicz via Unsplash)

The FTC Starts Probe of Exxon’s Pioneer Acquisition

Recent News

China’s Financial Woes Grow as Moody’s Lowers Credit Outlook

Consultancy Firms Are Using AI to Fast-Track Partnerships

Roche Elbows into Weight-Loss Drug Market Via M&A

Florida Developers Still See Building Wooden Homes as a Good Idea