It looks as though our nation is finally beginning to pull out of the recession, and the falling unemployment rate is one major indicator. However, the unemployment rating itself is just one of the factors that indicates how much job availability is improving in a city.
This list of the top nine cities for job growth bases the rankings on more than just the present-day unemployment rate. Job growth in these cities is calculated by factoring the current unemployment rate, the change in unemployment over the past year, and the percentage of companies that will be hiring versus those firing (also known as the Job Creation Index).
9. San Jose-Sunnyvale-Santa Clara, CA
| Job Creation Index | Unemployment Rate (Jan '12) | Change in Unemployment (Jan '11-Jan'12) |
| 20 | 9.1% | -15.7% |
The unemployment rate in this region is still high compared with the rest of the country, but it's seen a huge improvement since the beginning of the recession. Roughly 36% of people believed that their company was hiring.
8. San Antonio, TX
| Job Creation Index | Unemployment Rate (Jan '12) | Change in Unemployment (Jan '11-Jan '12) | 20 | 7.3% | -6.4% |
San Antonio had 38% say they believe their company is hiring, one of the highest of the cities surveyed in a Gallup poll. By the end of the year, the city should recover all of the jobs lost during the recession plus some.
7. Houston-Sugar Land-Baytown, TX
| Job Creation Index | Unemployment Rate (Jan '12) | Change in Unemployment (Jan '11-Jan '12) |
| 20 | 7.6% | -12.6% |
Houston lost the smallest percentage of jobs in the recession and will likely recover all of them by the end of the year. The city has a very low unemployment rate compared with the rest of the nation.
6. Atlanta-Sandy Springs-Marietta, GA
| Job Creation Index | Unemployment Rate (Jan '12) | Change in Unemployment (Jan '11-Jan '12) |
| 20 | 9.2% | -10.7% |
Atlanta is having slow recovery of the jobs lost in the region during the recession. By the end of the year, only approximately 20% of the jobs lost will be regained. Yet the region also showed promising job index scores, determined by the number of people who believe their company is hiring versus the people who believe their company will be letting people go.
5. Orlando-Kissimmee, FL
| Job Creation Index | Unemployment Rate (Jan '12) | Change in Unemployment (Jan '11-Jan '12) |
| 21 | 9.5% | -15.2% |
Orlando has had a big improvement in unemployment levels since the recession despite the still-high percentage. It posted a promising job index rating, and 37% of people believe their company is hiring.
4. Nashville-Davidson-Murfreesboro-Franklin, TN
| Job Creation Index | Unemployment Rate (Jan '12) | Change in Unemployment (Jan '11-Jan '12) |
| 22 | 7.2% | -18.2% |
The city of country music and its surrounding region has a promisingly low unemployment rate It will recover most of the jobs lost by the end of 2012 and has had amazing improvements in job recovery with a high change in unemployment.
3. Richmond, VA
| Job Creation Index | Unemployment Rate (Jan '12) | Change in Unemployment (Jan '11-Jan '12) |
| 22 | 6.6% | -13.2% |
Richmond, Virginia residents have confidence in their area's economy. 36% of people surveyed believe their company will be hiring in the next year, and the area has a very low unemployment rate compared with the national average. And to think that just a few months ago, Richmond was listed in the top 10 cities hurt by the recession
2. Pittsburgh, PA
| Job Creation Index | Unemployment Rate (Jan '12) | Change in Unemployment (Jan '11-Jan '12) |
| 22 | 7.6% | -6.2% |
Pittsburgh shows promise over the next year, likely recovering all jobs lost in the recession and with an unemployment rate below the national average. 37% believe their company is hiring.
1. Oklahoma City, OK
| Job Creation Index | Unemployment Rate (Jan '12) | Change in Unemployment (Jan '11-Jan '12) |
| 25 | 5.9% | -3.3% |
Oklahoma city posts the lowest unemployment rate of the cities mentioned. The city will recover all its jobs lost in the recession by the end of this year, and 37% of people believe their company is hiring. Against that, only 12% believe their company will be letting people go.
The nation is showing promise as economies continue to recover and present job growth, though there's still a ways to go, with a national unemployment average of 8.3%. Still, it's much lower than the 9.1% posted last summer. And we can't forget that natural gas boom that's led to job growth in other cities, such as Fargo, North Dakota. In November, Fargo had an unemployment rate of just 3.1%. And Lincoln, Nebraska followed close behind with 3.2%. States in the Midwest have shown promise with their falling unemployment rates too.
*Figures from 24/7 Wall Street
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