The economy is always a hot topic and with job growth consistently teetering on the edge, it’s reassuring to see an upswing in that growth across the nation. But where are these career hotspots? Careerbuilder and their subsidiary Economic Modeling Specialists International (EMSI) recently released a powerful interactive map that pinpoints exactly where these cities are and what industries are driving their success. This study details these “driver industries” for 100 of the most populous metros in the United States based on 2013 jobs, specifying the workforce size, job growth since 2010 and the average earnings. Thus far, California is showing enormous economic promise with San Jose, San Francisco and San Luis Obispo making great strides. Should this make us feel hopeful? If you’re in a handful of booming sectors, then the answer is a resounding yes. Software and Technology, Data Processing, E-Shopping and Scientific Research are just a few of the industries that are boosting the California economy. Take a look at the numbers and get a sense of the latest findings.
With a population of 1,844,043, the Silicon Valley is still the center of technology and the economic growth in this region is proof of that fact. Since 2010, San Jose-Sunnyvale have added more than 90,000 jobs since 2010 with Computer Systems Design and Data Processing, Semiconductor and Other Electronic Component Manufacturing and Computer and Peripheral Equipment Manufacturing generating the most growth. Other industries making a mark in the area include Software Publishing, Electronic Shopping and Mail-Order Houses and Scientific Research and Development Services. Average earnings per job hover at $106,486.
The San Francisco metro area is flourishing, thanks in large part to the technology sector. Between 2010 and 2013, there has been a 40% change in the Computer Systems Design industry, with 82,478 jobs reported this year alone. Other industries that are thriving included Management, Scientific and Technical Consulting Services (with 53,114 jobs reported this year), Management of Companies and Enterprises (50,574 jobs) and Scientific Research and Development Services (with 37,498 new jobs). Average earnings per job in 2013 are $85,152 (with Computer Systems Design jobs average earnings at $268,695 per year).
Moving towards Southern California is Bakersfield, a region world’s away from the urban tech boom, but showing great growth in more rural sectors. Crop Production has seen a 14% change since 2010 with 19,081 jobs, Utility Systems Construction saw a 128% change with 7,372 jobs in 2013 and Oil and Gas Extraction had a 36% change with 3,363 jobs this year. Average earnings in the Bakersfield region are at approximately $50,609 with Oil and Gas Extraction earnings soaring well over the average at $140,362.
With this upswing in job growth, it’s no surprise that two of these areas also made it onto Forbes magazine’s list of Best Places for Business and Careers. San Francisco is listed at #21 (with a job growth rank of 36) and San Jose is listed at #41 (with a job growth rank of 60). If a move is in your future, you might consider looking in and around these three areas…especially if you’re in the tech sector.
Do career opportunities influence your home buying decisions? Let us know in the comments section below.