The 2020 USA job market is poised to continue its unprecedented growth. According to the U.S. Department of Commerce Bureau of Economic Analysis, the nation’s economic performance continues to perform strongly. The USA’s Gross Domestic Product (GDP) rose in the 4th Quarter of 2019 by 2.1%. Economists continue to forecast a future economic outlook of steady growth. This continuation of economic growth without negative impacts appears to be a “Goldilocks Economy.” Features of such an economy include:
- Growth is not too hot to cause inflation
- Growth is not too cold to create a recession
- The ideal growth rate of 2-3% is in effect
The 2020 USA Job Market Benefits Cities Poised as Technology and Innovation Centers
2020 will see several job market trends impacting cities. Some of these trends include adoption of advanced technology, increasing global connectivity, and a workforce that continues to rise in average age. Cities that are positioned as technological innovation centers should gain significantly as corporations grow and their employee workforce expands.
Some forecasters predict that Artificial Intelligence (AI) will negatively impact jobs. PricewaterhouseCoopers published a report identifying several professions that may see significant impacts from AI, robotics, and similar technologies, including:
- Bank Positions
- Factory Jobs
- Financial Services
- Office Staff
However, all of these advanced technologies in turn create new employment opportunities. Employees who are comfortable with technology and rapid change should anticipate many new challenges and paths for future career growth.
What Characteristics do the Top 10 Cities in the 2020 USA Job Market Share?
The top 10 cities in the 2020 USA job market share several characteristics. Many of these cities exhibit several of the following traits:
- Business-friendly policies and incentives
- Pleasant climate and moderate weather
- Access to a wealth of amenities
- Significant job growth
- Highly educated and skilled local workforce
- Centers for technological innovation
- Close to other centers of employment
What are the Top 10 Cities in the 2020 USA Job Market?
According to WalletHub (the first website to offer free credit scores, reports, and additional financial information for consumers), the top 10 Cities in the 2020 USA Job Market are:
- Scottsdale, AZ
- South Burlington, VT
- San Francisco, CA
- Austin, TX
- Fremont, CA
- Chandler, AZ
- Boston, MA
- Tempe, AZ
- Portland, ME
- Boise, ID
Several cities from the 2019 ranking fell out of the top 10 ranking. These cities are:
- Columbia, MD
- Orlando, FL
- Colorado Springs, CO
- Plano, TX
- Washington, DC
Conversely, several cities rose into the top 10 ranking. These cities are:
- South Burlington, VT
- Austin, TX
- Fremont, CA
- Tempe, AZ
- Boise, ID
Scottsdale, Arizona and the 2020 USA Job Market
Scottsdale is the top city in the 2020 USA job market. This is the 2nd year in a row that Scottsdale has achieved the top spot in this ranking. In fact, two other Arizona cities are also in the top 10: Chandler is #6 (up from #10 in 2019), and Tempe is #8 (up from #14 in 2019).
WalletHub notes two significant factors that are driving Arizona cities to the top 10 ranking:
- Employment Growth
- Large Share of Engaged Workers
South Burlington, Vermont and the 2020 USA Job Market
South Burlington, VT rose to the #2 spot in 2020, from its #11 spot in 2019. Part of this rise is attributable to Vermont resident’s own migration patterns. Many Vermonters are relocating from remote locations to this metropolitan area.
Vermont as a whole is a small state, and South Burlington has an estimated population of over 19,000 residents. By comparison, Scottsdale has an estimated population of over 255,000 residents. Maricopa County in Arizona (where Scottsdale is located) added over 80,000 residents in 2018.
The University of Vermont’s location in Burlington helps draw residents to the city. Up to a third of Burlington’s residents are in their 20’s. As a result, this makes the city’s population much younger than the rest of the state. Residents are drawn to Burlington for quick and easy access to a wide range of urban amenities, such as:
- Educational Opportunities
- Fine Arts
- Health Resources
- Public Transportation
What Does This Mean?
Job seekers in the 2020 USA job market should look at several Arizona cities as top places to find a job. Most of the job opportunities in Arizona are in the Phoenix metropolitan area. The leading job sectors in this area include:
- Education and Health Services
- Professional and Business Services
Several other cities in the USA are also great places to find a job. Job seekers have a wide variety of locations to consider when looking for a job, from Idaho to Vermont, and from Texas to Massachusetts. Employees looking for jobs should consider looking into the cities that rank high as a best place to find a job.
What Should Employers in the 2020 USA Job Market do?
Employers currently in a city that ranks as a best place to find a job should examine their hiring needs and identify candidates using pre-hire assessments. They should work with a qualified Relocation Management Company (RMC) that can provide a full range of pre-decision services.
Employers may consider relocating new hires or transferees to fill positions in these vibrant cities. They should provide transferees and their family members with as many valuable resources as possible to help increase relocation success.
GMS’ team of domestic relocation experts has helped thousands of our clients understand how to fill positions in the 2020 USA job market. Our team can help your company understand how to use pre-hire assessments to identify qualified candidates. Also, we can help your company design a relocation program following industry best practices that results in higher relocation success rates and greater transferee and family member satisfaction.
GMS was the first relocation company to register as a .com, created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.
Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.
Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to discuss your company’s need to fill 2020 USA job market positions, or give us a call at 800.617.1904 or 480.922.0700 today.
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