Last Friday, my list of the 20 metros with the fastest-growing jobs was posted over at The Daily Beast. Jobs are the second-biggest issue facing the United States - second only to the economy, according to a recent Gallup poll - and a pending referendum on the Obama administration in the upcoming mid-term elections. As I noted:
The United States has lost an estimated 7.4 million jobs since the onset of the economic crisis. But, the economy is on track to create some 15.3 million new jobs looking out to 2018, according to projections done by the Bureau of Labor Statistics (BLS). And more than 50 million total jobs will come open, as older workers retire and many switch jobs and careers. Total U.S. employment is projected to grow by 10.1 percent over the period, according to the BLS forecast, considerably better than the 7.4 percent growth rate for previous decade (1998-2008), and roughly in line with population growth of 10.7 percent.
But where will the new jobs be located? Which places will grow the most jobs and, conversely, which will see the biggest job losses?
To get at this, my Martin Prosperity Institute (MPI) team applied the detailed employment projections of the BLS to U.S. metro regions. The BLS forecasts job trends across 22 major occupational groups which include more than 822 specific job categories for the decade 2008 through 2018. My MPI team used these BLS national forecasts to generate similar estimates for each of America's 392 metro regions. Essentially, we used the BLS overall estimations to predict job growth in each region based on its current mix of jobs.