When it comes to a healthy, vibrant city, there are a handful of indicators you need to look toward. One of the most critical points of concern is always the job rate. Can current residents find quality work, and are there enough jobs to bring in new professionals? The city of Memphis is acing this indicator, as, according to Bloomberg, it is one of the fastest-growing job markets in the entire country.

The Memphis Economy

So just how well is the job market in Memphis doing? According to Bloomberg, Memphis, Las Vegas and Sacramento are the top three large metro areas in the entire country regarding job growth. To come up with the information, Bloomberg looked at the 10-year employment rate of each city to measure not only growth, but continued potential. Memphis jobs grew faster than any other large city in the United States.

Over the past decade, the city has seen nearly a 1.4 percent increase in the number of jobs available within the metro area. The number may not sound significant, but when compared to the overall number of jobs within the metro area, this 1.4 percent represents the addition of thousands of quality jobs, right in this singular metropolitan area.

Comparing Memphis With Similar-Sized Cities

So how did Memphis compare with other cities of a similar metro size? During this same time period, New Orleans saw a job growth rate of just over 0.8 percent, while St. Louis saw a growth of around 0.79 percent. Raleigh, North Carolina, saw a decrease in jobs by nearly 0.7 percent, and Minneapolis-St. Paul saw just about 1.20 percent fewer jobs over the decade.

Great News for Current and Future Residents

The increase of thousands of additional jobs is great news for both current and future residents. This represents a healthy economy. A healthy economy means more money that is pumped back into the city through locally purchased goods and taxes. It also helps attract additional companies.

Success often attracts additional success. When other companies looking for a new landing spot see the success of a city and similar businesses, CEOs and founders of the companies want to take part. When looking at Memphis, they see a city with a vibrant market and a number of highly-skilled professionals. It is in an excellent location for distribution around the country, and it’s substantially more affordable than other markets in cities such as New York, Chicago or Los Angeles.

The Continued Growth of Memphis

Memphis jobs continue to increase, so whether you are currently looking for work or you’re considering a move to Memphis, this isn’t anything but fantastic news. The blooming Memphis economy also means more restaurants and forms of entertainment will come to town, which helps improve the overall quality of living in the city as well.

Additional Reading

We Are Memphis

Greater Memphis Chamber

Bloomberg Jobs Article

You Might Also Be Interested In…

 

Tips to Market Your Memphis Business on Social Media

Your customers are on social media. You already know this, which is why you know using social media is necessary to connect with your target audience. But how do you best take advantage of what social media has to offer? You can’t just toss up whatever onto your accounts and expect your […]

 

Love throwing axes? Is that even a question?

Axe throwing is a pastime that has taken the country by storm. Throughout the United States, new locations are opening up where you can throw axes at a target in what is similar to a gun range, only with axes. If you haven’t given axe throwing a try, you owe it to yourself to give […]

 

Facts about Memphis you did not know about!

Memphis is a city steeped in history. It’s also a city steeped in fun facts. You might be amazed by some of these interesting factoids and bits of information. Maybe you know some of these facts, but there’s a good chance you don’t know them all. So whether you’re from […]