Two-Thirds of Top Metros Report Fewer Job Gains in November

Posted by Admin December 27, 2024 Jobs

Spread the love

A significant portion of top markets saw fewer job gains during the past 12 months when compared to the year-ago period. An analysis by RealPage found that this was the case with two-thirds of its top 150 markets, while the metro divisions of New York and Los Angeles saw significant improvement in annual job gain totals in November.

The New York-White Plains metro division gained 107,300 jobs for the 12 months ending in November, leading the nation in jobs added based on the Bureau of Labor Statistics’ monthly report. That was 32,000 more jobs than the metro added for the year ending in November 2023. The Los Angeles-Long Beach-Glendale market topped its total from last year by 64,700 jobs to a total of 46,200 jobs gained through November to rank third on RealPage’s job creation leaderboard for November.

The Houston metro area landed in second place with an increase of 62,500 jobs. Dallas and Phoenix rounded out the top five, adding 43,200 and 42,900 jobs respectively.

Overall, the top 10 markets for annual job gains totaled 464,100 new jobs, which is 11,400 fewer than last year for the same ten markets. The list remained largely the same from October to November, with Atlanta dropping off the list and Riverside joining. Washington, D.C., Charlotte and Indianapolis were almost unchanged from their reported employment levels last November, said RealPage.

Markets 11-20 on RealPage’s ranking had total job gains of 224,100, a 1.9% increase.

A dozen of the top 150 markets reported annual job losses for the year, an improvement by one market from last month. Major markets reporting annual job losses include Minneapolis-St. Paul, Chicago and Milwaukee, said RealPage. The Boeing settlement returned Seattle to positive job gains for the period.

Smaller markets tend to dominate the top markets for annual percentage change in employment, RealPage said. In a tie for the top spot in job growth for November were Boise and Stockton with job growth of 4.3%. Richmond, Virginia; Charleston, South Carolina; and College Station, Texas, rounded out the top five markets for annual percentage job growth.

Indianapolis and Richmond are the largest markets on the top growth list, along with mid-sized markets Tulsa, Omaha and Charleston. Only five of last month’s top employment growth markets returned to the list in November, said RealPage. Other major markets with job growth rates of 2% or higher included Charlotte, San Antonio, Oklahoma City, Salt Lake City and Raleigh/Durham.

Markets with declining employment through November included Sioux Falls, South Dakota; Des Moines, Iowa; Akron, Ohio; Asheville, North Carolina; Columbus, Ohio; Kalamazoo/Battle Creek, Michigan; Youngstown, Ohio; and Myrtle Beach, South Carolina.