The US job market fluctuates from State to State. The difference is slight in some cases, but it is pretty dramatic in others. So, if you are looking for better job opportunities in 2024, it is worth researching the best locations for that. In this article, you’ll find a list of the best States regarding labor statistics, housing costs, and job openings.
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Overall, the US labor force market returns to pre-pandemic numbers. The adult employment rate is currently at 60.5%, which is still 0.6% lower than before COVID-19. Yet, many industries are expected to recover in the following years. The unemployment rate had returned to pre-pandemic times already, which is an excellent change for the better. The industries that had the most significant job growth in 2023 are:
As for wage growth, in the private sector, it grew by 3.4% in 2023. The US job market may slow down in this regard in 2024. And the number of job openings decreased compared to the beginning of 2022. The most dramatic decline in job openings happened in software development, information design and documentation, mathematics, human resources, media and communications, banking and finance, marketing, and industrial engineering. When it comes to the trends job seekers can expect for 2024, the most important are:
A variety of factors influence labor force participation and opportunities in the US. The most prominent ones are:
The rating of the best states for job seekers is based on several factors. Those are:
So, what are the best states to consider relocating to in 2024? Let’s go over them one by one.
Texas has a population of 30 million, with 40.6% of its citizens being college-educated. It has a strong economy and a steady job market. According to the US Bureau of Labor Statistics, the number of all the jobs here increased by 3% in 2023 (407,100), one of the best rates in the US. The job growth includes such industries as home health aid and personal care, renewable energy, healthcare, and therapy. However, it is worth noting that Texas has the 47th inequality in the country, which is a downside.
Utah’s job growth for 2023 is 2.1% (35,400), which is significant. The State is in the first place when it comes to economy and financial stability. The population here is smaller – 3.4 million. Over 46% of adult citizens have a college education. Utah ranks among the top five states for infrastructure and education. The most booming industries in terms of growing labor force are healthcare, leisure and hospitality, and construction. The unemployment rate for Utah in 2023 is 2.8, lower than the national average.
South Dakota ranks high for job growth and fiscal stability. The number of residents of the State is about 900,000 people. The rate for job growth in 2023 is 2.5% (11,400). And the unemployment rate is 2%, which makes South Dakota one of the best states for most job opportunities. It is one of the most affordable states (in 8th place overall). Although the median annual income of an average household is slightly lower than the US average, the low cost of living and housing makes up for it. As for open positions and the most booming industries, South Dakota offers opportunities in wind turbine services, healthcare (nursing and physician assistance), physical and occupational therapy, and IT & software development. The State also has one of the top-ten lowest-income taxes.
In Idaho, the job growth for 2023 was 3.1% (26,100). The State is also on top regarding fiscal stability and a strong economy. The populace is about 2 million, and more than 40% of adults have college degrees. The labor force participation is high, although the unemployment rate is 3.3%. Idaho is most known for agriculture and mining. But other industries are increasing jobs here, too, namely the information sector, construction trades, healthcare, warehousing, and transportation.
Arizona is also among the best states for labor force participation and jobs. The percentage of new jobs for 2023 here was 1.8% (54,800). It has a strong economy and a steady supply of natural resources. It leads the nation in copper production, silver, zeolites, and crude perlite. There is an influx of new residents, influencing the labor force participation and booming industries. The most job opportunities are in healthcare, construction, leisure and hospitality, financial activities, professional business services, and manufacturing.
Professionals can expect new jobs in Montana as well. It is currently in the 6th place in the US for economy. There are over a million citizens, with more than 40% graduating from college. The unemployment rate is 3%. The income tax is 6.9%, among the ten lowest in the United States. Employment opportunities arise in healthcare, food services, accommodation, technical services, and construction. The climate is known for warm summers and cold winters.
The unemployment rate for Florida is 2.9% for the same year. At the same time, it is in the first place for education and has a stable economy. With 22 million citizens, Florida offers a variety of jobs to all kinds of professionals. However, living costs here are slightly higher than in other states. The majority of new jobs are in the healthcare industry.
Besides the best states mentioned above there are decent job market opportunities in
These states have low unemployment rate percentages and offer various advantages for workers. Residents also enjoy the excellent infrastructure and job security. If you are looking for jobs in the best states, it might not be easy to choose. Consider some of the vital aspects of making such a decision, namely:
Look into the best cities within those states. Imagine what living there might be like or read some comments online. Moving through the country is a big decision, so you need to evaluate all the components. After all, it is not only about labor force participation but also about finding a good environment that suits your needs and interests. Some people enjoy a more dynamic lifestyle and want to live in a big city. Others prefer solitude and slow living. Do not discredit your preferences when choosing a location.
Let’s say you’ve set your mind on one of the best states, whether it is South Dakota or Idaho. The location is excellent, and it is time to find employment opportunities. Here are some of the best tips on approaching the job market strategically.
Some states offer more job market opportunities; it is just how it goes. If you want to relocate for better employment or environment, consider what each State offers. Hopefully, now you have crucial information that will make this choice easier.