Have you ever moved to a new city because of a job? A study preformed on 3,500 respondents provided data to find out who has relocated, why they relocated, demographics of those who have moved, and other statistics. Interestingly, the largest percentage of those who had relocated (50.3%) had done so for career advancement or financial reasons.
People are flocking to cities where jobs are plentiful and the wages are high. A report from Magnify Money states: “(Those) who live in the metros may be at risk for accruing more debt and less wealth over their lifetimes, thanks to opportunity losses. Those who move to cities may find that they’re better equipped to pay down debt and gain assets at a faster rate as they gain toeholds in more lucrative job paths.”
So what are the biggest Boomtowns for jobs? Top ten include San Francisco, Denver, Austin, Nashville, San Jose, Raleigh, Portland, Seattle, Oklahoma City, and Dallas. It is no mystery as to why these cities are alluring. Each has an increase in labor force, an increase in median wages, and a decrease in unemployment. A great example of this is Portland.
Oregon’s unemployment rate dropped to 3.8% in August, the lowest number on record since 1976. The low unemployment rate and a high demand for employees could translate into higher wages for workers and therefore a challenging environment for employers. Senior economic analyst Gail Krumenauer summed it up simply “People can expect to earn more. If nothing else, the minimum wage is higher than it was a year ago. There’s also this competition aspect (between businesses) that’s happening.” If you are looking for some extra cash, there is no shortage of opportunities. Check out these businesses hiring in Oregon.
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