Top 5 U.S cities for Economic Growth in 2016
Over the last year, the United States of America has definitely faced some ups and downs. Some cities however, have really only seen the ups. By taking America’s 100 most populated cities, Forbes.com compiled a list of the cities with the most growth based on estimated population growth, job growth, gross metro product growth, and median annual pay for college-educated workers in each area. Without further ado, here are America’s fastest growing cities of 2016:
- Salt Lake City, Utah
Projected 2016 growth rate: 1.40%
Job growth rate: 3.57%
2015 Gross Metro Product growth: 6.93%
Median pay: $63,600
At 3.33%, Salt Lake City has one of the lowest unemployment rates in the country, a great statistic for those who are weary of their position in the job market. Salt Lake City is also a great location for avid skiers and snowboarders, or really anyone who enjoys the cool winter season.
- Seattle, Washington
Projected 2016 growth rate: 1.34%
Job growth rate: 3.32%
2015 Gross Metro Product growth: 3.66%
Median pay: $73,700
Despite the constant rainfall that seems to be coming down in Seattle, the city is filled with stunning mountainous views and various different social hubs. Major corporations such as Amazon, Microsoft, and Boeing are located in Seattle, creating great job markets for the cities inhabitants.
- Dallas, Texas
Projected 2016 growth rate: 1.58%
Job growth rate: 3.86%
2015 Gross Metro Product growth: 2.52%
Median pay: $69,300
Dallas is a cultural hub of the south, being home to one of the largest state fairs in the country. Dallas is also home to some of the wealthiest people and companies in the country, so millionaire hopefuls could find themselves at home here.
- San Francisco, California
Projected 2016 growth rate: 0.77%
Job growth rate: 4.49%
2015 Gross Metro Product growth: 4.21%
Median pay: $89,100
With a median pay of $89,000, it’s no wonder people are attracted to San Francisco. With the draw of the city’s beautiful rolling hills and the golden gate bridge, along with the hope of a high paying job, San Francisco can be seen as paradise for some.
- Austin, Texas
Projected 2016 growth rate: 1.56%
Job growth rate: 3.28%
2015 Gross Metro Product growth: 3.22%
Median pay: $66,000
Austin has been a hot spot lately due to its flourishing technology, pharmaceutical and biotech industries, low living costs, and it’s overall attractiveness as a city. People from all over are flocking to Austin for new job opportunities, booming nightlife, and beautiful scenery.
The American west coast and southwest have seen a great year, fully stocked with new job opportunities, new citizens, and new amenities. While the east coast is lacking a little, there’s always hope for next year. Until then, anyone looking to relocate must check out these popular cities! After all, they’re growing for a reason so they must be worth the time to look.