2016’s Best & Worst Cities To Start A Career by John S Kiernan, WalletHub
The struggles endured in recent years by America’s young people pale in comparison to those suffered by their peers in Spain and Greece, where nearly half of all young people are jobless. Still, finding employment in the U.S. — let alone laying the foundation for a long and prosperous career — is far from simple.
But there’s reason for optimism among the Class of 2016 and the scores of young people so disillusioned with the job market that they’ve given up their search for employment. Not only do more employers plan to hire recent college grads in 2016, according to the National Association of Colleges and Employers, but hiring in general is also on the rise.
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Increased hiring obviously doesn’t guarantee employment, though. Young people still must learn how to maximize their marketability. In addition to customizing cover letters and making social media accounts safe for work, that could very well entail relocation. After all, employment opportunities vary significantly based on simple geography.
So, in order to help recent college graduates find the best cradles for their burgeoning careers, WalletHub’s analysts compared the 150 largest U.S. cities. We used 17 key metrics to determine the relative strength of their job markets as well as the attractiveness of their social scenes and other factors important to job-market entrants. A complete breakdown of our findings, a detailed methodology and expert financial-management tips for young people can be found below.
Best & Worst Cities To Start A Career
With graduation ceremonies commencing and employers planning to hire 11 percent more college grads in 2016 than in 2015, the personal-finance website WalletHub conducted an in-depth analysis of 2016’s Best & Worst Cities to Start a Career.
To help newly grads launch their careers in the right place, WalletHub’s analysts compared the relative strength of the 150 largest markets in the U.S. We did so using 17 key metrics such as number of entry-level jobs, median starting salary and housing affordability.
Comparing the Best & Worst:
- Houston has the highest monthly median starting salary (adjusted for cost of living), $3,705, which is nearly three times higher than in Honolulu, the city with the lowest, $1,332.
- Gilbert, Ariz., has the highest median annual household income (adjusted for cost of living), $84,969, which is more than three times higher than in Cleveland the city with the lowest, $25,869.
- Oxnard, Calif., has the highest workforce diversity, which is slightly more than two times higher than in Durham, N.C., the city with the lowest.
- Austin, Texas, has the lowest unemployment rate, 2.8 percent, which is four times lower than in Fresno, Calif., the city with the highest, 11.4 percent.
- Jersey City, N.J., has the highest percentage of the population aged 25 to 34, 22.5 percent, which is slightly more than two times higher than in Cape Coral, Fla., the city with the lowest, 10.3 percent.
- Irvine, Calif., has the highest percentage of the population with at least a bachelor’s degree, 65.6 percent, which is nearly six times higher than in San Bernardino, Calif., the city with the lowest, 11.7 percent.
- Orlando, Fla., has the highest number of entry-level job openings per 100,000 working-age residents, 311.31, which is 39 times higher than in North Las Vegas, Nev., the city with the lowest, 7.99.