Are you considering relocation for work? Have you hit a wall in your job search and are wondering if another location might yield better results based on your skills and experience? Consider Nashville as a potential option. The city has been experiencing a substantive trend of positive economic growth, which means the job market is booming as well. All-Star Personnel shares the top indicators why Nashville might be your best bet for relocation.
Sustained Economic Growth
The Nashville job market has been growing at an impressive rate, but as yet there aren’t enough job seekers in the applicant pool to fill the demand. While it’s true that as a region experiences more job growth, more people will move to the area to take those jobs, this has yet to occur in the greater Nashville area making it a prime location for job seekers. At the rate that Nashville has experienced job growth over the past couple years, this upward trend is not expected to slow down anytime soon. In fact, job growth is projected to continue for at least a few more years as the applicant pool expands in response to the demand.
A Strong Housing Market
Affordability is still well above national and state averages in terms of income compared to home prices. Wage data is showing that overall, the market still has some room to grow, so the region as a whole is projected to continue on its upward trajectory. Affordable housing and projected job market growth make Nashville a near ideal location for relocation, unlike some other areas which are experiencing similar demand for talent but have exclusionary housing prices which make moving into the area difficult for new hires.
Continued Job Growth Projected
As companies and individuals with higher-paying jobs find themselves doing better and better, they inevitably spend money in other industries, thus creating a trickle-down effect of increased prosperity and job growth. This economic growth has a wide spread impact on a number of industries throughout a region, including hospitality and support services. According to the U.S. Bureau of Labor Statistics, the region has experienced a more than 20 percent increase in nonfarm jobs since the Great Recession ended in 2009, which is well above the national average. Unemployment is as low as 3.6 percent for nonfarm wage and salary workers in the greater Nashville area. Compare that to the 5 percent national average unemployment rate and Nashville looks to be doing quite well for itself.
Tech startups in particular appear to be part of Nashville’s long-term job growth. As more and more industries become increasingly dependent on technological improvements, the companies providing opportunities in technical and supporting roles are rising to fill the demand. Nashville in particular is seen as a strong economy for growth in the tech industry due to the presence of a number of colleges and universities supplying graduates who are looking to join young and growing companies.
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