05 Jul 2017 Fastest Growing Mid-Sized Metro Economies Of 2016 Are Provo, Deltona, Cape Coral; Slowest Are Youngstown, Tulsa, Baton Rouge
Recently released data from the U.S. Bureau of Labor Statistics illuminates which mid-sized metros have the fastest growing economies. Growth is measured by the percentage change in employment between the annual average of 2015 and 2016. Headlight Data ranks employment growth for the 54 mid-sized metros (500,000<1M people) in the U.S.
In 2016, U.S. employment grew 1.7%. Among mid-sized metros, the highest growth is found in Provo (5.7%). Deltona (4.6%), Cape Coral (4.3%), Boise City (4.3%) and Fayetteville (3.9%) follow. Other mid-sized metros with rapidly growing economies are Palm Bay, Charleston and Stockton.
Three mid-sized metros have shrinking economies. The greatest employment decline is found in Youngstown (-0.7%). Tulsa (-0.6%), Baton Rouge (0.3%) and Wichita (0.1%) follow.
Since 2015, the U.S. growth rate has decreased 0.4 percentage points. The mid-sized metros showing the most improvement (with the greatest increase in the annual growth rate) are Deltona (+1.4 pts.), Durham (+1.4 pts.) and Boise City (+1 pts.). Spokane, Palm Bay and Des Moines also experienced a substantial improvement.
Exactly 2 out of 3 metros have slowed since 2015. The mid-sized metros with the largest declines in growth rate are Stockton (3.2 pts. decrease), Baton Rouge (-2.1 pts.) and Tulsa (-2 pts.). Other metros with a large declining growth rate since 2015 are Cape Coral, Chattanooga and North Port.
Research, analysis and content developed by Headlight Data. Original data from the U.S. Bureau of Labor Statistics.
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