14 Apr 2016 Fastest Growing Large Metro Economies of 2015 are Austin, Orlando, San Jose; Slowest are Rochester, Pittsburgh, Buffalo
Recently released data from the U.S. Bureau of Labor Statistics illuminates which large metros have the fastest growing economies. Growth is measured by the percentage change in employment between Dec. 2014 and Dec. 2015. Headlight Data ranks employment growth for the 53 largest metros (1,000,000+ people) in the U.S.
In 2015, U.S. employment grew 2.0%. Among large metros, the highest growth is found in Austin (4.7%). Orlando (4.6%), San Jose (4.2%), and Richmond (4.1%) follow. Other large metros with rapidly growing economies are Raleigh, San Francisco and Jacksonville.
Four large metros have shrinking economies. The greatest employment decline is found in Rochester (-0.7%). Pittsburgh (-0.1%), Buffalo (-0.1%) and New Orleans (-0.1%) follow.
Since 2010, the U.S. growth rate has increased 1.2 percentage points. The large metros showing the most improvement (with the greatest increase in the annual growth rate) are Sacramento (+4.4 pts.), Las Vegas (+3.8 pts.) and Richmond (+3.4 pts.). San Francisco, Orlando and Riverside also experienced a substantial improvement.
Twelve large metros have slowed since 2010. The large metros with the largest declines in growth rate are Oklahoma City (2.3 pt. decrease), Pittsburgh (-1.8 pts.) and Rochester (-1.6 pts.). Other metros with a declining growth rate since 2010 are Houston, New Orleans and Buffalo.
Research, analysis and content developed by Headlight Data. Original data from the U.S. Bureau of Labor Statistics.
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