14 Apr 2016 Fastest Growing Mid-Sized Metro Private Economies of 2015 are Fayetteville-AR, Provo-UT, Cape Coral-FL; Slowest are Scranton-PA, Tulsa-OK, Syracuse-NY
Recently released data from the U.S. Bureau of Labor Statistics illuminates which mid-sized metros have the fastest growing private sector. Growth is measured by the percentage change in private sector employment between Dec. 2014 and Dec. 2015. Headlight Data ranks private sector employment growth for the 52 mid-sized metros (500,000 – 1,000,000 people) in the U.S.
In 2015, U.S. private sector employment grew 2.3%. Among mid-sized metros, the highest percentage growth is found in Fayetteville-AR (5.2%). Provo-UT (4.9%), Cape Coral-FL (4.9%) and Ogden-UT (4.8%) follow. Other mid-sized metros with rapidly growing economies are Stockton-CA, Modesto-CA and Deltona-FL.
Scranton-PA (-0.5%), Tulsa-OK (-0.3%), and Syracuse-NY (-0.2%) ranked low for growth.
Since 2010, the U.S. private sector growth rate has increased 1.2 percentage points. The mid-sized metros showing the most improvement (with the greatest 5-year increase in the annual growth rate) are Stockton-CA (+6.5 pts.), Deltona-FL (+5.3 pts.) and Ogden-UT (5.0 pts.). Lakeland-FL, Modesto-CA and Colorado Springs-CO also experienced a substantial improvement.
Eighteen mid-sized metros have slowed since 2010. The mid-sized metros with the largest declines in growth rate are Allentown-PA (2.6 pt. decrease), Bakersfield-CA (-2.2 pts.) and Scranton-PA (-2.0 pts.). Other metros with a declining growth rate since 2010 are Youngstown-OH, McAllen-TX and Tulsa-OK.
Research, analysis and content developed by Headlight Data. Original data from the U.S. Bureau of Labor Statistics.
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