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SALT LAKE CITY — Every year, the workforce loses employees to retirement and gains new ones entering for the first time.
Projections by the U.S. Bureau of Labor Statistics of the workforce, using data from from 2014-2024, show that although the workforce is growing, it's at a slower pace than in past decades. "Still, even with the decreasing participation rates of the past few years, because population is the single most important factor in determining the size and composition of the labor force, the declining growth of the labor force is more a result of the declining growth rate of the population over the years," the project report read.
For the 163.8 million people that have entered into their trades in the last 10 years or are just getting started this year, choosing where you want to establish and build your career is an important decision, and according to a recent WalletHub survey, certain cities in the U.S. outshine others when it comes to starting a career.
Top 5 best cities to begin a career:
- Atlanta, Georgia
- Orlando, Florida
- Salt Lake City
- Tampa, Florida
- Pittsburgh, Pennsylvania
"The best cities for starting a career not only have a lot of job opportunities but also provide substantial income growth potential and satisfying work conditions," WalletHub analyst Cassandra Happe said, per the survey. "It's also important to consider factors such as how fun a city is to live in or how good of a place it is for raising a family, to ensure life satisfaction outside of your career."
Top 5 worst cities to begin a career:
- New York City, New York
- Bridgeport, Connecticut
- Pembroke Pines, Florida
- Santa Clarita, California
- Yonkers, New York
It should come as no surprise that Utah's capital ranked high in the study. Last month, Salt Lake City landed first in The Wall Street Journal and Moody's Analytics rankings of cities with the hottest job market. "There's a virtuous cycle where young, highly educated workers are moving into Salt Lake City and bringing in more money to that area," Adam Kamins, an economist at Moody's Analytics, said in the Wall Street Journal article.
Another WalletHub study released last month listed Cedar City as one of the Top 10 small American cities for business startups nationwide. Business mentoring company Score said, "Utah's diverse economy, business-friendly environment, and thriving industries make it an excellent place for businesses to invest. Companies should consider the state's primary industries and potential return on investment when deciding where to invest."
Regarding the trends and predictions of the 2024 hiring pool, the National Association of Colleges and Employers reported optimistic projections for those looking to begin their careers this year, even with a dip compared to previous years:
"Overall hiring for the college class of 2024 is projected to dip by 1.9%. ... To be sure, if the projections hold, members of the class of 2024 are still entering a strong job market, although they may need to be flexible to attain the position they want," the association said.
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Emma Pitts
