Looking for a job? This Texas city has one of the best job markets in US, report says
Texas is home to a city with one of the best job markets in the United States, according to a new report from personal finance website WalletHub.
The coronavirus pandemic did a number on the job market, with unemployment surging to more than 14% in April as stay-home orders sprouted across the nation, data from the U.S. Bureau of Labor Statistics shows.
The employment landscape has since improved — unemployment dropped to 6.7% by November — and for those on the job hunt, WalletHub says prospects depend largely on location.
The website just released its list of the best cities for jobs in 2021, and Plano ranked 10th.
South Burlington, Vermont, landed in the top spot. Rounding out the top five were Columbia, Maryland; Virginia Beach, Virginia; Salt Lake City, Utah; and Boise, Idaho.
To determine its rankings, WalletHub assessed more than 180 U.S. cities across several factors that fall into two categories: job market and socio-economics.
Plano’s best ranking was 14th in socio-economics. The category examines factors such as housing affordability, family friendliness and average work and commute time, among others.
The North Texas city — home to an estimated 288,000 people in 2019 — tied with four other cities for the highest median household income.
In the job market category, Plano landed the No. 17 spot. The category looks at factors including job opportunities — calculated by subtracting the unemployment rate from the number of job openings per number of people in the labor force — average monthly starting salary, job security and employment outlook.
Rent-a-Center, Toyota Motor North America and movie theater chain Cinemark are all headquartered in Plano, and the city’s economic development department said the manufacturing, electronics, software, media and financial services industries are among several flourishing in the area. Plano is also home to several regional headquarters.
Austin was the only other Texas city to crack the top 50, landing at No. 23. Houston ranked 93rd, and Fort Worth ranked 100th. San Antonio landed in the 100th spot with Dallas following at 112th.