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Despite a soft patch in the fall of 2013, job creation reversed course and pressed upward this spring and summer. Of the more than 170 markets currently tracked by NAR Research, 85% had a stronger level of employment in June of 2014 than the same time in 2013.
The top 10 strongest markets over the 12 months ending in June were lead by Grand Rapids. Florida posted three markets in the top 10 as well. Boulder, Raleigh, Fargo and Myrtle Beach also made the list. Each of these markets improved upon what were solid gains over the 12-month period ending in June of 2013 (left below).
The sharpest reversal in fortune came in Danville, Illinois where employment growth was flat over the 12-months ending in June of 2014 compared to a 4.1% decline in employment over the prior 12 months (right, above). The rest of the MSAs that made the top 10 most improved list showed positive gains of at least 0.5% growth over the 12-month period ending in June, while 5 grew by 2.5% or stronger, outpacing the U.S. average of 1.7% for this same time-period.
Want to find out more information about employment trends in your local market? NAR Research recently released Local Market Reports for the 2nd quarter of 2014. These reports cover market fundamentals of supply and demand for more than 170 metro areas.
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