Ever wonder why the Bethesda area is such a dynamic and growing town? The DC Metro area continues to attract talent from across the United States due to the stability and depth of the job market here drawing upon the federal government, federal contractors and a huge landscape of private companies in the security, defense, medical, biotech and techology industries. Several national and international headquarters have moved to the DC metro area over the last ten years adding to the stability of the Washington DC market. According to a study just published, D.C. ranks 7th nationally in terms of annual labor force growth, 6th for job openings per capita, 4th in terms of both health care coverage and percentage of the workforce below the poverty line, 3rd for percentage of the work force employed full time and 2nd when it comes to median starting salary. Washington, D.C. median start salary of $52,344 ranks higher than San Francisco, New York and Seattle, and is second only by San Jose. However, Washington is about much more than politics and government jobs. The area also has a major presence in the banking, professional services, and tourism and hospitality industries. In fact, Washington actually boasts the 3rd most industry variety in the country, making it a land of promise for job seekers regardless of chosen field.
More than 100 million people have moved within the past five years, according to data from the U.S. Census Bureau, and 48% of unemployed individuals have picked up their roots in search of a job over that timeframe. In fact, 2014 is expected to be a strong year for hiring, with 27% of employers planning to hire, according to the National Association for Business Economics, and a projected 8% bump in the number of recent college graduates who land jobs, per the National Association for Colleges and Employers. Many of these jobs will be here in the DC metro area which attracts more and more young people to our area.
As an advocate for the health of consumers’ wallets, WalletHub analyzed the relative employment opportunities in the 60 largest U.S. cities in order to give people a sense of where on the map the strongest job markets and greatest prospects for long-term financial security can be found. They used 13 unique metrics, ranging from job openings per capita and industry variety to cost of living and the prevalence of employer-provided health benefits. Here is what they found.
