Texas remained one of the nation’s top markets for employment gains in May, although the state has experienced a decline in rankings among the top 150, according to RealPage’s May metro employment update. Most of April’s top 10 employment markets returned to the top of the list last month, but with many at different spots.
Both Houston and Dallas fell two spots in this month’s list of top 10 leaders for job creation to third and fifth place, respectively. Both markets added roughly 29,000 jobs for the year ending in May. San Antonio held its No. 8 spot on the list, but Austin has fallen out of the top 10 and now ranks 12th on the list.
New York was the top market for job creation, with 76,700 jobs gained for the year ending in May. That represented 39,000 fewer jobs than were added during the previous 12 months. Philadelphia came in second with 41,100 jobs added, followed by Orlando with 31,900 new jobs for the year ending in May.
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Houston ranked fourth in employment creation with 29,600, followed by Dallas with 29,100 and Washington, D.C., with 27,300. In seventh place was Salt Lake City with 25,800 new jobs, San Antonio ranked eighth with 25,400, Charlotte came in ninth place with 24,600 and rounding out the top 10 was Miami with 23,700.
All together, the top 10 markets added 335,200 jobs for the year ending in May, about 75,500 fewer than the same 10 markets added last May. The next 10 markets on the list logged a decrease in total gains of 15.1% to a total of 173,200 new jobs.
The last time any market exceeded 100,000 new jobs was in January, and only New York topped 50,000 new jobs in May. Twenty-three of RealPage’s top 150 markets posted annual job losses for the year, one more than last month. The Bay Area and several Midwest markets, including St. Louis, Des Moines, Milwaukee, Kansas City and Akron, all posted job losses.
Myrtle Beach and Charleston, South Carolina, remained in the top two spots for annual percentage change in employment, both increasing 30 to 40 basis points. Fayetteville, Arkansas, and College Station, Texas, both college towns, came in third and fourth place on the list with job growth of 3.3%. Champaign, Illinois, rounded out the top five, with 3%.
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Kristen Smithberg
Kristen Smithberg is a Colorado-based freelance writer who covers commercial real estate, insurance, benefits and retirement topics for BenefitsPRO and other industry publications.
