Charleston, South Carolina had the No. 1 increase in percentage.
In 2023, Dallas-Plano still leads the U.S. in the job market (separately, it also led the U.S. in commercial real estate transactions last year, according to MSCI). Meanwhile, other cities in the top 10 job markets have undergone some degree of restructuring as fundamental local conditions have changed.
real page report Dallas-Plano created 101,000 jobs and was the only market to add more than 100,000 jobs in 2023. The next largest city was Los Angeles, with an increase of 95,800 jobs.
New York, which was in second place in November, has fallen to seventh place. Philadelphia remained in third place with 81,100 jobs, down just 2,100 from November.
Boston moved up three spots to No. 4, gaining 77,900 jobs in 2023, an improvement from both November and last December. Atlanta gained her 72,000 jobs and moved up one spot to her fifth place. The annual total was 27,600 fewer than in 2022.
Houston fell two spots to sixth place, gaining 70,100 jobs. Miami ranked eighth, Las Vegas ranked ninth, and Phoenix rounded out the top 10.
The total number of people in the top 10 decreased by 22,300 compared to the previous year. However, from No. 11 to his No. 20 market, he increased by 12,800 overall.
In terms of employee share growth by market, the top 10 markets had an average employment rate increase of 4.1% in December, the same as the previous month.
Charleston, South Carolina remained in first place at 6%, an increase of 10 basis points (bp) from last month. Las Vegas and Salinas, Calif., tied for second place with a 4.1% growth rate, but are moving in different directions. Las Vegas rose 30 basis points for the month, while Salinas fell 40 basis points. Miami and Raleigh/Durham tied for fourth with the same growth rate as last month (3.9%).
The main markets with job losses are Denver and Detroit. Memphis was still the same. Markets with less than 1% growth include Milwaukee, Columbus, Ohio, Buffalo, Virginia Beach, Des Moines, Chicago, New York, Kansas City, and San Jose.
Key markets with growth rates of less than 1.5% include West Palm Beach, Washington DC, Portland, and San Francisco.
Outside of the top growth markets, the biggest movers were Birmingham, Spokane, Akron, Santa Maria/Santa Barbara, and Baltimore. Employment growth in each country increased by more than 180 bps over last year.
Meanwhile, the cities with the biggest declines were Midland/Odessa, Orlando, Wilmington, North Carolina, Cape Coral-Fort Myers, Florida, and Austin, each of which saw job growth decline by at least 350 basis points from last year.
