Sure, millennials and GenXers might care which states have the most growth in jobs. But why should an older worker care, since retirement is on the horizon?
First, boomers are filing for bankruptcy at triple the rate they did in 1991, which means they aren’t facing their golden years with anything like anticipation.
Second, even if they’re not declaring bankruptcy, many older workers are postponing retirement till age 70 or even later.
Third, it’s harder for older people to find and keep jobs, thanks to age discrimination.
So if you’re approaching retirement and don’t think you’re interested in states where there’s a healthy job market, you might want to reconsider.
Kiplinger has come up with the top 10 states where job growth is likely to continue. As its report points out, “Widespread growth spells even tighter labor markets, and that could start to crimp regional growth rates. Job openings have reached or are near record levels in all regions, and hiring is starting to slow because of the lack of qualified candidates.
Certain metro areas have unemployment rates below 3 percent, including Denver; Madison, Wisconsin; Nashville, Tennessee; and the San Francisco Bay area. Look for hiring slowdowns to continue as more positions become unfillable.”
When relocating, whether you’re a millennial, GenXer, or young tail-end Boomer, it only makes sense to look for a place to live where you’ll be able to find work.
Have a look at the 10 states below with the fastest rate of job growth:
10. Oregon
Population: 4,142,776
2018 job growth: 2.1 percent
2017 job growth: 2.2 percent
New jobs in 2018: 40,000
New jobs in 2017: 40,200
Unemployment rate by year-end 2018: 3.9 percent
Unemployment rate at year-end 2017: 4.1 percent
9. North Carolina
Population: 10,273,419
2018 job growth: 2.3 percent
2017 job growth: 1.7 percent
New jobs in 2018: 102,500
New jobs in 2017: 74,100
Unemployment rate by year-end 2018: 4.1 percent
Unemployment rate at year-end 2017: 4.5 percent
8. Florida
Population: 20,984,400
2018 job growth: 2.3 percent
2017 job growth: 2.2 percent
New jobs in 2018: 193,400
New jobs in 2017: 181,500
Unemployment rate by year-end 2018: 3.7 percent
Unemployment rate at year-end 2017: 3.9 percent
7.Arizona
Population: 7,016,270
2018 job growth: 2.4 percent
2017 job growth: 2.4 percent
New jobs in 2018: 67,000
New jobs in 2017:65,200
Unemployment rate by year-end 2018: 4.5 percent
Unemployment rate at year-end 2017: 4.7 percent
6. Colorado
Population: 5,607,154
2018 job growth: 2.7 percent
2017 job growth: 2.2 percent
New jobs in 2018: 70,900
New jobs in 2017: 56,100
Unemployment rate by year-end 2018: 2.6 percent
Unemployment rate at year-end 2017: 3.0 percent
5. Washington
Population: 7,405,743
2018 job growth: 2.8 percent
2017 job growth: 2.5 percent
New jobs in 2018: 92,100
New jobs in 2017: 82,000
Unemployment rate by year-end 2018: 4.6 percent
Unemployment rate at year-end 2017: 4.7 percent
4.Texas
Population: 28,304,596
2018 job growth: 2.9 percent
2017 job growth: 1.8 percent
New jobs in 2018: 351,300
New jobs in 2017: 211,400
Unemployment rate by year-end 2018: 3.9 percent
Unemployment rate at year-end 2017: 4.0 percent
3. Nevada
Population: 2,998,039
2018 job growth: 2.9 percent
2017 job growth: 3.3 percent
New jobs in 2018: 38,900
New jobs in 2017: 42,600
Unemployment rate by year-end 2018: 4.5 percent
Unemployment rate at year-end 2017: 4.9 percent
2. Utah
Population: 3,101,833
2018 job growth: 3.0 percent
2017 job growth: 2.9 percent
New jobs in 2018: 44,200
New jobs in 2017: 41,800
Unemployment rate by year-end 2018: 2.8 percent
Unemployment rate at year-end 2017: 3.2 percent
1. Idaho
Population: 1,716,943
2018 job growth: 3.0 percent
2017 job growth: 3.3 percent
New jobs in 2018: 21,300
New jobs in 2017: 22,700
Unemployment rate by year-end 2018: 2.7 percent
Unemployment rate at year-end 2017: 3.0 percent