Pic-of-the-Week: Four States Dominate Job Growth in the Recovery (06/23/2014)

Four states are leading the pack in job growth so far in the recovery – The states of North Dakota, Texas, Utah, and Colorado have posted the fastest job growth to date in the recession (Jan. 2010 through May 2014). All four have added more than 10% to their workforce during the recovery. North Dakota’s 26% gain is more than twice the 13% gain for second place Texas. What do these states have in common? 

All four are traditional energy-producing states and are receiving a significant boost from high oil prices and growing natural gas output. Texas, Colorado, and Utah are also traditional fast-growth, high in-migration states and have a strong high-tech presence. Colorado and Utah are high-amenity Rocky Mountain destination states.

Among the remaining states, most of the West Coast states are back in the top half once again, including the Housing Bust states of California and Nevada.

Florida, Tennessee, and South Carolina lead the Southeastern states.

Most of the central Plains states (heavy agriculture) have fallen to the bottom half of the rankings despite continued strength in crop prices.

The weakest states include New Mexico (Federal Govt. layoffs) in the Southwest, Mississippi and Alabama (manufacturing collapse in both) in the Southeast, and Maine and New Jersey in the Northeast.