05 Jan Best State for Job Growth in 2022
Moving into the new year of 2022, the American job market has experienced a whirlwind over the last 2 years. With the outbreak of COVID-19, the national shutdown, and more, some American workers are still trying to find their way back to the work force. With some companies cutting jobs or going completely virtual, finding the right job can be stressful. However, some workers are looking for a fresh start in a different city or state that features better job growth. In this article, we’ll take a look at the one state that could be a big target for people looking for a fresh start and a new opportunity.
The Best States for Job Growth in 2022
Before we talk about the top state for job growth in 2022, let’s take a look at some of the other states that are also likely to experience great job growth this year, according to data from the Bureau of Labor Statistics.
Utah is quickly becoming one of the hottest locations for job seekers. Salt Lake City topped our list of the top ten cities for job growth in 2022. With a very low unemployment rate, great pace of job growth and economic growth, and almost no job competition, the area is a good spot for people looking for a change. Utah is known for its outdoors activities, and it has a competitive cost of living compared to the rest of the country.
The state of Massachusetts offers plenty of job opportunities but has a higher unemployment rate than the national average. While the unemployment rate might be a bit worrisome for someone looking to start a new career in the state, there are good long-term employment opportunities for those looking for qualifying jobs. The median pay is one of the best in the country. The state also has a very rich history along with beautiful natural amenities.
The state of Virginia is ranked just outside the top ten states for employment opportunities, but with IT and other tech jobs becoming more in demand, the state may experience a new wave of services in the job market. The unemployment rate in Virginia is about average, but they rank in the top ten for both median salary and average weekly wages. Virginia’s slow population growth rate could make it an attractive spot for tech analysts.
The Best State for Job Growth in 2022
While the above three states will certainly be targets for job seekers of various fields, there’s one state that stands out significantly for job growth in 2022. With statistics gathered from the Bureau of Labor Statistics, as well as the U.S. Census and other sources, this state stood out as the top state for several different factors. These factors were job growth, labor force participation, and their unemployment rate, as well as population growth rate.
Colorado is the top state in the country for job growth in 2022
The top state for job growth in the country is indeed Colorado. According to the Bureau of Labor Statistics, the state has seen a huge increase in job openings since 2010. This is not surprising considering that the state is home to many major industries such as aerospace, technology, health care, and energy. The state also boasts a large services industry including university education services, finance, wholesale and retail trade, software development, and more.
Colorado’s largest industries include manufacturing, mining, and agriculture. The state uses 33 million acres of land for agriculture, the mining industry contributes about $7 billion to the state’s gross domestic product and houses large manufacturing companies like Ball Aerospace and Technologies Corp, IBM, and Oracle.
The average salary in Colorado is just below the national average, at $63,026 a year. Job growth has been very steady while the population growth is below one percent from 2020 to 2021. Here are some of the pros and cons of moving to Colorado to pursue a new job opportunity:
- Quality of life is high in the state, ranking in the top five in the country for well-being, financial security, community, and physical health of its residents
- The state offers possibly the widest variety of outdoor activities in the country with hiking, skiing, snowboarding, professional sports, and more
- The state has a low population growth rate, but also has low labor market participation, meaning more available occupations
- The cost of living is much higher than the national average
- The housing market is rough, but not so much in the isolated communities outside of the major cities
- Traffic can be some of the worst in the country, making for long commutes to and from work
While Colorado’s cons may be big ones to those looking for a new opportunity in a new state, there are a lot more pros that come along with living in the state. Employment opportunities will keep arising in the state and as the national economy continues to recover from the coronavirus impact, Colorado’s will as well. The tech sectors and business services sectors will both continue to grow, and wages are likely to increase. Another pro that wasn’t listed was the relatively low income tax that the state carries.
Colorado’s current income tax rate of 4.63% rates 26th in the nation and they carry a flat tax rate among tax brackets.
All that said, if you’re looking for a new job opportunity in 2022, Colorado is your best bet. Cities like Denver, Boulder, and Colorado Springs have plenty to offer in food, entertainment, and activities. With multiple professional sports teams and weather that gets all four seasons, there’s never a day where you can run out of things to do. Working in Colorado is fun but playing in Colorado is even more fun!
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