Forbes: Miami 3rd Worst Job Market In U.S.
MIAMI (CBS4) – The Sunshine State has long been the destination for people looking to escape the big cities. But, as the Great Recession hit, the jobs vanished from Florida as quickly as they appeared.
Now, some of Florida’s biggest cities have garnered even more negative ratings in a new Forbes survey of the worst job markets in the country.
Forbes ranked the best and worst job markets in the country, and Florida had three major cities in the top 10, led by Miami.
The list pegged Miami as the number 3 worst job market in the country. With unemployment over 12 percent, it’s not hard to follow Forbes’ logic. The website found that there are more than 9 applicants for every one position in the city.
Forbes said the real estate initially knocked Miami down, but trade, tourism and Miami’s Latin American connection could change things in a hurry.
“Miami’s recovery will be among the fastest in the nation,” Moody’s Economy.com wrote about the city. The only problem is that many of the new jobs that will be created will be low-paying service-sector positions, according to Forbes.
Orlando and Jacksonville also ranked in the top 10 worst job markets at number 10 and 9 respectively.
So where should you go to have the best chance of getting a job? Forbes found that Washington, D.C. was the best job market.
D.C.’s federal government jobs have helped stave off the recession in the area. But, Forbes warned that a large reduction in government spending could slow the District’s hiring rate.
Still, with companies needing to woo the federal government for lucrative contracts, many will still relocate to the area and bring jobs with them.
Boston was the second-best job market on Forbes’ list followed by: Austin, Texas; Minneapolis, Minnesota; and Oklahoma City, Oklahoma.