04/05/2023
๐ก๐ฎ๐๐ต๐๐ถ๐น๐น๐ฒ ๐ถ๐ ๐๐ต๐ฒ ๐ต๐ผ๐๐๐ฒ๐๐ ๐ท๐ผ๐ฏ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ถ๐ป ๐๐ต๐ฒ ๐จ.๐ฆ., ๐ฎ๐ฐ๐ฐ๐ผ๐ฟ๐ฑ๐ถ๐ป๐ด ๐๐ผ ๐ฎ ๐ฟ๐ฒ๐ฐ๐ฒ๐ป๐ ๐๐๐๐ฑ๐ ๐ฏ๐ ๐๐ต๐ฒ ๐ช๐ฎ๐น๐น ๐ฆ๐๐ฟ๐ฒ๐ฒ๐ ๐๐ผ๐๐ฟ๐ป๐ฎ๐น.
"Nashville has benefited from Americansโ desire to move to cities in the South and the resurgence in tourism in recent years," the report said.
The WSJ study was done in conjunction with Moodyโs Analytics, which looked at the unemployment rate, labor-force participation rate, changes to employment levels, the size of the labor force and wages in 2022 in about 380 metro areas.
Southern cities tended to do particularly well, with the combination of low costs, rapid growth and an increasing number of young people making them attractive places for companies.
Austin ranked No. 2, followed by Jacksonville, Florida at No. 3.
The report highlighted AllianceBernstein LP's headquarters move to Nashville and notes Music City had the third highest share of adults employed or job searching.
Companies still need to play offense if they want to hire skilled professionals, experts said.
A recent survey of 2,000 hiring managers in the U.S. by talent solutions and business consulting firm Robert Half found most companies were planning on hiring again in 2023 in a job market that shows few signs of truly slowing down. About 58% plan to hire in the first half of the year โ up from 46% just six months ago โ although still fewer than the 65% who said they would hire in the first half of 2022.
But despite repeated warnings of a potential recession by experts and continued interest rate hikes by the Federal Reserve designed to weaken the job market, good workers were still hard to find. About 90% of hiring managers said it was still challenging finding skilled professionals and employers said it could take up to 11 weeks on average to hire for an open position, up from seven weeks in 2021.
Nashville is the hottest job market in the U.S., according to a recent study by the Wall Street Journal.