Cities in the South and midwest were among the regions with the biggest job growth for 2022, while the west coast fell short.
Metro areas averaged job gains of about 11.9% in 2022 compared to 2021.
Count Charlotte among the big winners. The local metro area posted year-over-year job growth of 16.2%, according to the data. That registered as the second-highest growth rate of metros included in the analysis.
People are choosing factors such as affordability and quality of life over where jobs are traditionally concentrated, a trend that has played out in Census data throughout the pandemic.
Rochester, New York, set the pace in 2022 with growth of 17.7% compared to 2021. San Antonio (16.1%) and Louisville, Kentucky, (15.9%) trailed Rochester and Charlotte for third and fourth place, respectively.
At the other end of the spectrum were Buffalo, New York (3.5% decline), Sacramento (6.6% growth), San Francisco (7.7% growth) and Winston-Salem, North Carolina (7.9% growth).
Even though the Federal Reserve has been working to cool down the hiring market, the labor shortage is likely to persist into 2023 and beyond as Gen Z — a much smaller generation — enters the workforce and older workers retire.
The United States added about 263,000 jobs in November, far above expert estimates of around 200,000. The unemployment rate sits unchanged from at 3.7%.
Charlotte has several key industries that continue to keep the region economically stable, including banking, financial services, manufacturing, energy, automotive, health, technology, and retail.
Bank of America. Charlotte is home to BOA headquarters. As a leader, the bank employees more than 15,000 workers in the Charlotte area. Bank of America has consistently maintained this high number of employees for nearly 10 years.
Wells Fargo. Charlotte is also home base for the Wells Fargo east coast division, which has approximately 25,000 employees working in the city. Wells Fargo has been acknowledged as one of the country's most desired employers.
Duke Energy. Headquartered in Charlotte, Duke Energy has the distinction as being one of America's largest holding companies for electrical power.
Atrium Health. The not-for-profit-business has approximately 60,000 employees working throughout its 900 care locations and 40 hospitals in both North and South Carolina. Atrium Health's headquarters are located in Charlotte.
Novant Health. The health organization is a major source for employment in Charlotte, with over 28,000 workers in professional positions. Novant offers job in areas such as outpatient centers, physician practices, medical services, and hospitals.
Amazon. Jobs at Amazon's Charlotte offices and facilities continue to be some of the most popular and sought-after in the city.
Passport. The software developer is a major contributor of programs to support transportation and mobility. Headquartered in Charlotte, the company manages over 5,000 locations worldwide.
Lending Tree. Another financial company, Lending Tree is headquartered in Charlotte with nearly 1,000 employees and more working in locations around the U.S.
Lowe's. Since 1946, this long-established company employs nearly 300,000 workers in over 2,300 retail facilities in America. Headquartered just outside Charlotte in Mooresville, the company is community-oriented with generous benefits and educational programs.
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