The HR and payroll company ADP has released a ranking of cities across the United States based on three key indicators of a strong labor market: annual pay growth, new hire wages, and the hiring rate. This study, published in August 2024, surveyed 55 U.S. metropolitan areas with populations of at least one million.
ADP identified top-performing cities, which include Denver, Oklahoma City, Las Vegas, Seattle, and Portland, Oregon. Conversely, cities that ranked the lowest are Providence, Rhode Island, Tampa, Florida, Baltimore, Salt Lake City, and Cleveland.
Julia Pollak, Chief Economist at ZipRecruiter, commented on industry trends, noting that if a particular industry or career is not experiencing growth or hiring, it may be due to a high number of workers remaining in their current positions. Pollak observed that there has been a shift from what was termed the “great resignation” to a phase described as the “great stay.” She highlighted that companies are hiring and firing fewer workers than before the pandemic, resulting in less frequent job changes. This situation brings unprecedented job security for those satisfied with their jobs, but fewer opportunities for individuals seeking new employment or who are unhappy in their current roles.
Pollak also touched on potential improvements in the labor market, suggesting that a signal from the Federal Reserve to possibly cut rates on September 18th could accelerate hiring and strengthen the labor market dynamics.
According to ADP’s report, Denver stands out as the leading job market, with a median pay for new hires at $19 per hour and a monthly hiring rate of 4.5%. The survey indicated that metropolitan areas with thriving industries, such as construction and manufacturing, benefit significantly in the job market. PepsiCo, for example, is heavily involved in Denver, with major hiring activities contributing to the city’s high ranking.
PepsiCo Beverages North America (PBNA) spokesperson Jessica Neilsen revealed plans for the company’s largest manufacturing facility in North America, doubling its Denver workforce to 500 employees. The new facility, named HighPoint, will span 1.2 million square feet and service western states such as Utah, New Mexico, and California. Neilsen emphasized PepsiCo’s longstanding presence in Denver since the 1950s and the company’s intent to expand its footprint in the community.
Across the United States, the Bureau of Labor Statistics identifies some of the fastest-growing industries as healthcare, with roles like nurse practitioners and physician assistants, and government jobs, including cybersecurity analysts.
