With 2023 in full swing, workers may be ready for a
While talk of budget cuts and layoffs may suggest that hiring has slowed, the U.S. labor shortage continues, with the unemployment rate sitting at 3.7%. In fact, according to the National Association of Colleges and Employers, employers plan to hire 15% more employees than they did in 2022. WalletHub, a personal finance resource, examined 182 cities in the U.S. to help job seekers start or transition their careers in a new city.
WalletHub scored each location based on job market-related factors like available opportunities, monthly average starting salary, unemployment rate and access to private health insurance. Additionally, the score accounted for socioeconomic metrics such as average commute time, housing affordability and percentage of residents vaccinated against COVID-19. It's vital that job seekers consider their financial ambitions as well as their lifestyle, explains Jill Gonzalez, an analyst at WalletHub.
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"If you're looking to relocate for a new job, make sure you measure your potential earnings against the cost of living in that city — affordability and accessibility are key," says Gonzalez. "Your priorities will vary depending on whether you're single or you have a family. You may also want to look into the quality of schools, healthcare, entertainment opportunities, or the dating scene."
Notably, San Francisco took the number one spot, scoring 65 points, while Memphis, Tennesse took last place at 40 points. Since no city hovers near 100 points, it's clear that every city will have its pitfalls. Gonzalez advises job seekers to understand what value the new city will bring when they are not working.
Here are the 10 best and worst cities for finding a new job in 2023, according to
