The numbers look great after the Bureau of Labor Statistics' reported on the United States economy! In June, 288,000 jobs were added. The unemployment rate fell to 6.1 percent, which is the lowest percentage since the financial crisis. The past six months have had the best showing on job creation since 2006 with 1.4 million jobs added. Along with job creation and lowering unemployment rate, the Dow Jones topped 17,000 for the first time on the news. The recent numbers may look great overall, but the U.S. economic recovery has been very uneven.
Income growth has been nonexistent with high unemployment rates in most metropolitan areas. These metropolitan areas not only report low income growth, but more than half of them report showing negative real income growth. A dozen of these metro areas still mired in double-digit unemployment. After seeing these trends, Forbes crunched numbers on every metro area and reported their results in their 16th annual Best for Business and Careers.
Our own Gainesville topped the list at #83 and ranked #21 in education. In Florida, Gainesville ranked 7th behind West Palm Beach, Orlando, North Port, Tampa, Jacksonville and Cape Coral. The study and rankings were based on the perceived business climate, cost of business, job growth and education.
Raleigh, North Carolina ranked #1 this year. In 2013, they were ranked third. Raleigh ranked first in 2011 and had a three year run in the top spot from 2007 to 2009. The North Carolina capital is the only East Coast city that made the top 10. Raleigh's success can be attributed to business costs that are 18 percent below the national average. The city, which has an adult population where 42 percent have a college degree, has attracted new residents making it the sixth fastest net migration rate over the past five years.