Top 7 Leading & Trailing Markets for Employment Recovery


Lately, we’ve seen employment splashed across headlines nationwide, as the struggling rates for employment recovery have painted a challenging picture for the US economy in a return to it’s previous pre-COVID era. Staffing challenges and frustrations from employers have become increasingly more common as businesses around the nation have begun to re-open and operate again at larger or even full capacity. The fallout impacts of the federal unemployment benefits and stimulus, along with the state based benefits, have created challenges for market recovery that still have some debating whether the US is indeed past the recession or not.


It's not all bad news though, as Reuter’s cites that, “The headline jobs gap is large, but the shortfall is also concentrated in the leisure and hospitality industries that may be the slowest to recover given restrictions on some activities like sports events, and the reluctance of some people to mingle too closely.”


Despite the challenges for some industries, and the reluctance to the return of the workforce by others, there are many markets that have recovered extremely well and are fully into an expansion within the cycle. This information is vital for real estate investors, as the best approach for mitigating risks, particularly in a turbulent market for the US as a whole, is to diversify through fund strategies, carefully evaluated individual investments in varying markets, or other investment vehicles. Selecting the markets that are leading in economic recovery is clearly an important factor to consider.


So, which markets are leading the pack? Which have a long way to go? As of April 2021, the national unemployment rate was averaging at 6.1%, with the median household income at $53,482 a year. In contrast, let’s take a look at where other large metropolitan areas stand in comparison:


The 7 Markets Struggling Most in Employment Recovery


7. Riverside-San Bernardino-Ontario, CA

Unemployment Rate (as of March 2021): 7.7%

Recent Job Growth Percentage: -5.7%

Median Household Income: $55,362

Fun Fact - Current Highest Detailed Industry Increase for Employment (RSE): Carpet Installers, 49.4%


6. Houston-The Woodlands-Sugar Land, TX

Unemployment Rate (as of March 2021): 8%

Recent Job Growth Percentage: -5.6%

Median Household Income: $58,689

Fun Fact - Current Highest Detailed Industry Increase for Employment (RSE): Sewers, 49.7%


5. New Orleans-Metairie, LA

Unemployment Rate (as of March 2021): 8%

Recent Job Growth Percentage: -7.3%

Median Household Income: $51,808

Fun Fact - Current Highest Detailed Industry Increase for Employment (RSE): Broadcast Technicians, 48.7%


4. Hartford-West Hartford-East Hartford, CT

Unemployment Rate (as of March 2021): 8.2%

Recent Job Growth Percentage: -6.0%

Median Household Income: $84,092

Fun Fact - Current Highest Detailed Industry Increase for Employment (RSE): Farmworkers and Laborers, 49.8%


3. Las Vegas-Henderson-Paradise, NV

Unemployment Rate (as of March 2021): 8.8%

Recent Job Growth Percentage: -13.2%

Median Household Income: $63,830

Fun Fact - Current Highest Detailed Industry Increase for Employment (RSE): Jewelers, Precious Stone and Metal Workers, 49.9%


2. New York-Newark-Jersey City, NY-NJ-PA

Unemployment Rate (as of March 2021): 8.8%

Recent Job Growth Percentage: -9.19%

Median Household Income: $66,902

Fun Fact - Current Highest Detailed Industry Increase for Employment (RSE): Boilermakers, 48.5%


1. Los Angeles-Long Beach-Anaheim, CA

Unemployment Rate (as of March 2021): 9.8%

Recent Job Growth Percentage: -11.6%

Median Household Income: $60,337

Fun Fact - Current Highest Detailed Industry Increase for Employment (RSE): Therapists, 49.9%


Trailing Markets for Monthly Unemployment Rates in the United States




The 7 Markets Thriving Most in Employment Recovery


7. Kansas City, MO-KS

Unemployment Rate (as of March 2021): 4.2%

Recent Job Growth Percentage: -3.8%

Median Household Income: $45,376

Fun Fact - Current Highest Detailed Industry Increase for Employment (RSE): Textile Knitting and Weaving Machine Setters and Operators, 49.9%


6. Cincinnati, OH-KY-IN

Unemployment Rate (as of March 2021): 4.2%

Recent Job Growth Percentage: -4.7%

Median Household Income: $34,002

Fun Fact - Current Highest Detailed Industry Increase for Employment (RSE): Physicist, 48.7%


5. Atlanta-Sandy Springs-Roswell, GA

Unemployment Rate (as of March 2021): 4.1%

Recent Job Growth Percentage: -5.1%

Median Household Income: $56,618