Seattle, Washington, is quickly becoming the place to be for those who find themselves unemployed. The city saw its population expand by 3.3 percent in 2014, Marcus and Millichap pointed out in a report, and forecasts have it trending up in 2015 as well. This year, Seattle's economy should expand to add 65,000 jobs, according to the source. It will stifle the unemployment rate to below the national average of 5 percent, which it met in October, according to the Bureau of Labor Statistics.
It's the best in the Northwest
Seattle is by far the largest city in Washington, with a population of 608,660, according to the last national census, and has seen a steady population growth rate of 8 to 9 percent since the 1990s, the city website pointed out. The thriving area boasts the iconic Space Needle as its main tourist attraction, and robust management, business, science and arts sectors - all of which combine to employ 54 percent of their population, the source observed.
Since the study was first conducted 12 years ago by Dr. Jack Miller, president of Central Connecticut State University, the city has yet to fall out of the top five ranking of most literate cities in America, according to USA Today. While it was ranked second in 2014, the source explained that the fall to third place in 2015 doesn't signal a negative change.
Forbes observed a 12 percent growth in Seattle's technology industry over the past two years, and 43 percent over the last decade. That was good enough to rank first on Forbes list of best cities for tech jobs. It's obvious that low housing prices, as well as the presence of industry titans like Microsoft and Amazon, have made the rainy area a contender with other major cities like Palo Alto, California, and Houston, Texas.
"The job growth in Seattle is in a constant upswing," says Rikki Denniston, Division Director of Beacon Hill Financial in Seattle. "The problem is not enough jobs for people, but not enough people for jobs. It's a great time to be working in or just starting your career off in Seattle."
Seattle also boasts an expanding science, technology, engineering and math industry with a 7.6 percent gain over the past two years - a STEM growth that beats Silicon Valley's. Its success isn't just recent, as it's seen an 18 percent rise over the past decade as well, according to Forbes.
"A number of companies – Facebook and Google to name a couple – have recognized what Seattle has to offer in terms of the talent pool, while still being a more affordable option in comparison to California," Denniston notes. "With Amazon continuing to build out what is now millions in square footage for multiple office locations throughout downtown Seattle, and Microsoft being a consistent employer, we are attracting more and more technology companies as well as healthcare, research, and start-ups."
"Seattle has enjoyed job growth across the board in the past year."
While tech has played a role in the economic vitality, it's not the largest industry. Though its headquarters have moved to Chicago, Boeing once called the Emerald City home, and aerospace is currently one of the largest industries in the city, according to Forbes.
Seattle enjoyed growth across the board in the past year. Construction saw a whopping 9 percent increase in employment from 2014 to 2015, according to the BLS. Professional and business services, the second largest industry in the area, experienced a healthy 4 percent growth, while the government sector, which currently employs 269,400 people, saw a comparable 3.5 percent increase. Its financial activities industry, though not lauded, accomplished a 2.3 percent increase.
With its past success in mind, it is clear that Seattle has the infrastructure, amenities and job growth to sustain its recent prosperity. This burst in employment looks as though it will be here to stay, making Seattle an ideal city for anybody searching for employment.
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