Posted by Brian McCullough
Back in January I pointed out some data that seemed to suggest where in the country the job market was still holding up.
In this weekend’s New York Times, there was the usual hand wringing article suggesting that maybe the job market has turned nasty.
But right next to the article (if you follow the link, scroll down, you’ll see a graphic on the left under the category MULTIMEDIA… the link is called Job Gaines, Job Losses) there was a nifty map of the US with a graphical representation of those areas of the country that have seen job growth, versus those that have seen job shrinkage.
The conclusion to draw from the graphic?
It looks like job growth is continuing strongly in some parts of the Sunbelt (Florida) and most of the southwest and mountain west. If you’re in the Rustbelt or the Midwest, things are dire indeed.
But here’s my question. The Sunbelt… the Southwest… Colorado… Those locales are exactly the same places the have been ground zero for the worst of the housing bubble bursting. If these are the areas of the country hardest hit by the coming recession, are these really the best areas to look for jobs?
I have family in Florida. Not only are restaurants closing up, office spaces going vacant (not to mention entire subdivisions) but the job market is so bad, Mexican immigrants are actually returning home. No joke. The sudden out flux of people is so severe that the school district my nephews attend went from planning 8 new school construction projects to a complete building moratorium. This is unheard of in a growth state like Florida.
My point is… if the economy indeed worsens, I wonder if going to where the bubble has burst hardest is really a good idea if you’re looking for a job.