“Arizona’s projected job growth is 3.1% annually though 2019, best in the U.S., according to forecasts from Moody’s Analytics”
Arizona has emerged as the best state for future job growth in America.
“Baby boomers retiring to Arizona is the main driver for Arizona’s employment growth,” says Kyle Hillman, an economist at Moody’s focused on Arizona. This migration fuels jobs in healthcare and consumer services. Net migration into the state is projected to total 679,000 over the next five years. Only Nevada is expected to enjoy a faster migration rate.
Companies and workers are also finding their way to Arizona as a more affordable option to West Coast locales like the Bay Area and Seattle. The state offers a diversified economy with a skilled workforce.
Financial service firms have a heavy presence in Arizona with Wells Fargo and Bank of America among the 10 largest private employers in the state. In February, Northern Trust announced plans to expand in Arizona by opening a new operating center in Tempe that will house 1,000 employees by 2018. “This step will provide us with access to significant talent pools and a strategic location that will help us efficiently serve our clients,” said CEO Frederick Waddell in a statement announcing the news.
General Motors opened a software-development center last year in Chandler, Ariz. with 500 employees and plans to add another 500 workers over the next three years. Many of the coders and engineers will be drawn from nearby Arizona State University.
Nevada, Florida, Utah, and Georgia round out the top five, respectively.
Read the full article here.