Ben Bernanke created money continues to find its way into Silicon Valley. It continues as the fastest growing employment region among large metropolitan areas.
The Bureau of Labor Statistics is out with new data that shows the largest over-the-year percentage decreases in employment occurred in Salisbury, Maryland (−3.1 percent), Palm Coast, Florida (-3.0 percent), and Poughkeepsie-Newburgh-Middletown, New York (−2.0 percent).
In December 2013, 294 metropolitan areas had over-the-year increases in nonfarm payroll employment, 67 had decreases, and 11 had no change.
Over the year, nonfarm employment rose in 36 of the 37 metropolitan areas with annual average employment levels above 750,000 in 2012.
The largest over-the-year percentage increase in employment in these large metropolitan areas occurred in San Jose-Sunnyvale-Santa Clara, California (+3.4 percent), followed by Orlando-Kissimmee-Sanford, Florida (+3.1 percent), and Houston-Sugar Land-Baytown, Texas, and Tampa-St. Petersburg-Clearwater, Florida (+3.0 percent each). The only large area that had an over-the-year percentage decrease in employment was Cleveland-Elyria-Mentor, Ohio (−0.6 percent).
Cool interactive chart here.
Reprinted with permission from Economic Policy Journal.