ANN ARBOR – The COVID-19 pandemic caused millions of workers to lose their jobs and the country’s unemployment rate to soar to a record high of 14.7% in April 2020.
In June 2021, the unemployment rate fell to 5.9% as many Americans reported career changes.
In response to these changes, financial technology company SmartAsset released a list identifying the top metro areas in 2021 for career opportunities.
The company examined 200 metro areas considering the following factors to determine their rankings:
- Employment rate
- Median income
- Income growth
- Annual housing cost
- Number of career counselors
- Number of post-secondary teachers
Ann Arbor came in at No. 4 on the list.
“Home to the University of Michigan, Ann Arbor has the most post-secondary teachers per 1,000 workers (87.67) and the 45th-most career counselors per 1,000 workers (2.61),” wrote SmartAsset.
“Ann Arbor’s 4.0% unemployment rate ranks 40th-lowest out of the 200 metro areas that were examined, while its income growth over time (24.90%) is 11th-highest in the study.”
Here are the top 10 best metro areas for employment opportunities in 2021, according to the rankings:
According to SmartAsset, Ann Arbor’s median income in 2020 was $47,230. The city’s average income growth over career was one of the highest of any city at 24.90%.
SmartAsset used data from the Bureau of Labor Statistics and the Census Bureau’s 2019 5-year American Community Survey to determine the rankings.
To see the full study, click here.