Two maps showing trends that should be of interest to recent college graduates
With unemployment at historically high levels, it’s critical to know which industries and occupations will be in demand in the future….
Some fields of projected strong job growth are health care, medium-skill jobs (not requiring a college degree), leisure and hospitality, professional and business services, technology and information services, and business and financial operations.
Of the ten largest metropolitan areas, the three with the fastest real GDP growth in 2012 were San Francisco-Oakland-Hayward, CA (7.4 percent), Houston-The Woodlands-Sugar Land, TX (5.3 percent), and Dallas-Fort Worth-Arlington, TX (4.3 percent).3 The ten largest metropolitan areas, accounting for 34 percent of national GDP, averaged 3.1 percent growth in 2012 after growing 1.9 percent in 2011.
The resurgent oil and gas industry helped two Texas areas — Midland and Odessa — rank No. 1 and No. 2 in economic growth for U.S. metro areas in 2012 …
Most Texas metro areas ranked in the top tier of growth: between 3.3 percent and 14.4 percent. In addition to Midland and Odessa, other Texas metro areas, such as Corpus Christi, Laredo, Longview and San Angelo saw significant growth from the oil and gas industry.
Boom and bust
The boom and bust nature of the oil business should be a cautionary tale for anyone who expects these high growth rates to persist. Earlier this year the announcement of a new 53-floor building planned for Midland was greeted with some cynicism, and reminders that the Petroleum Building in downtown sat empty for many years during 1930s. The rumor I always heard when I lived there was that this building was used to store hay during those lean years. Optimists say this time will be different “because of technological advancements, particularly for unconventional oil and gas”. It’s hard to know, but I wouldn’t count on it.