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Tampa Is 8th Best City for Young People to Find Jobs

Posted on October 31, 2012

Professionals in the Tampa real estate market should continue learning about working with millennials, as the Tampa job market continues to attract young people.  Tampa has recently been cited as the 8th best city in the U.S. for millennials to find good jobs in 2012, based on a survey conducted by PayScale, a company that provides compensation information, research results and insights.

This particular study was conducted from July 2011 to July 2012 involving 500,000 millennial workers.  Millennial workers are also called Generation Y workers.  They range in age from 19 to 29 years, or those born within the years 1982 to 1993.

Among the questions or data provided by survey participants were total cash compensation, job satisfaction, flexible schedule, stress levels, wage change, employer score, commute time, and environmental score.

Tampa is the only Florida city in the Top 10 in this survey.  The next ranking Florida city, Miami, is in 18th place.

Here are the 10 Best Cities in the U.S. for millennials to find jobs or to get employed:

Rank   City Millennial City Score
1.   Seattle, Washington 1.61
2.   Houston, Texas 1.52
3.   Minneapolis, Minnesota 1.46
4.   Washington, D.C. 1.25
5.   Boston, Massachusetts 1.16
6.   Dallas, Texas 1.11
7.   New York City, New York 1.04
8.   Tampa, Florida 0.83
9.   Philadelphia, Pennsylvania      0.81
9.   San Francisco, California 0.81

Seattle had the best pace of improvement in compensation over the period from the second quarter of 2009 to the second quarter of 2012, posting a 4.4-percent increase in earnings over the period.  Here is how the Top 10 Cities scored in Wage Change Over time:

1.   Seattle, Washington 4.4%
2.   Houston, Texas 4.3%
3.   Minneapolis, Minnesota 3.3%
4.   Boston, Massachusetts 3.3%
5.   Washington, D.C. 3.2%
6.   Dallas, Texas 2.9%
7.   New York City, New York 2.9%
8.   Tampa, Florida 2.7%
9.   Philadelphia, Pennsylvania      2.6%
9.   San Francisco, California 2.6%

In the above wage change ranking, San Francisco is last, but in a ranking based only on median pay for Generation Y workers, it is Number One, as shown in this median pay table, which shows the total cash compensation earned by workers over the one year period ended July 2012.

1.   San Francisco, California $51,300
2.   Washington, D.C. $49,500
3.   New York City, New York $46,900
4.   Boston, Massachusetts $46,200
5.   Seattle, Washington $44,000
6.   Houston, Texas $44,000
7.   Minneapolis, Minnesota $42,800
8.   Philadelphia, Pennsylvania      $42,000
9.   Dallas, Texas $41,200
10.   Tampa, Florida $36,600

In the above ranking, Tampa posted the least median pay, but among these Top 10 cities, Tampa also had among the least median home prices, among the least costs of living, and the least taxation costs.  The pace of increase in private-industry earnings in Tampa also surpassed that of  San Francisco, which  posted the highest median pay over the study period.  Other recent U.S. metropolitan studies also cited Tampa for its rising employment growth rate.

WHY TAMPA FLORIDA?

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