ORLANDO, Fla. – Finding work depends largely on location and if you’re looking to find work in the City Beautiful, you’re in luck.
A 2019 WalletHub study ranks Orlando the third best city for jobs, after comparing 180 cities in the U.S.
The financial planning website ranked cities based on job market value and socio-economic factors. Job market value involved a number of factors, including employment growth, monthly average starting salary, overall job opportunities and other similar factors. The study also takes into account socio-economic details such as annual transportation costs, work and commute times and housing affordability. Cities were also scored for dating, family and recreation friendliness.
Orlando takes the top spot when it comes to job opportunities. The study’s methodology explains large growing cities have multiple job prospects and an economy built to continuously hire workers. Economists who contributed to the study determined Orlando’s standing by comparing the number of job openings to the city’s population in the labor force.
WalletHub doubled the weight of the job opportunity metric to determine a city’s ranking. Since Orlando ranks No. 1 in this category, it helped propelled it to its overall No. 3 ranking.
Orlando also takes the top spot for job security.
WalletHub compared the number of employees from year, to year and noticed most people stuck with a job and stayed in the workforce.
Orlando’s unemployment rate also contributed to its overall No. 3 ranking as it seems to consistently stay below the national average. According to the U.S. Bureau of Labor Statistics, Orlando’s last reported unemployment rate for June 2019 was 3.2%. The national unemployment rate was 3.7% for the same period.
Orlando also shows a promising workforce, as its access to internships ranks in the top 10. Job satisfaction and share of engaged workers also ranks in the top 20.
Such factors contributed to Orlando’s overall No. 1 job market ranking. When it comes down to the nitty-gritty of the workforce, Orlando outranks all 180 cities.
When it comes to its socio-economic ranking, Orlando just barely makes the top 50. Landing in the 48th spot, Orlando’s safety ranking, work time commute and jobs at risk for automation likely helped drag its overall score down.
According to WalletHub, more than half of the jobs in the City Beautiful are at risk of being replaced by automated technology or artificial intelligence. The study also reveals that it costs employees quite a bit to get to work and that drive times exceed the national average.
Housing costs and overall cost of living is what dragged Orlando’s socio-economic score down. The median annual income in Orlando is $47,577 with the monthly average starting salary hanging around $2,500. According to the Census Bureau, the state median income sits between $50,000 and $60,000, meaning Orlando doesn’t stack up to the state’s average. Though it’s likely a great city to work or find work, it’s not the most affordable to work in.
No matter the cost of living, Orlando still out other Florida cities. Miami is the next ranked Florida city, ranked 31. Tampa, Fort Lauderdale and Jacksonville also rank in the top 50. Tampa is the top ranking Florida city when it comes to the study’s socio-economic ranking.
To see where other cities rank, click here.