{"id":1600,"date":"2023-07-14T09:58:28","date_gmt":"2023-07-14T04:58:28","guid":{"rendered":"https:\/\/www.peaksalesrecruiting.comblog\/states-with-the-best-worst-job-markets-as-economy-strengthens\/"},"modified":"2025-08-11T11:55:41","modified_gmt":"2025-08-11T15:55:41","slug":"states-with-the-best-worst-job-markets-as-economy-strengthens","status":"publish","type":"post","link":"https:\/\/www.peaksalesrecruiting.com\/blog\/states-with-the-best-worst-job-markets-as-economy-strengthens\/","title":{"rendered":"States With the Best & Worst Job Markets as Economy Strengthens"},"content":{"rendered":"

For the first time in a long time, there is cautious optimism about the U.S. economy. It is being fueled by a strong labor market. In May, 339,000 jobs were added \u2013 nearly double projections \u2013 and while that cooled to <\/span>209,000<\/span><\/a> new jobs in June, many experts are predicting a soft landing for the economy instead of a recession.<\/span><\/p>\n

The number of open jobs sits at 9.8 million. At a time when quit rates are declining, this signifies that the labor market is strengthening, and companies are looking to expand and hire as many workers as they can. It also means job seekers have more choices and opportunities.\u00a0<\/span><\/p>\n

Recent data from the <\/span>Bureau of Labor Statistics<\/span><\/a> sheds light on the country\u2019s most in-demand sectors. Notably, most of the recent hires were in professional and business services (64,000); professional, scientific and technical services (43,000); government (56,000) and health care (52,000).<\/span><\/p>\n\n<\/picture>\n\n

\"\"\n<\/picture><\/p>\n

Leverage Between Employers and Employees<\/b><\/h3>\n

The ongoing fight for leverage betweens employers and job seekers remains a complex and rapidly evolving issue. The labor market during and following the global pandemic was largely defined by \u201cThe Great Resignation.\u201d A <\/span>record 50 million<\/span><\/a> people quit their jobs in 2022, breaking the previous record set in 2021.\u00a0<\/span><\/p>\n

With so many unfilled jobs, job seekers had historic leverage and employers had to roll out the red carpet and acquiesce to worker-friendly policies such as higher pay and the ability to work remotely.\u00a0<\/span><\/p>\n

The most recent federal data shows the <\/span>Great Resignation<\/span><\/a> has come to an end with national quit rates falling to 2.4% in March, just .1% higher than in February of 2020. To be clear, lower quit rates do not equate to the strengthening of the economy \u2013 in fact it is quite the opposite.\u00a0<\/span><\/p>\n

A <\/span>BLS report<\/span><\/a> notes, \u201cQuit rates tend to rise during expansions, when workers\u2019 prospects for finding a better job brighten.\u201d The <\/span>Roosevelt Institute<\/span><\/a> also notes higher quit rates <\/span>represen<\/span>t, \u201cA necessary reshuffling of jobs leading marginalized workers to pursue better working conditions and wages.\u201d<\/span><\/p>\n

But what the return to pre-pandemic quit rates may signal is that employers are regaining some leverage. We are seeing many of them attempt to exercise that leverage by ending another pandemic workplace trend \u2013 working from home.\u00a0<\/span><\/p>\n

Many Fortune 500 companies such as <\/span>Disney and JP Morgan<\/span><\/a> are mandating that employees return to the office. Even Big Tech companies like <\/span>Meta and Google<\/span><\/a> \u2013 who were the ones who introduced remote work and extravagant workplace perks in the first place\u00a0 \u2013 are now opting for a return to work or a hybrid model.\u00a0<\/span><\/p>\n

However, employers must not get too complacent. Projections from the <\/span>World Economic Forum<\/span><\/a> indicate that over the next five years, approximately 17% of North American workers are expected to switch jobs. This trend is even more pronounced within the business development sector. In the current climate, a company\u2019s ability to recruit and retain top talent is critical to success.<\/span><\/p>\n

Purpose of the Study and How We Determined The Rankings<\/b><\/h3>\n

As a whole, things are looking up for business owners and American workers across the country. But the dynamics between employers and employees continues to be in flux as the economy attempts to recover and enter a long awaited period of prosperity.\u00a0<\/span><\/p>\n

As experts in B2B sales recruiting, Peak Sales Recruiting has conducted extensive research on the labor market at large to <\/span>inform business owners, entrepreneurs and job seekers about the state of the labor market in their area.<\/span><\/p>\n

It is critical to understand the rapidly changing landscape in the state that you reside in order to achieve success.\u00a0<\/span><\/p>\n

To determine which states have the strongest labor markets we analyzed the most recent data from BLS. We factored in positive indicators such as employment, wage growth, labor productivity, quit rates (higher rates means the labor market is expanding) and job openings (a sign that employers are looking to expand their businesses). We also factored in negative benchmarks such as layoffs and underemployment.\u00a0<\/span><\/p>\n

A Few Key Findings:<\/b><\/h3>\n