As if you needed another reason to leave New York City.
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The US has seen notable job growth recently, with over 263,000 new jobs in April alone and the lowest unemployment rate since December 1969. However, not every city and state is enjoying a booming job market, which is why the finance nerds over at WalletHub compiled labor data from all 50 states to create an official ranking of the Best and Worst States for Jobs.
So where does New York state land? No. 20.
WalletHub’s survey provides a job market ranking (for which the state lands at No. 8) and an overall ranking that combines job market data with “economic environment” statistics, offering insight into how a state handles their labor force.
Researchers compared several economic factors, giving slightly more weight to facets that heavily influence a job seeker’s decision to settle somewhere, such as median annual income, state-income tax and job security, and less weight to variables such as job satisfaction and employee benefits — which are important, but usually not enough to deter someone from looking for work.
New York does top a few of their lists: The state comes in at No. 5 for the “longest time spent commuting” and is dead last for “lowest median annual income.”
And if you think it’s just a state-level issue, think again. WalletHub’s Best Cities for Jobs ranking released earlier this year places New York City all the way down at No. 85 overall, with a job market rank also at 85th and a socio-economics rank of 86th. Out of the 182 cities on the list, Rochester, Yonkers and Buffalo also make the cut at Nos. 146, 149 and 155, respectively.