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Raleigh economy continues hot streak

For the second month in a row Raleigh, NC, is the fastest growing job market among large metropolitan areas, according to new data released today by the Bureau of Labor Statistics.

Year-over-year job growth in Raleigh was 3.7% in December, ranking first among metropolitan areas with employment of 500,000 or more. Raleigh finished the year with a net gain of about 23,000 jobs, pending a revision to the estimates expected next month by BLS. Rounding out the top five large metros were: Austin (3.5%), Dallas (3.4%), Orlando (3.3%), and San Antonio (3.2%). Nashville was at 1.7%, up by about 18,000 jobs on the year, pending the revision.

There were three large metros posting declines in December: Grand Rapids, Hartford, and Memphis.

At the state level Utah led the way in December at 3.3%, followed by Arizona (2.9%), Idaho (2.9%), Texas (2.7%), and Washington (2.5%). Wyoming, West Virginia, Vermont, and Oklahoma were in negative territory in December for the second month in a row.