Over recent years, Charlotte’s population has been soaring, making it one of the fastest growing cities in the nation. Professionals from around the country are flocking to Charlotte because it is brimming with opportunity. The strong economy has drawn in new businesses, and they all need talented employees to support their operations. If you are looking for a job, here’s why moving to Charlotte could be a smart move.
Why Is Charlotte Such a Great Move?
1. Economic Growth
Over the course of 10 years, Charlotte’s GDP rose by nearly 27 percent. The growth rate outpaced many other major cities, including New York City, Los Angeles, Denver, Boston, San Francisco, and Atlanta.
If the Charlotte metro area was a country instead of a city, it’s GDP would be considered the 60th largest economy on the planet, coming above countries like Morocco and Angola.
Eight Fortune 500 companies have their headquarters in Charlotte, along with 16 Fortune 1000 companies. Plus, many other businesses are exploring the potential of Charlotte, and that could bring in even more growth and opportunities.
2. Job Opportunities
Charlotte has experienced major job growth in a variety of sectors. Professionals in nearly any field can find an opportunity in the larger metro area as the growing industries are incredibly diverse.
Over an eight-year span, agriculture and mining grew by 282 percent. Education and health care increased by 58.5 percent, while arts, entertainment, and food services rose by 68 percent. Three other sectors – professional and scientific management; public administration; and finance, insurance, and real estate – all added jobs as well, coming in with growth rates of 48.5 percent, 58 percent, and 18.4 percent, respectively.
When a sector grows, new employment opportunities are created within them. While the workforce also grew during that period, rising by 39.7 percent, unemployment is still low (3.3 percent as of April 2019, lower than the national average of 3.6 percent in May 2019) and demand for skilled professionals remains high.
3. Higher Salaries
The median household income in Charlotte outpaced many other nearby metro areas. Charlotte came out above Memphis, Miami, Orlando, New Orleans, and Charleston.
Plus, the income growth rate also outpaced many other cities, including Atlanta, Las Vegas, and Knoxville. The number of households earning over $200,000 similarly outpaces other metro areas, including San Antonio, Indianapolis, and Portland.
4. Cost of Living
In comparison to many other metro areas, Charlotte is very affordable. Housing costs are far below cities like San Jose, Los Angeles, Baltimore, and New York City, and slightly lower than Miami, Austin, and Phoenix. The overall cost of living is also lower, making Charlotte a less expensive place to live than many comparable cities.
Looking For A Great Job?
Ultimately, Charlotte is an excellent choice for any professional interested in relocating. If you would like to learn more about Charlotte job opportunities, the team at TRC Staffing Services can help. Contact us to speak with one of our recruiters today and see how our services can help you find your ideal job in Charlotte.