CommunityLocal BusinessStacy M. Brown

Jobs Abound in D.C., Study Shows

For those seeking employment in the District, a simple google search could yield exactly what you’re looking for — be it temporary work or a career.

A Google search with the key words, “jobs” and “Washington, D.C.,” immediately reveals that there are more than 72,000 job listings on Monster.com; at least 10,000 open positions on Careerbuilder.com; and 5,000 job listings on LinkedIn. The D.C. Department of Human Resources also lists numerous opportunities.

The District is tied with Silicon Valley cities such as San Jose, Freemont and San Francisco for those with the highest average monthly salaries for employees, according to the most recent study by District-based personal finance website WalletHub.

For the survey, WalletHub compared 182 cities — including the 150 most populated U.S. cities, plus at least two of the most populated cities in each state — across two key dimensions, “Job Market” and “Socio-economics.”

They assigned a heavier weight to the former, considering that factors in that category most heavily influence a job seeker’s decision in terms of relocation for employment.

Study authors then evaluated the two dimensions using 30 relevant metrics, including job opportunities, employment growth, monthly average starting salary and employment outlook.

Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for job seekers.

Finally, they determined each city’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order each.

Overall, the WalletHub survey ranked D.C. as the eighth-best city to find a job.

Scottsdale, Arizona, topped the list followed by Columbia, Maryland; Orlando, Fla.; San Francisco; Colorado Springs, Colorado; Portland, Maine; Plano, Texas; and Washington, D.C.

Boston and Chandler, Arizona, rounded out the top 10.

“As long as current regulations stay in place, perhaps a trade deal with China goes more free, pro free market judges are elected, the job market will remain where it is now, which is in a very good shape,” said Miren Ivankovic, a WalletHub expert and Clemson University adjunct professor.

When asked what fields are expected to grow the most in the coming years, Ivankovic said, “it seems in the private sector, like health care, service sector, but also in manufacturing.”

“The U.S. is well positioned in the domestic and global markets in certain industry segments, like automotive, but those jobs will require specific skill sets and work force will have to obtain them in order to remain competitive,” Ivankovic said.

For the state of Maryland, predictions are for a fairly strong economy — about 58,000 jobs for 2019, said Daraius Irani, a WalletHub expert and vice president of strategic partnerships and applied research and chief economist of the Regional Economic Studies Institute at Towson University.

“But expect to see minor job losses in 2020 of about 2,000 and accelerating in 2021 to about 19,000 given current conditions,” Irani said.

Those current conditions include rising interest rates, uncertainty around tariffs, a divided federal legislative body, declining equity markets, uncertainty in the retail sector, a slowing housing market and falling oil prices which is bad for domestic producers, Irani said.

“While the current federal administration is actively pursuing a policy of deregulation as it pertains to the environment as well as a pro business tax reform, these policies have encouraged job growth and investment in extractive industries which does not have a large presence in Maryland,” Irani said.

The trade polices promulgated by the administration could have opposing effects — those domestic industries that are dependent on imports for their intermediate production goods face both uncertainty as well as rising costs which despite the rhetoric will be borne partially or fully by households, he said.

“There may be associated job losses in these sectors as companies try to manage the uncertainty and cost structures,” Irani said, adding that a recent example is General Motors’ decision to rebalance its production portfolio, citing rising cost of raw materials as one reason.

“Those domestic industries that compete with imported raw materials such as steel and aluminum will likely see enhance opportunities,” Irani said. “It is unclear whether the job losses and the job gains cancel or result being negative or positive. However, most economists believe that there will be job losses associated with these policies.”

To view the full report, go to wallethub.com.

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Stacy M. Brown

I’ve worked for the Daily News of Los Angeles, the L.A. Times, Gannet and the Times-Tribune and have contributed to the Pocono Record, the New York Post and the New York Times. Television news opportunities have included: NBC, MSNBC, Scarborough Country, the Abrams Report, Today, Good Morning America, NBC Nightly News, Imus in the Morning and Anderson Cooper 360. Radio programs like the Wendy Williams Experience, Tom Joyner Morning Show and the Howard Stern Show have also provided me the chance to share my views.

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