Providence Ranks Last in New Job Creation
Thursday, March 29, 2012
Providence ranked dead last with the lowest score on Gallup's Job Creation Index among the 50 largest U.S. metro areas in 2011.
While cities like Oklahoma City, Pittsburgh, and Richmond led the United States in job growth, Providence scored the lowest of the top 50 metro areas. Oklahoma City's score was a net score of 25 which is calculated in the Gallup measure by measuring the percentage of companies hiring (37%) and deducting the percent letting people go (12%).
Pittsburgh, Richmond and the Nashville-Davidson metro area each ranked 2nd with a score of 22%.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTProvidence was ranked lowest with a score of 5% (27% hiring and 22% letting go). Riverside metro area in California ranked second lowest with a net score of 6%.
The results are based on Gallup Daily tracking interviews with U.S. workers conducted from January-December 2011. Gallup interviewed at least 698 respondents in each of the 50 largest metro areas in 2011, including 1,000 or more in 38 metro areas. Nationwide in 2011, an average of 31% of U.S. workers said their employer was hiring, while 18% said their employer was letting workers go, for a U.S. Job Creation Index score of +13.
According to Gallup:
Gallup's Job Creation Index tends to be a strong predictor of jobless claims at the national level, and these results at the local level may also be an indicator of future local unemployment rates. The top five large metros in Gallup's Job Creation Index for 2011 had an average unemployment rate of 7.4% in January 2012, according to not-seasonally adjusted data from the U.S. Bureau of Labor Statistics, while the bottom five large metros' unemployment rates averaged 10.7%.
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