Plano is the top place to be if you’re looking for a job in 2016, according to a new study published today by WalletHub. The money-management website ranked the Texas town No. 1 for employment, while Irving got the runner-up spot.
WalletHub compared 150 of the most populated cities across 17 key metrics, including job opportunities, employment growth and starting salary. Plano ranked highly in median annual income (second) and house affordability (first).
WalletHub analyst Jill Gonzalez points out that Plano is home to many companies, like Cinemark Theatres, Dell Services, Ericsson, Frito-Lay, HP, J. C. Penney, Pizza Hut, Rent-A-Center and Toyota Motors USA. Jill tell us that Plano ranked second for the Job Market key dimension, having a steady annual employment growth at 3.51% and the 10th-best monthly starting salary in the country at $3,043. Its unemployment rate is better than the national average at just 4.5%—"full employment" by the Fed's standards.
“When it comes to the socioeconomic environment, Plano ranked eighth-best overall, with the second-highest annual household income at $83,697. Combined with the low cost of living, it's easy and affordable for residents to buy or rent property," says Jill.
The city is just plain good for business.
Houston was ranked the No. 1 place to be for the highest starting salary. (Dallas was No. 5.) Amarillo was ranked fifth for having the lowest employment rate.
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