3 Cold Weather States With the Most Jobs and Biggest Salaries
Written by
Yaël Bizouati-Kennedy
Edited by
Cory Dudak
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While southern states — such as Florida — have seen explosive migration growth in recent years, the heat is on for cold states in terms of job opportunities and high wages.
The new National Business Capital study — “Top U.S. States For Job Growth 2024” — found that job opportunities in these states are not just plentiful, but also tend to come with higher wages which often exceed the cost of living.
Indeed, the study found unexpected job growth in states such as Minnesota and Alaska — which takes the No. 1 spot.
Brian Chevalier-Jordan, chief marketing officer for National Business Capital, deemed the findings “very much an eye-opener.”
“With all the talk about inflation and wages not keeping up, finding so many states where wages are actually growing faster than prices was a pleasant shock,” said Chevalier-Jordan. “Sure, national averages hint at real wage increases, but digging deeper into the data and seeing it play out in industries like education, healthcare and advanced manufacturing was really gratifying. It’s not every day you see job growth and higher wages walking hand-in-hand.
He also noted that, as the work from home trend is here to stay, people are ditching city skyscrapers for a more affordable lifestyle a few hours away.
“New Hampshire and Maryland are becoming the cool alternatives to Boston and D.C.,” he added.
Job Growth in Mining, Agriculture and Natural Resources
According to Chevalier-Jordan, cold weather aside, these top states with job growth are all about mining, agriculture and resource extraction.
“Alaska, Minnesota, and Wyoming have been champions in these areas,” he said. Education and healthcare are booming in Massachusetts, New Hampshire and Maryland, while manufacturing and construction are fueling growth across the board — but particularly in the states highlighted in the report, he added.
“Government’s investments in areas like bridge and road repairs or solar energy are driving job growth, and the wages are well above average,” he said.
The study was based on five metrics: state job opening rate, annual mean salary, change in nonfarm employment, employment rate and median household income.
Here are the top three states for job growth in 2024:
Alaska
According to the study, the state has a job opening rate of 7.6% (No. 2), strong average salaries and the median household income rests in the 11th spot. The state offers particularly high wages to medical professionals, architects, engineers and oil workers.
“Alaska has always been a destination for risk-takers, now it seems it’s also a destination for job creators,” said Chevalier-Jordan.
Maryland
The study found that Maryland is “a great place to be employed,” and with an employment rate of 63.7% (No. 10), it’s relatively good at providing jobs for its population.
Minnesota
Minnesota has one of the highest employment rates in the country at 65.7% (4th), with fairly good compensation (13th in mean salary and in median household income). While the state’s economy has shifted toward service industries in recent years, manufacturing and agriculture remain important industries.
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