Phoenix is top city swiping jobs from Wall Street

 

 

 

 

 

 

 

Never interrupt someone doing what you said couldn’t be done.

Amelia Earhart

 

Tim Gallen Reporter- Phoenix Business Journal UPDATED: Jun 30, 2014, 7:13am MST

Phoenix is the No. 1 city for swiping financial jobs from the big boys on Wall Street, according to Forbes.

Financial jobs in Phoenix have increased by 12.3 percent since 2008, according toForbes‘ analysis of data from the U.S. Bureau of Labor Statistics.

In 2013, Phoenix’s financial services sector employed 165,100 and posted a healthy 7.2 percent job growth.

Most of the top cities for financial job growth are in the Sun Belt, with San Antonio and Austin behind Phoenix as Nos. 2 and 3, respectively.

Forbes cited factors such as affordable housing and low to no state income taxes as reasons for the growth in financial jobs.

To read more about Forbes‘ list and methodology, click here.

 

 

The Cities Stealing Jobs From Wall Street

When we think about American finance, the default image is of a pinstriped banker on Wall Street. But increasingly financial services is shifting away from the traditional bastions of money.

In an analysis of recent and longer-term employment trends, we have identified the large cities –those with over 450,000 jobs – that are gaining jobs in financial services, a sector that employs 7.9 million people nationwide.  Overwhelmingly, the fastest growth has been in cities not associated with high finance, but largely low-cost Sun Belt cities, which account for seven of the top 10 large metro areas on our list.

In first place: Phoenix-Mesa-Glendale, Ariz., where financial employment has expanded 12.3% since 2008 and a remarkable 7.2% last year. Close behind in second through fourth are San Antonio-New-Braunfels, Texas, Austin-Round Rock-San Marcos, Texas, and Nashville-Murfreesboro-Franklin, Tenn. These metro areas have advantages beyond just warmer weather; all are places with affordable housing and no state income taxes.

READ MORE

http://www.forbes.com/sites/joelkotkin/2014/06/27/the-cities-stealing-jobs-from-wall-street/

 

 

 

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