BEST CITIES
1. Cape Coral, FL
Metro area population: 591,000
5-year annualized job growth: 5.4%
The housing boom created jobs and attracted people, as Cape Coral-Fort Myers metro area had the country's second-highest net migration since 2003. The new reality: The area had the highest foreclosure rate in the U.S. in February.
2. Las Vegas, NV
Metro area population: 1,847,000
5-year annualized job growth: 5.1%
Sin City makes its living on casinos, conventions and tourism. You can throw housing in there too, which boomed as people flocked to the area. Yet 2007 had a 6.5% drop in home prices, and foreclosures hit 4.2% of homes.
3. McAllen, TX
Metro area population: 716,000
5-year annualized job growth: 4.7%
The North American Free Trade Agreement has helped this Mexican border area explode. Numerous big multinationals like General Electric, Motorola and Sony set up operations in the region. One drawback: Only 13% of the adult population has a college degree.
4. Port St. Lucie, FL
Metro area population: 404,000
5-year annualized job growth: 4.5%
Housing prices in the area more than doubled between 2002 and 2005, but in 2007 the median home price fell 12% to $223,000. It was the sixth-biggest drop in the country.
5. Naples, FL
Metro area population: 320,000
5-year annualized job growth: 4.5%
The Naples metro area has the priciest homes in the country outside of California, Honolulu and New York City. But the median sale price fell 3% last year to $500,000, and more declines are probably on the way.
6. Ocala, FL
Metro area population: 331,000
5-year annualized job growth: 4.4%
Marion County is one of the centers of the world for thoroughbred horses, with over 1,200 horse farms. It is the birthplace of Affirmed, the last horse to win racing's Triple Crown in 1978.
7. Riverside, CA
Metro area population: 4,121,000
5-year annualized job growth: 4.3%
The Riverside economy has been rolling in recent years, with both strong job and income growth (4.9% annually the past five years). Rising living costs are a concern, as they are now 19% above the national average.
8. Provo, UT
Metro area population: 483,000
5-year annualized job growth: 4.2%
Provo's job surge was not housing-related. While job growth in housing-boom towns across the U.S. tapered off in 2007, Provo had the highest employment growth in the country, at 5.5%.
9. Myrtle Beach, S.C.
Metro area population: 248,000
5-year annualized job growth: 4.2%
While jobs have been plentiful in the Myrtle Beach metro area in recent years, the pay has not been so hot. Household incomes have barely budged since 2001 and averaged $38,800 in 2007.
10. Phoenix, AZ
Metro area population: 4,158,000
5-year annualized job growth: 4.1%
People have been flocking to Phoenix to take advantage of the strong housing and job market. There has been a net inflow of 446,000 people to the area over the past five years.
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WORST CITIES
1. New Orleans, LA
Metro area population: 1,093,000
5-year annualized job growth: -3.8%
The jobs are slowly starting to come back to New Orleans as it recovers from the devastating effects of Hurricanes Rita and Katrina. The area added 20,000 jobs last year, but that is still 115,000 below the level in 2004.
2. Detroit, MI
Metro area population: 1,946,000
5-year annualized job growth: -1.5%
The declining job situation in Detroit is fueling a host of other problems: Crime rates are the eighth highest in the country, and net migration is second worst. The latest problem is foreclosures, which hit 4.9% of homes last year, highest in the country.
3. Flint, MI
Metro area population: 441,000
5-year annualized job growth: -1.4%
The effects of the declining auto industry on Flint were made famous in the 1989 movie Roger & Me by Flint native Michael Moore. Unemployment climbed to 8.5% last year, the highest level since 1994.
4. Canton, OH
Metro area population: 410,000
5-year annualized job growth: -1.1%
Major employers like Hoover, LTV Steel and Timken have shut down plants or shifted jobs out of Canton during this decade. One employer sticking around is the Pro Football Hall of Fame, which opened its doors in 1963.
5. Warren, MIMetro area population: 2,510,000
5-year annualized job growth: -0.9%
Unemployment in the area has been on a steady climb, moving from 3.2% in 2000 to 6.8% last year. Warren joins Detroit and New Orleans as the three metros that have lost more than 50,000 jobs since 2002.
6. Hickory, N.C.
Metro area population: 363,000
5-year annualized job growth: -0.8%
The Hickory area has a large base of furniture and fiber-optic-cable manufacturers, which benefit from business costs 20% below the national average. Yet job and income growth has been anemic in recent years.
7. Lansing, MI
Metro area population: 455,000
5-year annualized job growth: -0.8%
Michigan's capital is the birthplace of basketball star Magic Johnson and screen star Burt Reynolds. Big employers in the area include Michigan State University, General Motors, Sparrow Health and Meijer.
8. Dayton, OH
Metro area population: 839,000
5-year annualized job growth: -0.7%
The decline of the U.S. auto industry has hurt Dayton. Particularly vexing have been the problems at auto parts supplier Delphi, which has been one of the area's largest employers and is struggling to exit from bankruptcy.
9. Youngstown, OH
Metro area population: 586,000
5-year annualized job growth: -0.6%
Employment in Youngstown has been in a steady decline this decade, and 2007 was the worst year yet since 2000. Bruce Springsteen's song "Youngstown" focuses on the decline of the steel industry in the town.
10. Ann Arbor, MI
Metro area population: 348,000
5-year annualized job growth: -0.4%
The home of the University of Michigan features a highly educated workforce, with 48% of the adult population possessing a college degree, the third-highest rate in the country.
Best And Worst Cities For Jobs
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