The Nashville job market has fluctuated over the past few years but remains one of the healthiest job markets in the country. Although Nashville may be known for its music, the most bustling industry in Tennessee is healthcare. Nashville also maintains the lowest unemployment rate in the United States. Now is one of the most appealing times to move to Nashville for work.
The current state of the Nashville job market
With the lowest unemployment rate in the United States, paired with the fact that the rate continues decreasing, Nashville is beginning to draw in talent from throughout the nation. Employment in Nashville had staggering growth at a rate of 4% from May 2016 – May 2017, which is the fastest growth rate for a metropolitan area with 1 million or more residents. Nashville is also beginning to be seen as a hub for small businesses owned by millennials and women. Continued growth is seen in major industries throughout Nashville, including a blossoming startup tech industry.
There is, however, a need for more business professionals in Nashville. Currently, Nashville lacks people talented in IT, finance, programming, software engineering management, accounting, and consulting. Positions in these fields are available throughout the major industries of Nashville, especially in healthcare, automotive production, and finance.
Currently, the restaurant industry is struggling the most in Nashville. Restaurants are plagued by not only a labor shortage, but also a high turnover rate. Open positions are not being filled, and those that are being filled quickly become open again. This can be an opportunity for hospitality workers, but indicates some level of turmoil within the Nashville hospitality industry.
Best industries to work in Nashville
The largest industries within Nashville are healthcare, automotive, finance, and technology manufacturing. These industries overlap with some of the most scarce skills in Nashville – IT, finance, and accounting. Workers in these fields will have less trouble finding a job in Nashville, especially with the low unemployment rate and high demand.
Nissan North America, Hospital Corporation of America, Kroger, and Vanderbilt University all have a massive influence on the Nashville market. The size of the healthcare industry can be attributed almost entirely to the Hospital Corporation of America and Vanderbilt University, while Nissan North America is the reason that the automotive industry is so large in Nashville.
If last year is any indicator for the growth of Nashville, the job market will be healthy for years to come. Individuals in the IT, finance, and accounting industries can seek to gain the most from Nashville’s growth, but anyone interested in healthcare, technology, or the automotive industry will be able to find open positions. Nashville’s low unemployment rate and a flourishing job market make it a desirable place to live. If you’ve considered moving to Nashville, now may be the best time to do so.