These 8 States Have the Strongest Job Markets Right Now

The job market is particularly hot right now.

At 3.4%, the current unemployment rate is the lowest it's been in 50 years. To put that into perspective, between 1948 and 2023, the unemployment rate in the United States averaged 5.73%. 2023 has started off exceptionally well.

The Great Resignation lives on

The latest job numbers from the Bureau of Labor Statistics were published in November 2022. Based on those statistics, the Society for Human Resource Management (SHRM) reports that there's an interplay between hires, quits, and job openings. As the Great Resignation continues, there are more jobs to be filled.

We're not sure why so many people decided to leave their jobs. Some may have taken the opportunity to find a better-paying position, while others could have stocked enough away in their retirement accounts to call it a day.

The South has the highest percentage of workers bidding adieu to their jobs. The South is followed by the Midwest and the West, respectively. It's no coincidence that job openings in the South, Midwest, and West have grown significantly.

These eight states currently boast the strongest job markets as measured by the percentage of job openings throughout the state.

1. Louisiana: 8.5%

72,000 workers quit their jobs in November 2022, but the state ended the month with 180,000 job openings.

The top three job sectors by revenue are:

• Healthcare and social services
• Retail trade and accommodation
• Food services

2. West Virginia: 8.3%

West Virginia employers lost 24,000 workers in November 2022, which helped make way for 65,000 new jobs.

The top three job sectors in West Virginia are:

• Mining
• Healthcare and social assistance
• Manufacturing

3. Wisconsin: 8.1%

72,000 Wisconsinites left their jobs in November 2022, while 261,000 jobs opened up.

These are the top three job sectors in Wisconsin:

• Manufacturing
• Real estate, rental, and leasing
• Healthcare and social assistance

4. Alaska: 8.0%

13,000 workers walked out the door in November 2022, making way for 28,000 new job openings.

Here are the top three job sectors in the Last Frontier:

• Oil and gas
• Construction
• Healthcare

5. Georgia: 7.7%

173,000 Georgians said goodbye to old employers in November 2022, but that does not entirely explain how the state came up with 404,000 new job openings.

These are the top three job sectors in Georgia:

• Real estate, rentals, and leasing
• Information
• Manufacturing

6. (Tie) New Mexico: 7.4%

22,000 workers quitting their jobs in November 2022 helped plump the number of jobs opening to 69,000.

Here are the top three job sectors in the Land of Enchantment:

• Mining
• Real estate, rental, and leasing
• Professional, scientific, and technical services

6. (Tie) Colorado: 7.4%

80,000 Coloradans quit their jobs in November 2022, and 231,000 new jobs opened up.

The top three job sectors in Colorado are:

• Real estate, rental, and leasing
• Professional, scientific, and technical services
• Information

7. Montana: 7.3%

In November 2022, 18,000 people quit their jobs in Montana, and there were 40,000 job openings.

Montana's three top job sectors are:

• Agriculture and forestry
• Mining
• Energy production

The fourth spot on the list is the service industry. With 33% of the state's workforce in the service sector, there is sure to be a constant churning of jobs.

More jobs mean more households who can afford to put money in the bank, take out a mortgage, and pursue their interests. It may be unrealistic to expect this hot job market to stick around forever, but it's sure nice while it lasts.