Future Jobs Data - Does it Exist?

Question

I'm trying to decide where to invest out of state and finding an overwhelming amount of demographic data that is either retrospective or a snapshot of the present.

What I would really like to know is where will all the new jobs go? Where are employers setting up shop, relocating, or opening new branches? In short, what cities have the highest projected NEW job growth in the future? Current and past population trends and economic data is helpful, but in deciding where to buy real estate, I would really love to glimpse the future.

Does this make sense or am I looking at this the wrong way?

Any suggestions would be greatly appreciated!

Taylor L. · Answer

I certainly don't think so. It's a question of accurately predicting the economic future, which nobody can do. In addition to looking for current growth, you can look for industry diversity, such that an area's economy is not overly concentrated in one industry.

Some folks use data like the U-Haul Migration Trends. They do know which way the moving trucks are going. Data is great, but ultimately the hunt for the perfect data set can turn into procrastination.

I was on a conference call last night with a guest speaker who owns 6,000ish mobile home pads and has invested in other property types as well. He said something to the effect of 'everything is a grey area.' Meaning we never get big red flashing signs of 'buy here!!'

Joel Hutchinson · Answer

Hello Taylor L,

Thank you for mentioning current growth, industry diversity, and U-Haul migration trends as options for looking at the data.

Perhaps even more pertinent is your observation that nobody can accurately predict the economic future and "ultimately the hunt for the perfect data set can turn into procrastination".

Thanks for your feedback!