It's the new year and many people are on the hunt for change, such as a new job. However, the prospects are not too promising according to WalletHub which found Modesto as one of the worst cities to get a job.
And yes, that goes for Ceres, too, which is lumped into the Modesto region.
By ranking the job market and socioeconomic environment of 150 cities across the country, Modesto rang in six spots shy of last place. When compiling the list, WalletHub took into account socioeconomic environment like median annual income, benefits, housing affordability and social life as well as the job market.
The job market weighs more in the calculations because it typically more significantly influences an individual's decision to relocate for a position.
"By combining several metrics in our analysis our approach provides a more complete look of the job market in a city, rather than looking at a single metric like unemployment or job growth," said WalletHub financial writer Richie Bernardo.
As of October 2014, California's unemployment rate was at 7 percent and the nation's was at 5.5 percent for the same time period. Sectors showing job growth for that month in Stanislaus County were: Trade, Transportation and Utilities (500), Professional and Business Services (300), Educational and Health Services (600), Leisure and Hospitality (200), and Government (600). The EDD recorded a labor force of 236,700 people in Stanislaus County with approximately 23,500 unemployed.
However, while the ranking for Modesto is low, it is not permanent.
According to Bernardo, the rankings evolve as new data becomes available "but it can take several years for a true shift to be visible and permanent."
In the meantime, WalletHub recommends that individuals pursuing jobs should take into account factors such as relocation costs when determining if moving for a position is ultimately worthwhile. While it may be tempting to move to a city that is ranked higher, ultimately more specific factors, such as the sector of the industry in which an individual intends to work, can vary even in a well ranked location.
"A person should look if the job market in a particular city that has ranked better than the city he is living in provides opportunities for employment in-line with the skill set and wishes that the given person has," said Bernardo.