Nashville MSA Emerges as One of America’s Fastest Growing Job Markets
NASHVILLE, Tenn. (July 31, 2023) – The Nashville Area Chamber of Commerce announced Monday that the Nashville Metropolitan Statistical Area (MSA) has emerged as one of the top five cities in the nation for job growth post-COVID. According to recent data from the U.S. Census Bureau, more than 110,000 jobs have been added to the region since the beginning of the COVID-19 pandemic. The Nashville area experienced a loss of over 140,000 jobs during the pandemic, regaining that loss and adding an additional 110,000 new jobs since February 2020.
According to data from the Bureau of Labor Statistics, released earlier this month, the Nashville MSA saw a 10.4% growth rate from February 2020 through June 2023. That 10.4% growth rate ranks Nashville #4 of the 52 large metros, just behind Austin, Dallas, and Raleigh.
Outpacing competing cities such as New York, L.A., Chicago, Denver, Tampa, Atlanta, and Charlotte, the Nashville MSA has reaffirmed its status as a prime national destination for businesses and individuals. This new data underscores the region’s appeal with its robust job growth, rising per capita income, increasingly skilled workforce, and rapidly growing population.
“We are thrilled to see the Nashville MSA thrive as one of the nation’s leading hubs for commerce, industry, and innovation,” said Jeff Hite, Chief Economic Development Officer for the Nashville Area Chamber of Commerce. “The sustained job growth signifies that our economy, workforce, and population are more competitive than ever, attracting high-skill, high-pay jobs that drive the region’s prosperity.”
With this record-breaking growth comes the opportunity to address the region’s workforce challenges. Presently, there are approximately 62,000 job openings in the region, with two positions open for every unemployed job seeker. Addressing this challenge head-on, the Nashville Area Chamber of Commerce is taking proactive measures to foster a competitive labor market that benefits both job seekers and employers.
Among the Chamber’s workforce initiatives include programs to increase veteran and military-spouse workforce participation from Fort Campbell and surrounding military installations, partnering with Nashville State Community College to upskill and reskill adult learners, and working alongside Metro Nashville Public Schools (MNPS) to ensure Nashville’s students are prepared for the high-wage and high-demand jobs that are powering the region’s economy.
“This rapid job growth brings new opportunities for native Nashvillians, underserved communities, and the MNPS students who will shape the future,” said Stephanie Coleman, Chief Talent Development Officer at the Nashville Area Chamber of Commerce. “By offering access to high-wage, high-demand career pathways, we are paving the way for a brighter tomorrow for our local talent pool.”
The Nashville Area Chamber of Commerce partners with various education providers, community-based organizations, government agencies, and businesses to equip the local workforce with the expertise required to fill in-demand roles, aligning talent supply with industry needs.
About the Nashville Area Chamber of Commerce’s Research Center
The Nashville Area Chamber of Commerce’s Research Center is dedicated to providing comprehensive data analysis and insights that drive informed decision-making and support sustainable economic growth in the Middle Tennessee region. By studying key economic indicators and trends, the Research Center plays a vital role in shaping the future of our region.
About Nashville Area Chamber of Commerce and Partnership 2030
The Nashville Area Chamber of Commerce is Middle Tennessee’s largest business federation, representing more than 1,800 member companies. Belong, engage, lead, prosper embodies the Chamber’s focus on creating economic prosperity by facilitating community leadership. Established in 1990 as an economic development and community enhancement initiative of the Chamber, Partnership 2030 is a regional cooperative dedicated to making Middle Tennessee among the nation’s best places to live, work and do business. Partnership 2030 is supported by a diverse group of public and private companies as well as governmental agencies from the organization’s 10-county service area. The work of the Chamber is supported by its members, Partnership 2030 investors and sponsors; the Chamber’s Pivotal Partners (a partnership at the highest level for all Chamber programs and events) are Bass, Berry & Sims, BlueCross BlueShield of Tennessee, Community Health Systems, Gresham Smith and Regions. For more information, visit www.nashvillechamber.com.
