The Florida economy was hammered during the financial crisis as tourism slowed, real estate prices plummeted and jobs disappeared, but the state has crawled back and continues to see heavy net migration into nearly every Sunshine State metro. People are chasing jobs with three Florida metros ranked among the 10 places expected to have the fastest job growth over the next three years and seven among the top 25. Naples leads the way with a projected average annual rate of 4.1%. Unemployment peaked in Naples in January 2010 at 12.2%, but was just 5.4% last month and is expected to stay low. Joining Naples among the top spots for job growth are fellow southern Florida locales Cape Coral and Port St. Lucie.
The Pittsburgh metro area fell five spots but remained in the Top 40 in the 2011 Milken Institute Best-Performing Cities Index measuring economic and job growth.
Pittsburgh was 30th in the United States when it came to one-year job growth during the recession years of 2009-10, and 60th in terms of five-year growth from 2005 to 2010. It was 50th in terms of job growth from June 2010 to June 2011, the Milken Institute said.