Known for its country music, Nashville has also become a booming metro of the Healthcare, Technology and Construction industries. Over the past 5 years, we have seen the job growth double in numbers, which equates to about 20% and over 194,000 more people working there since 2014. Over 100 people move to the city every day and it has been said that it is the most diverse, yet progressive city in the country right now.
With this growth comes a great deal of opportunity for business owners and employees looking for work. The Nashville Healthcare industry contributes about $92 billion in revenue encompassing over 570,000 jobs. This industry started in 1968 when the Hospital Corporation of America (HCA) was founded. By 1969, HCA was publicly traded. After that, everything changed for healthcare. It now has the highest healthcare job growth in the nation.
In addition to the Nashville Healthcare industry being one of the nation’s top growth sectors, the Technology community is slowing making its mark as well. With an increase of 2,522 new jobs in 2018 and growth of about 4.2% we see this to be a major job contributor in this area. The tech job market is also in high demand, with a medium wage of $72.45, the highest of any medium wage.
With all this job growth, more and more people are moving to the city every day, driving the Construction industry to historically high levels. Construction activity is contributing to the employment growth, creating 23,000 new jobs. When the economy is hot, construction is peaking. We will not see any slow down soon.
All this growth, coupled with an extremely tight labor market, is bringing about a dilemma in hiring strategies for many of the Nashville’s companies. It has been harder and harder to find candidates to fill these job openings. Recruiters are looking for passive candidates and will need to rely on reputation, initiatives, salary, bonus plan, etc. to leverage candidates.
Working with a staffing company can help eliminate that stress, as their prime focus will be finding the right candidates for your business. If you are experiencing hiring struggles in the Nashville area, contact us today to learn more about how we can help your business needs.