California’s economy has had a successful year so far, most recently adding 339,000 jobs in September and having its unemployment rate drop to 4.1%. And in the center of that prosperity is the Tri-Valley, which continues to be recognized as a force for economic growth.
Pleasanton has been recognized as one of the biggest contributors to regional economic growth, having been declared the sixth best city in California for residents seeking a job, in a study conducted by financial management company WalletHub. Nearby San Ramon was ranked as the best city, Danville was the third best and Livermore was at No. 8.
The study compared more than 250 California cities across 16 key metrics that were divided into two categories, job market and socioeconomic environment.
Job market metrics ranged from job growth, monthly median starting salary, unemployment rates and share of workers in poverty. While socioeconomic environment focused more on quality of life for an employee, including commute times, employee benefit value and social engagement opportunities.
Cities were ranked on a 100-point scale -- the closer to 100 a city places, the more suitable conditions exist for a resident seeking employment. While all factors are important to the life of a working resident, the study placed a higher importance on metrics comprising a municipalities job market.
Overall, Pleasanton was recognized as the sixth-best place for residents seeking a job, achieving a rating of 65.89 out of 100.
Unemployment rates for residents who have sought higher education was where the city excels over all others. According to the survey, Pleasanton has the best unemployment rate for residents with a bachelor's degree or higher in the Golden State.
Pleasanton’s low ranking on employment growth kept the city from a higher rating; the survey recognized this as a trouble area placing it at 226 out of 254 cities.
In the No. 1 spot on the list, San Ramon achieved a 70.4 out of 100 after containing the second best job market in the Golden State and the eighth best socioeconomic environment.
The recently open City Center Bishop Ranch has no doubt helped San Ramon’s status as the best place for job hunters, as developers estimate that the retail complex will employ approximately 1,000 people when all 70 of its available spaces are open.
San Ramon was followed closely by neighboring Danville, which achieved the third highest rating of 68.5. WalletHub found the town to be one of the best places for high school graduates seeking employment; in fact, Danville shared a tie with five other cities for the lowest unemployment rates for high school graduates.
Not to be left out Livermore also achieved a top-10 ranking. In the No. 8 position, the city scored 65.39 out of 100.
WalletHub’s findings confirm those made this summer by the Bay Area Council Economic Institute, citing the Tri-Valley as having the fastest-growing job market in the Bay Area.
Coachella was found to be the worst place in California for job hunters, achieving a lowly score of 27.17 out of 100. Not a place for college graduates, it has the highest rate of unemployment for residents with a bachelor's degree or higher.
According to WalletHub the top 10 cities for finding a job in California are:
1. San Ramon
2. Palo Alto
4. Los Gatos
5. Santa Clara
7. Rancho Santa Margarita
9. Los Altos
10. Morgan Hill.