- Amazon is expanding from Seattle and has narrowed the list of places
- Amazon's HQ2 is likely to have a great economic impact on the chosen city, potentially lowering unemployment and increasing average wages.
- Business Insider compiled economic data for the 17 American cities on the Amazon HQ2 shortlist.
Only 17 US cities are left in the running for Amazon's HQ2 — here are the ones in most dire need of Amazon's 50,000 jobs
Amazon revealed its HQ2 shortlist, which includes 17 American cities. Here's how Amazon's headquarters could impact the employment outlook of the winning city.
Amazon revealed the 20 locations on the shortlist for the tech giant's second headquarters — known as HQ2 — on Thursday.
The first headquarters has served as a huge driver of Seattle's economic growth since it set up shop there, and it's likely that the city chosen for Amazon HQ2 will face the same fate.
Of the 20 locations still under consideration, 17 are American cities. One non-American city — Toronto, Canada — remains in the running. Two other areas — Montgomery County, Maryland and Northern Virginia — are broad areas instead of cities. Both of those locations are within proximity of Washington, DC, which is also a finalist.
The winning city is promised a $5 billion investment and as many as 50,000 high-paying jobs for well-educated employees.
With a massive number of jobs to fill, selecting a city with high unemployment and underemployment rates may indicate that workers will be willing and able to work at HQ2.
We took a look at key economic indicators for the 17 American cities on the HQ2 shortlist, including unemployment and underemployment rates, median salary, percentage of college-educated adults, and recent GDP growth.
Unemployment data is as of November 2017 from the Bureau of Labor Statistics, which measures the percentage of people in the workforce within a metropolitan area without a job. WalletHub provided the data on underemployment rates and median annual income. The percentage of college educated people in each city is from the 2010 Census. And the Bureau of Economic Analysis measured each city's GDP growth for 2016.
To see how much each of the 17 US cities could benefit from 50,000 new jobs, we ordered them from lowest to highest unemployment rate.
Nashville, Tennessee
Unemployment rate: 2.6%
Underemployment rate: 1.8%
Median salary: $52,242
College educated: 29.7%
GDP growth: 3.4%
Austin, Texas
Unemployment rate: 2.7%
Underemployment rate: 3.4%
Median salary: $63,019
College educated: 39.4%
GDP growth: 4.9%
Denver, Colorado
Unemployment rate: 2.8%
Underemployment rate: 8.5%
Median salary: $50,958
College educated: 38.2%
GDP growth: 2.4%
Boston, Massachusetts
Unemployment rate: 3.0%
Underemployment rate: 9.7%
Median salary: $39,511
College educated: 43.0%
GDP growth: 2.0%
Indianapolis, Indiana
Unemployment rate: 3.1%
Underemployment rate: 2.4%
Median salary: $46,951
College educated: 30.7%
GDP growth: 2.1%
Dallas, Texas
Unemployment rate: 3.2%
Underemployment rate: 1.2%
Median salary: $45,035
College educated: 31.1%
GDP growth: 3.0%
Columbus, Ohio
Unemployment rate: 3.5%
Underemployment rate: 2.5%
Median salary: $52,396
College educated: 32.5%
GDP growth: 2.5%
Washington, DC
Unemployment rate: 3.6%
Underemployment rate: 11.0%
Median salary: $42,884
College educated: 46.8%
GDP growth: 1.1%
Los Angeles, California
Unemployment rate: 3.8%
Underemployment rate: 1.0%
Median salary: $36,218
College educated: 31.0%
GDP growth: 2.1%
Raleigh, North Carolina
Unemployment rate: 3.9%
Underemployment rate: 4.7%
Median salary: $62,120
College educated: 41.0%
GDP growth: 5.3%
Miami, Florida
Unemployment rate: 4.1%
Underemployment rate: -1.0%
Median salary: $28,506
College educated: 28.1%
GDP growth: 2.6%
Atlanta, Georgia
Unemployment rate: 4.2%
Underemployment rate: 1.4%
Median salary: $50,049
College educated: 34.1%
GDP growth: 3.7%
Pittsburgh, Pennsylvania
Unemployment rate: 4.3%
Underemployment rate: 1.5%
Median salary: $45,160
College educated: 29.1%
GDP growth: 0.1%
New York, New York
Unemployment rate: 4.3%
Underemployment rate: 6.0%
Median salary: $27,472
College educated: 36.0%
GDP growth: 0.9%
Newark, New Jersey
Unemployment rate: 4.3%
Underemployment rate: 6.0%
Median salary: $27,070
College educated: 36.0%
GDP growth: 0.9%
Philadelphia, Pennsylvania
Unemployment rate: 4.4%
Underemployment rate: 3.2%
Median salary: $33,533
College educated: 33.1%
GDP growth: 1.6%
Chicago, Illinois
Unemployment rate: 4.7%
Underemployment rate: 5.6%
Median salary: $42,560
College educated: 34.0%
GDP growth: 0.9%