Published Thu, Nov 12, 2009 06:39 AM
Modified Wed, Nov 11, 2009 09:05 PM

Durham, Raleigh rank high for jobs

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STAFF WRITER DAVID RANII

Durham is up and Raleigh is down in a new ranking of the nation's best cities for creating and keeping jobs.

Both ranked among the top 10 among large cities nationwide, according to an annual analysis by the Milken Institute, a California think tank. Durham zoomed to No. 6, up from No. 21 last year. The Raleigh-Cary metropolitan area, which was No. 2 last year, fell to No. 10.

Such reports can help boost this region's economy by attracting new residents and businesses, economic development officials have said.

But being ranked among the nation's "best-performing cities" is relative, considering the economy. "'Best performing' sometimes means retaining what you have," Ross DeVol, lead author of the report, said in a prepared statement. "In a period of recession, the index highlights metros that have adapted to weather the storm."

In Durham, the report found, "existing home prices barely fell and are already recovering. Positive net migration has helped buoy the housing market as well; the area remains a magnet for young professionals."

Raleigh-Cary ranks fifth in total job growth nationwide over the past five years, according to the report.

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