LA and OC both drop on Milken Institute’s Best-Performing Cities Index – Orange County Register

Feb 7, 2024 | Canyon Crest Guide Newspaper | 0 comments

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SANTA MONICA — The Los Angeles-Long Beach-Glendale region dropped 54 places on the Milken Institute’s annual Best-Performing Cities Index that was released Tuesday, falling from No. 68 in the 2023 rankings to No. 122 in this year’s.

Meanwhile, the Anaheim-Santa Ana-Irvine area fell 22 spots to No. 78 on the Santa Monica-based think tank’s 2024 rankings list, which measures the economic vitality of 200 large metro areas and 203 small cities.

The L.A.-Long Beach-Glendale had been No. 87 in the 2022 rankings before climbing to No. 68 on the 2023 list. Anaheim-Santa Ana-Irvine was No. 56 in the 2023 rankings and No. 69 in 2022.

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Austin, Texas was ranked as the best-performing large municipal area in the country on the 2024 list, while Idaho Falls, Idaho, was the best performing small city for the second consecutive year.

Among the criteria in the report are job creation, wage growth and the output of the high-tech sector, along with housing affordability, community resilience, broadband access and income inequality.

The data reviewed for the 2024 rankings were primarily from 2022, the report said.

“In 2022 (the main year covered in this report), the U.S. labor market added more than 6 million jobs, 90.7% of which were in metropolitan areas,” according to the report.

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