With graduation nearing, many students are on the hunt for careers. Recent grads may not have to look far as far as they expected because Des Moines was named Forbes’ No. 1 City for Young Professionals.

According to the Department of Labor, more than 2 million college-educated workers age 25 and older are unemployed. The number seems daunting to some, but in Des Moines, the outlook is much more encouraging.

The city is home to big businesses such as Principal Financial Group and EMC Insurance Companies, which yield more job opportunities. Of the cities Forbes assessed, Des Moines has the highest concentration of large companies with one for every 568 residents.

Aside from already established companies, Des Moines is becoming home to businesses relocating from coasts. In the city, business costs are 16 percent below the national average. Companies such as Pioneer Hi-Bred are growing, and Pioneer expects to hire an additional 500 employees during the next few years. Des Moines also has a 5.8 percent unemployment rate, much lower than the national average of 9 percent.

According to the U.S. Census Bureau, as of 2010, Des Moines is home to 203,433 people, and 23.4 percent of those age 25 or older have a bachelor’s degree or higher. The median household income for the city is $44,178; for those between ages 24 and 34, the median salary is $47,200.

The salary may not seem large, but in Des Moines that number goes further. Living costs in Des Moines are 8 percent lower than the national average, which makes it the 22nd least expensive city to live.

“We’re encountering a lot of young individuals moving here from larger cities where it would take five or 10 years to ascend into positions, where here they are having opportunities given to them to move more quickly in their career paths,” said Mary Bontrager, vice president of workforce for the Greater Des Moines Partnership, a regional economic development organization.

Kendra Murphy graduated from Iowa State last spring with a degree in advertising. She currently lives and works in Des Moines and has been a resident since last May. Murphy said living in Des Moines is perfect for her.

“I was offered a job here and I love that it is so close to Ames, so I can come back frequently,” Murphy said. “I’ve been here for six months and I don’t want to leave. It’s a clean city, there are always things going on and it has a small-town feel.”

Although Murphy has not gotten the opportunity to move up in her position, many of her colleagues have advanced quickly. Des Moines proves to be the place for young professionals.

“Most of my co-workers are in their 20s or 30s,” Murphy said.

Other towns such as Madison, Wis., Omaha, Neb., and Minneapolis-St. Paul, Minn., also ranked high on Forbes’ list. The cities have low unemployment rates, a large demographic of college graduates and the cost of living is below the national average.

Forbes determines the top lists based on seven factors. The factors include, unemployment rates, 2010-2012 job growth projections, number of small businesses, number of large businesses, median salaries for 24- to 34-year-olds, cost of living and the percentage of the population age 25 or older with college degrees in the area.