Florida Economic Update. Jesse Panuccio DEO Executive Director November 5, 2015
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1 Florida Economic Update Jesse Panuccio DEO Executive Director November 5, 2015
2 1
3 Private-Sector Jobs Created December 2010 September 2015, Seasonally Adjusted 941,000 Private Sector Jobs Created 234,400 Jobs Over-the-Year 8,700 Jobs Over-the-Month 2
4 7,200,000 7,000,000 Private-Sector Employment January 2005 September 2015, Seasonally Adjusted Mar-07 6,933,600 Sep-15 7,040,900 6,800,000 6,600,000 6,400,000 6,200,000 6,000,000 5,800,000 5,600,000 Jan-10 6,020,600 5,400,000 3
5 Private-Sector Job Growth Florida vs. the Nation Jurisdiction Total Jobs Added OTY % Increase United States 2,603, % Florida 234, % North Carolina 111, % California 405, % Michigan 84, % Georgia 78, % Texas 205, % New York 126, % Ohio 49, % Pennsylvania 43, % Illinois 25, % Since December 2010, Florida has had a 15.4% increase in private sector jobs while the nation as a whole has had a 10.9% increase. Florida had the fastest job growth rate of the ten most populous states. Florida added more private-sector jobs than Texas and New York over the year. October 20,
6 Private-Sector Job Growth by Industry Since December 2010 (%) Percent of Total Growth 5
7 Wages 73.3% (691,400) of private sector jobs created are in industries with an average annual wage > $40, % (407,000) of private sector jobs created are in industries with an average annual wage > $45,000. Over the last year, real wages (inflation-adjusted) in the private sector are up 3.5%. 6
8 Florida Metro Areas Gaining Private-Sector Jobs Since December Not Seasonally Adjusted 7
9 Florida Metro Areas Gaining Private Sector Jobs (Rate) Since December Not Seasonally Adjusted Change Since December 2010 Over-the-Year Change Homosassa Springs MSA Palm Bay-Melbourne-Titusville MSA Sebring MSA Tallahassee MSA Punta Gorda MSA Sebastian-Vero Beach MSA Pensacola-Ferry Pass-Brent MSA Gainesville MSA Jacksonville MSA Port St. Lucie MSA Deltona-Daytona Beach-Ormond Beach MSA Lakeland-Winter Haven MSA Tampa-St. Petersburg-Clearwater MSA Crestview-Ft Walton Beach-Destin MSA Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Miami-Miami Beach-Kendall Metropolitan Division West Palm Beach-Boca Raton-Delray Beach Metro Naples-Immokalee-Marco Island MSA Ocala MSA Orlando-Kissimmee-Sanford MSA Panama City MSA Cape Coral-Fort Myers MSA North Port-Sarasota-Bradenton MSA The Villages MSA 4.1% 6.1% 6.2% 6.4% 6.6% 8.8% 9.8% 10.3% 11.1% 11.2% 11.7% 12.4% 12.4% 12.7% 12.9% 13.1% 14.6% 15.2% 16.4% 16.5% 17.1% 17.2% 23.7% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% Homosassa Springs MSA Panama City MSA Sebastian-Vero Beach MSA Tallahassee MSA Crestview-Ft Walton Beach-Destin MSA Sebring MSA Deltona-Daytona Beach-Ormond Beach MSA West Palm Beach-Boca Raton-Delray Beach Metro Miami-Miami Beach-Kendall Metropolitan Division Gainesville MSA Cape Coral-Fort Myers MSA Palm Bay-Melbourne-Titusville MSA Ocala MSA Pensacola-Ferry Pass-Brent MSA Tampa-St. Petersburg-Clearwater MSA Port St. Lucie MSA North Port-Sarasota-Bradenton MSA Jacksonville MSA The Villages MSA Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Naples-Immokalee-Marco Island MSA Punta Gorda MSA Orlando-Kissimmee-Sanford MSA Lakeland-Winter Haven MSA 0.4% 0.5% 1.7% 1.9% 1.9% 2.0% 2.1% 2.4% 2.4% 2.5% 2.5% 2.6% 2.7% 2.7% 2.7% 2.8% 2.9% 2.9% 3.0% 3.2% 3.5% 3.8% 4.0% 4.3% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 8
10 Employer Size Distribution 2015 Q1 Private Employer Distribution By Size September
11 Gross Domestic Product (GDP) September
12 Job Demand January 2007 September 2015 Job Ads 257,285 Job Ads 267,548 September 30,
13 Job Demand- All Occupations Top 20 Advertised Occupations for Florida Not Seasonally Adjusted Online Ads September 2015 Registered Nurses 15,970 Heavy and Tractor-Trailer Truck Drivers 7,742 Retail Salespersons 7,316 First-Line Supervisors of Retail Sales Workers 6,442 Customer Service Representatives 5,980 First-Line Supervisors of Office and Administrative Support Workers 4,743 Maintenance and Repair Workers, General 3,994 First-Line Supervisors of Food Preparation and Serving Workers 3,953 Computer User Support Specialists 3,647 Accountants 3,620 Computer Systems Analysts 3,442 Medical and Health Services Managers 3,327 Marketing Managers 3,249 Web Developers 3,209 Network and Computer Systems Administrators 3,145 Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products 3,066 Software Developers, Applications 3,052 Bookkeeping, Accounting, and Auditing Clerks 2,836 Executive Secretaries and Executive Administrative Assistants 2,727 Sales Representatives, Services, All Other 2,508 = STEM occupations September 30,
14 12 Florida Unemployment Rate January 1990 September 2015, Seasonally Adjusted Jan-90 Jan-91 Jan-92 Jan-93 Jan-94 Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Recession Florida 13
15 Total Unemployment In Florida January 2005 September 2015, Seasonally Adjusted Mar ,000 Jan-10 1,020,000 Sep ,000 14
16 Reasons for Unemployment *2015: Includes all 2015 estimates through September 15
17 Florida Teen (16-19) Labor Force May May
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