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The Florida jobs market, by several different angles, has built up some serious momentum.
Florida Chamber of Commerce Foundation Chief Economist Jerry Parrish recently compiled a series of studies that document the growth. Parrish spoke about the statewide job growth at the Fifth Annual Jobs, Jobs, Jobs conference in Sarasota in late October, presented by workforce organization CareerEdge, and in an interview with the Business Observer.
Parrish also talks often about how a robust employment environment is a key factor in Florida's six growth pillars. The pillars, based on projections that Florida's population will surpass 26 million people by 2030 include:
• Talent supply and education;
• Innovation and economic development;
• Infrastructure and growth leadership;
• Business climate and competiveness;
• Civic and governance systems; and
• Quality of life and quality places.
The following three charts illustrate the jobs growth Parrish cites in the studies.
Florida vs. U.S. in jobs created
One out of every 10 jobs created nationwide in 2016 comes from an employer in the Sunshine State. As recently as 2011 that figure was one out of more than 30 jobs and in 2012 it was one out of 22 jobs.
High-growth job categories
Florida's appetite for building and development remains strong, with construction being the fastest-growing sector, at 5.2%, in hires over 12 months from September 2015 to this past September. The second-fastest growing sector is professional and business services, which added nearly 60,000 jobs in the last 12 months.
Category Number of Jobs Growth
Professional and Business Services 59,400 4.8%
Leisure and Hospitality 49,900 4.4%
Education and Health Services 49,700 4.1%
Construction 22,800 5.2%
Manufacturing 15,300 4.4%
Industry diversification index
The Orlando-Kissimmee-Sanford MSA is ranked No. 1 statewide for job diversity, according to the Regional Economic Research Institute at Florida Gulf Coast University in Fort Myers. Job diversification, says Parrish, is the Holy Grail of economic development, in that it protects a region against job slumps in any one sector. “It's like your investment portfolio,” says Parrish. “It pays off to be diversified.”
The Lakeland-Winter Haven MSA, in Polk County, stands out on the Gulf Coast as the most diversified job market, and the No. 5 diversified market statewide. Four other MSAs in the region make the state top 10, with Punta Gorda, in Charlotte County, lagging at No. 16.
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