Our state’s increasingly diverse economy continues to outperform the nation as a whole in terms of labor outlook.
“Our projections indicate employment growth will pick up in 2008 as we put 2007 behind,” said Sean Snaith, director, Institute for Economic Competitiveness, University of Central Florida, Orlando. “While the U.S. economy slows, Florida continues to grow. Some of the state’s major metro areas, including Orlando, Tampa Bay and Jacksonville, will be at the top of the list in terms of employment growth through 2010.”
The institute’s figures predicted Florida would end 2007 with a 1.7 percent increase in new jobs, slightly above the U.S. average of 1.4 percent. In 2008, Florida will see a distinct pickup in economic activity with a 2.1 percent job increase – nearly double the 1.2 percent projected for the U.S.
For the 12-month period ending in July, Florida’s economy added approximately 184,000 new jobs, with the strongest growth occurring in the professional and business services sector. State labor statistics indicate Florida’s total non-agricultural employment rose to nearly 8.1 million in July 2007, compared with 7.8 million in July 2006.
Economist Hank Fishkind, president, Fishkind and Associates in Orlando, agrees that Florida’s job market is fundamentally strong. “Outside of the construction industry, Florida is generating a significant number of new jobs, particularly in leisure and hospitality, healthcare, trade and education.”
With a growing consumer market, an expanding talent pool, a supportive government and a strong asset base, Florida offers an attractive environment for business growth. The state had 12 cities named to Economy.com’s Business Vitality Index – more than double the number of leading cities in any other state.
“Our projections indicate employment growth will pick up in 2008 as we put 2007 behind,” said Sean Snaith, director, Institute for Economic Competitiveness, University of Central Florida, Orlando. “While the U.S. economy slows, Florida continues to grow. Some of the state’s major metro areas, including Orlando, Tampa Bay and Jacksonville, will be at the top of the list in terms of employment growth through 2010.”
The institute’s figures predicted Florida would end 2007 with a 1.7 percent increase in new jobs, slightly above the U.S. average of 1.4 percent. In 2008, Florida will see a distinct pickup in economic activity with a 2.1 percent job increase – nearly double the 1.2 percent projected for the U.S.
For the 12-month period ending in July, Florida’s economy added approximately 184,000 new jobs, with the strongest growth occurring in the professional and business services sector. State labor statistics indicate Florida’s total non-agricultural employment rose to nearly 8.1 million in July 2007, compared with 7.8 million in July 2006.
Economist Hank Fishkind, president, Fishkind and Associates in Orlando, agrees that Florida’s job market is fundamentally strong. “Outside of the construction industry, Florida is generating a significant number of new jobs, particularly in leisure and hospitality, healthcare, trade and education.”
With a growing consumer market, an expanding talent pool, a supportive government and a strong asset base, Florida offers an attractive environment for business growth. The state had 12 cities named to Economy.com’s Business Vitality Index – more than double the number of leading cities in any other state.
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