Future Job Growth Report in Southwest Florida

Southwest Florida has one of the fastest growing job markets in the United States, according to both Bloomberg and Forbes, and it doesn’t show any signs of slowing down. Forbes reports that much of the gains will be in the real estate and hospitality industries, due in part to retiring baby boomers looking for a place to call home in a warmer climate. However, there are a number of other industries that are thriving in Southwest Florida, from aviation and aerospace to IT and clean technology.  And as the No. 1 ranked state for business climate, Florida is also home to a large number of corporate headquarters, including Fortune 500 companies Hertz, Publix, and transportation giant CSX, among others. The general consensus is that the economy in Florida is ripe with job openings, low employment rates, and healthy revenues.

More Job Openings

With job openings reaching staggering highs in 2016 across the U.S., the future is projected to remain bright, particularly for mid- and senior-level employees, per an article published in Time.com’s Money publication. In a November 2016 statement from Florida Governor Rick Scott, he announced that the Fort Myers area added 8,900 jobs in October 2016 alone. And for a geographical area that has continually outperformed the nation in job growth (55 months consecutively) when it comes to job growth, Southwest Florida should anticipate the upward trend continuing.

Low Unemployment Rates

. In both Collier and Lee counties, the seasonally adjusted unemployment rates are near 2005 lows at 4.7 percent for Lee County and 5.0 percent in Collier County, per the Florida Department of Economic Opportunity.The U.S. unemployment rate is at 4.9 percent, according to the United States Bureau of Labor Statistics, putting both Lee and Collier hovering right around the national average. Unemployment rates have been a longstanding indicator of economic trends, and as these numbers indicate, the U.S. is doing just fine as there will always be a natural unemployment rate (career changes, life changes, moves, etc.).

Improved Economy

More jobs, lower unemployment, and a thriving economy are the trifecta when it comes to an ideal business location — and it appears that Southwest Florida has it. With the economy doing well, University of Florida economist Sean Snaith predicts that Florida is on track to boast a trillion dollar economy by 2018. He attributes the growth to continued strength in the housing market and its job growth outperforming the U.S. labor market. Additionally, both tourist revenues and taxable sales have increased over the last month, further signs of a strengthening economy.

Overall, numerous data points indicate that job growth in Southwest Florida is in a great spot economically, and that is projected to continue in 2017. If you’re considering Southwest Florida as the home of your business, you couldn’t pick a better location. The sun isn’t the only bright spot in Florida.