Hillsborough County’s unemployment rate dips again, according to most recent data report
June 22, 2016
TAMPA, Fla. / In the April 2016 economic indicators collected by the Tampa Hillsborough Economic Development Corporation, a majority of the data points to a growing, strong economy in Hillsborough County and the Tampa MSA.
The unemployment rate in Hillsborough County fell another tenth of a percent to 4.1 from March to April and 0.7 percentage points from the same time last year. Hillsborough County’s unemployment rate continues to stay well below the state of Florida, which sits at 4.5, and the nation at 4.7 percent.
Major industry employment in the Tampa metro added 42,000 new jobs, an increase of 3.4 percent since April 2015. Professional and business services and education and health services saw the largest gains in employment year-over-year, adding 14,500 and 9,100 jobs respectively. From March to April 2016, professional and business services added nearly 4,000 jobs.
It’s more than job numbers that are signaling a growing economy in Hillsborough County. Building permits for single-family homes are already up nearly 17 percent for the year. Home prices are also increasing, with average sales prices up 7 percent over last year to $258,980.
“This data shows a clear pattern: Hillsborough County and the Tampa area is on the rise,” says Robin DiSalvo, Market Research Analyst for the EDC. “Our job numbers are up, homes are considered more valuable, and more single-family homes are being built here. The data we collect regularly shows Tampa and Hillsborough County is a great place to live, work, and play.”
For more on April’s economic indicators, please visit our Data Center.
About the Tampa Hillsborough Economic Development Corporation
The Tampa Hillsborough Economic Development works to develop and sustain a thriving local economy through the attraction, retention and expansion of high-wage jobs and capital investment in Hillsborough County and the cities of Tampa, Plant City, and Temple Terrace. Our efforts are focused on growing locally established companies as well as recruiting corporate headquarters and regional operations in targeted industry sectors including Information Technology, Financial and Professional Services, Life Sciences, Defense and Security, Manufacturing, and Distribution and Logistics. The Tampa Hillsborough Economic Development Corporation exists because of the generous support of over 100 investors from the local community. For more information, visit tampabayedc.com.