Tampa metro area tops major Florida markets’ year-over-year industry employment growth


February 25, 2016



 
 

TAMPA, Fla. / Feb. 25, 2016 / The Tampa Hillsborough Economic Development Corporation’s latest Q4 2015 Workforce Average Quarterly Update presents some more positive economic news for the region.

 
From Q4 2014 to Q4 2015, the Tampa metro area added 38,200 individuals to its workforce, an increase of 3.1 percent – a 138 percent jump year-over-year from Q4 2013 to Q4 2014, when the Tampa area workforce grew by just 14,900, or 1.3 percent. The market has not seen this much growth in the last two years during a three-month average.
 
While other parts of Florida are seeing increases as well, none are quite as significant or consistent as those occurring here.
 
According to the most recent Florida Department of Economic Opportunity and U.S. Bureau of Labor Statistics reports, the Tampa-St. Petersburg-Clearwater MSA was the top metro in the state of Florida for industry employment growth. Not only did the Tampa area see the largest job gains, but it also had the most consistent across-the-board growth in five key industries: Professional & Business Services, Wholesale Trade, Education & Health Services, Construction, and Leisure & Hospitality.
 
“We’re not just the number one metro in the state of Florida for job creation. We’re leading the state in growing our workforce in the industries that help our economy thrive,” said J.P. DuBuque, interim president and CEO of the Tampa Hillsborough Economic Development Corporation. “We have the talent to support the companies choosing Tampa and Hillsborough County for an expansion or relocation.”
 
The Tampa MSA saw a 5.8 percent increase in Education & Health Services employment growth from the last quarter of 2014 to the last quarter of 2015. In comparison, Orlando only saw a 1.4 percent increase, and the closest to Tampa in growth was Jacksonville was 4.9 percent. As a whole, the state of Florida had employment growth in that industry sector just under 4 percent.
 
Q4 2014 vs Q4 2015 Industry Growth By FL Metros
 
From Q3 2015 to Q4 2015, the Tampa metro area economy grew by 2.5 percent, with employment during that same period increasing by 0.6 percentage points – a figure higher than the major markets listed in the graphic below:
 
Q3 2015 vs Q4 2015 Percent Gain vs Loss by Market
 
For more information, workforce data, or additional economic reports, please visit tampabayedc.com/Data-Center.
 
About the Tampa Hillsborough Economic Development Corporation
The Tampa Hillsborough Economic Development Corporation works to develop and sustain a thriving 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.
 
About Hillsborough County, Florida
Hillsborough County is the commercial and industrial heart of Tampa Bay. The fourth largest county in the state of Florida, Hillsborough is home to nearly 1.3 million residents, with thousands more arriving each year. Its strength is drawn from being one of the most advanced economies and having one of the most educated workforces in the state. Hillsborough County and its three municipalities –Tampa, Plant City, and Temple Terrace — offer a competitive business environment and an abundance of regional assets including Port Tampa Bay, Tampa International Airport, and MacDill Air Force Base. County government is focused on creating economic prosperity for residents and businesses throughout the area. To learn more, visit hillsboroughcounty.org.

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