Category Archives: Jobs/JAX Economy
Florida Economy Flirting with $1 Trillion – 17th largest in the world – Adding $2.7 billion EVERY DAY
Florida’s economy is inching ever so close to the $1 trillion mark. The Sunshine State churned out goods and services at an annual pace of $996.3 billion during the first quarter of 2018. Florida accounted for fully 5 percent of U.S. economic activity, the federal agency said. That sounds impressive — until you consider that Florida has more than 6 percent of the U.S. civilian labor force. Florida’s industrial mix is more weighted towards low-productivity industries, says Gus Faucher, chief economist at PNC Financial Services. Read the full articles from My Palm Beach Post by Jeff Ostrowski and from US News here
Metro JAX added 17,900 new jobs from August 2017 to July 2018, led by the education/health services and transportation/utilities sectors. Statewide, Florida, has an annual job growth rate of 3.6%, double that of the nation’s 1.8%, according to Governor Rick Scott’s office and the city of Jacksonvile.
JinkoSolar Holding Co. Ltd. is hiring and filing the paperwork needed to launch its Jacksonville solar-panel manufacturing plant, according to city and state records and a company executive. See the article here from Karen Brune Mathis of The JAX Daily Record.
A unidentified data innovation organization will add 100 jobs in downtown Jacksonville. See the article here in the ORLANDO – Business Journal.
The Florida Department of Economic Opportuniuty said the region grew 2.7% over the past 12 months, outpacing the state at 1.9%. Construction jobs surged ahead with 3,800 new jobs (+9.2%) followed by Financial Activities (+4.1%), Retail (+3.8%) and Leisure and Hospitality (+3.6%). Most importantly, none of the MSA’s five counties lost jobs, and their unemployment rates all dropped. See the article here from Mark Basch at The JAX Daily Record.
Metro JAX job growth was at a 2.6% annual rate, according to the Florida Department of Economic Opportunity and an article by Mark Basch in the JAX Daily Record.
An ongoing Financial News and Daily Record article highlighted JAXUSA Partnership President Jerry Mallot where he talked on the Jacksonville locale’s low unemployment rate joined with its capacity to draw in new industry and sound land advertise that has made an ideal tempest of monetary essentialness in Northeast Florida. “Joblessness is beneath 4 percent, which implies we are at full work,” Mallot said. See the article here at JAXUSA.org from an article in Financial News & Daily Record.
As freshly constructed units are entering the local market, Vacancies are anticipated to lessen. Thanks to appealing rents 70s and 80s vintage product prevail with renters. Regional private investors are the main active buyers in Jacksonville, targeting higher yields. We thus have the strategic opportunity to procure multifamily properties in Jacksonville, which is often neglected among larger metropolitan cities. Get the full articles from Creative Realty Partners here
Jacksonville’s unemployment rate fell in February, the Florida Department of Economic Opportunity said Friday in an update that showed a better labor market than the agency had just reported the previous week.
The unemployment rate in the Jacksonville metropolitan area –– comprising Duval, Baker, Clay, Nassau and St. Johns counties –– fell from 5.2 percent in January to 4.5 percent in February, the state agency said. Read the full article here
JAX Chamber President and CEO Daniel Davis issued the accompanying articulation. Jacksonville financial improvement pioneers have worked intimately with Enterprise Florida to bring a great many employments and billions of dollars in capital speculation to our locale. Read the full post from JAX Chamber here