Economic Report on Florida's 2013 Job Growth

2013 JOB GAINS

The sector with the largest estimated job gains in Florida was Retail Trade, followed by the Professional and Business Services, and Construction categories. With an estimated 28,800 construction jobs created, Florida experienced the second largest gain in construction jobs in the nation, only 100 jobs less than the nation’s leader, California. Heavy and Civil Engineering construction experienced the highest growth (12.9 percent), followed by specialty trade contractors (8.7 percent).

These figures reflect the substantial investment that the public and private sectors are undertaking to improve Florida’s infrastructure and become more competitive.

The Retail Sector Posted the Highest Gains in 2013

The retail sector has improved substantially, moving from the third-highest creator of jobs in 2012 to the top position during 2013, which is reflected by increases in consumer confidence. Florida’s Consumer Sentiment Index, published by the Bureau of Economic and Business Research at the University of Florida, shows an increase of 3 percentage points between January 2013 (75) and January 2014 (78).

Building Materials, Garden Equipment and Supplies dealers experienced a 10 percent growth in jobs, and Food and Beverages retailers experienced an 8.9 percent growth. These two subcategories had the largest growth in the retail sector.

Last year’s second-highest producer of net new jobs, Professional and Business Services showed an increase of 37,400 jobs in 2013. In this category, Professional, Scientific, and Technical Services jobs showed a 4 percent increase. Management of Companies and Enterprises showed a 0.6 percent increase, and there was a 3.5 percent increase in Administrative and Support, Waste Management, and Remediation jobs.

Professional and Business Services
	Dec. 2013	Dec. 2013
Professional, Scientific and Technical Services	452,300	470,600	18,300
Management of Companies and Enterprises	84,800	85,300	500
Administrative and Support, Waste Management, Remediation	534,800	553,400	18,600

Tourism is Florida’s largest employer, as shown in the 2013 Florida TaxWatch Research Report Investing in Tourism. The Leisure and Hospitality industry, one of the components of this important sector, also continued to grow in 2013 increasing by 24,500 jobs. The Arts, Entertainment, and Recreation component grew 2.7 percent, and Accommodation and Food Services grew by 2.3 percent.

Leisure and Hospitality
	Dec. 2013	Dec. 2013
Arts, Entertainment, and Recreation	198,000	203,400	5,400
Accommodation and Food Services	817,200	836,300	19,100

Adding 4,400 jobs, the Manufacturing industry grew from 318,000 to 322,400 jobs during 2013. This sector is expected to experience larger job growth in 2014 when the manufacturing machinery and equipment sales tax exemption becomes effective, starting April 2014.

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Tags: Banking & Finance, Florida TaxWatch