Wednesday, September 19, 2018
Business

Black workers lag in wage growth as Florida’s labor force grows more diverse and better-educated

Not even one penny per year.

That’s the increase in hourly wages, adjusted for inflation, for the typical black worker in Florida from 2000 to 2017, according to a new study from Florida International University. Or, in other words: median hourly wages for black working Floridians went up 17 cents per hour over 18 years.

It’s a stark finding in FIU’s just-released "State of Working Florida 2018" report, which concluded that Florida’s labor force has changed significantly over the last couple of decades — getting more racially and ethnically diverse, better-educated and older — but that the benefits have reached some workers and not others.

"One of the key concerns that we bring up in this report is that there’s a considerable equity issue," the report’s author, Alí R. Bustamante, a senior research affiliate with FIU’s Center for Labor Research and Studies, said Friday.

Here are some key numbers:

A changing labor force

Florida’s workforce is evolving from one focused on physical labor to one that emphasizes specialized knowledge.

Since 2000, the shares of the overall labor force consisting of employees in manufacturing, construction, information, government, and trade, transportation and utilities "have all declined drastically," according to the report. Meanwhile, education, health services, professional and business services, and leisure and hospitality have all claimed bigger shares of the workforce.

Looking ahead, the report projects that education, health and professional and business services will be the largest drivers of new employment in Florida through 2025.

10.9 percent — Decline in the white share of Florida’s labor force, largely as the number of workers who are biracial or multiracial increase. That same number also is the percentage increase in the number of workers 55 and older. These trends are expected to continue. By 2041, Florida’s workers from 25 to 54 years old are expected to be 68 percent white, 32 percent non-white and 29.5 percent Hispanic.

1 in 3 — Number of Florida workers with a bachelor’s degree or higher (an increase of about 8 percent).

Uneven gains

Despite an 18.4 percent increase in productivity from 2000 to 2016, wage growth has been about a third as much and unevenly distributed.

$1.27 — Wage gain, adjusted for inflation, seen by the typical Florida worker earning the median, or midpoint, hourly wage from 2000 to 2017.

17 cents — Hourly gain seen by the typical black Florida worker for the same period. In inflation-adjusted dollars, median wages for black workers grew from $13.91 an hour in 2000 to $14.08 an hour in 2017. By comparison, median wages for white workers during the same time grew $1.36 an hour, from $17.82 to $19.18.

3.3 percent — 2017 unemployment rate for white workers.

6.8 percent — 2017 unemployment rate for black workers.

Potential investments

A shift toward a knowledge-driven economy requires investments in higher education, the FIU report concludes. It also suggests investments in alternative energy and raising the minimum wage.

$830.2 million — Estimated gain to the state from increasing enrollment at Florida public colleges and universities by 10 percent if the state, rather than students or families, picked up the cost of $579 million.

$172 million — Estimated economic impact of investing $100 million in solar power.

$29.5 billion — Estimated increase in earnings for 3.2 million workers if Florida raised its minimum wage to $15 an hour.

MORE: Go here for more Business News

Contact Richard Danielson at [email protected] or (813) 226-3403. Follow @Danielson_Times

Comments
Daniel Ruth: City owes Gonzmart and Princess Ulele more than a notice of code violation

Daniel Ruth: City owes Gonzmart and Princess Ulele more than a notice of code violation

By Daniel RuthTimes ColumnistThis has to be height of bureaucratic pettiness, especially for a city whose track record in promoting quality public art falls somewhere between stick figures and finger puppets.Richard Gonzmart is a community treasure. ...
Updated: 1 hour ago
Valet parking? A concierge? Midtown Tampa outlines plans for an amenity-rich office building

Valet parking? A concierge? Midtown Tampa outlines plans for an amenity-rich office building

TAMPA — A sudden boomlet in premium office space is getting boomier as developers detail their plans for the first of three office buildings planned at Midtown Tampa, a $500 million mixed-use development near Interstate 275 and N Dale Mabry Highway.M...
Updated: 3 hours ago
‘Imminent’ bankruptcy filing for law firm of suspended St . Pete lawyer Mark Stopa

‘Imminent’ bankruptcy filing for law firm of suspended St . Pete lawyer Mark Stopa

The law firm of suspended St. Petersburg attorney Mark Stopa is in such chaos that much of its staff has quit — some after suffering stress-related breakdowns — and a liquidation bankruptcy filing is imminent.In an emergency motion filed this week in...
Published: 09/19/18
Apartments, retail centers planned for north side of SR 54 in Land O' Lakes

Apartments, retail centers planned for north side of SR 54 in Land O' Lakes

LAND O’ LAKES — A forest of pine and oak trees and an aging mobile home neighborhood could be replaced by luxury apartments and a pair of retail centers along State Road 54 west of Cypress Creek.In separate proposals, land owners and de...
Published: 09/19/18
These four people made Florida Trend’s list of the 500 most influential business leaders

These four people made Florida Trend’s list of the 500 most influential business leaders

The 180-page Florida 500 is a compelling read for anyone curious about how the state’s most influential business leaders rose to power.Florida Trend magazine undertook some heavy lifting to compile the 2018 roster. Sure, some of the 500 bios read lik...
Updated: 2 hours ago
Tampa Bay businesses feel Red Tide’s sting: ‘Our sales are going to be our lowest ever’

Tampa Bay businesses feel Red Tide’s sting: ‘Our sales are going to be our lowest ever’

TREASURE ISLAND — For the first time during her 15 years bartending at Caddy’s on the Beach, Amanda Hudson had to help close shop early this past weekend because the smell of dead fish coming from the gulf was too putrid to bear."We had to shut down ...
Published: 09/18/18
Ernest Hooper: HCC helps light the way for those on life's winding paths

Ernest Hooper: HCC helps light the way for those on life's winding paths

After he graduated from a Maryland high school, Rickey Murray had a number of opportunities awaiting him at a number of four-year institutions.He eyed the University of South Florida, applied to Florida International University and considered Virgini...
Published: 09/18/18
Port Tampa Bay building new radiation screening facilities for cargo

Port Tampa Bay building new radiation screening facilities for cargo

TAMPA — Port Tampa Bay moved ahead Tuesday with a $4 million project to build three new radiation screening centers next to berths for containers and refrigerated cargo.The port already has a facility at its main exit where U.S. Customs and Border Pr...
Published: 09/18/18
Maximo Marina, long established on a canal off Boca Ciega Bay, completes a multimillion-dollar renovation

Maximo Marina, long established on a canal off Boca Ciega Bay, completes a multimillion-dollar renovation

ST. PETERSBURG — The $25 million Maximo Marina renovation off Boca Ciega Bay is almost complete, but for a few punch list items.Located in the Skyway Marina District on the city’s southern tip, the facility boasts 212 covered wet slips ...
Published: 09/18/18

Hernando Business Digest for Sept. 21

Briefly EMPLOYERS NEEDED FOR JOB FAIR: Pasco-Hernando State College, CareerSource Pasco Hernando, the Greater Hernando County Chamber of Commerce and Hernando County Office of Economic Development are seeking employers to participate in the Open for...
Published: 09/18/18