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The numbers behind Florida's partial economic comeback

The Great Recession officially ended about five years ago. • How much has badly bruised Florida come back during this belabored recovery? How far do we have to go? And how have we changed? • Government number crunchers recently released new calculations. The adjusted figures haven't altered the thrust of the state's economic story: We're gradually getting back to work, but many of the fastest-growing industries have lower-paying jobs. Jeff Harrington, Times staff writer

Where the jobs are

Florida still has fewer construction, manufacturing and information jobs than it had before the recession. A jump in lower-paying tourism, health care and retail jobs gave those industries a bigger slice of the state's economic pie. Despite a focus on government cost-cutting, Florida has about the same percentage of local, state and federal government jobs as it did before the recession.

12,900

Jobs added from January to February

29,600

Jobs added over the past year

41,292

Online job openings advertised in February, most of any Florida metro

10,825

STEM (science, technology, engineering and math) job openings in February. Also the most of any Florida metro

500

Mining and logging jobs, the smallest industry in the region

227,400

Trade, transportation and utility jobs, our biggest industry

56,900

Local construction jobs, up from a recession low of 50,500 but far shy of the June 2006 peak of 95,300 construction workers

Tampa Bay recently relinquished its crown as the biggest job generator among Florida metros. Year over year, it now comes in third after Orlando and Miami.

Hardest-hit local county: Hernando with an unemployment rate of 8.6 percent, fourth-highest in the state. That's down from 9.7 percent a year ago.

Best-performing local county: Tie between Pinellas and Hillsborough, both at 6.3 percent. A year ago, Pinellas was at 7.7 percent and Hillsborough was at 7.6 percent.

Professional and business services led the way by adding 10,000 new jobs in the bay area over the year. Trade, transportation, and utilities came in second with 6,700 new jobs, followed by education and health services with 5,500 jobs.

 

Where the

money is*

Palm Bay-Melbourne: $838.29 (highest weekly earnings among Florida metros)

Orlando: $801.50

Jacksonville: $787.69

Tampa Bay: $780.19

Tallahassee: $770.50

Miami-Fort Lauderdale: $752.76

Gainesville: $699.84

Ocala: $582.78

Palm Coast: $491.51

 

U.S.

$830.75

Florida

$755.82

*Average weekly earnings in January 2014. U.S. figure is seasonally adjusted; other figures are not seasonally adjusted

Sources

U.S. Department of Labor; Florida Department of Economic Opportunity; Federal Reserve Bank of Atlanta; U.S. Department of Commerce Bureau of Economic Research; ADP Regional Employment Report; Times research

The numbers behind Florida's partial economic comeback 03/28/14 [Last modified: Monday, March 31, 2014 5:23pm]
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