Tampa Bay Outshines Other Florida Metro Areas in Private Sector Job Growth, Particularly Healthcare and Education Sectors
The Tampa Bay area has emerged as the clear leader among Florida’s metropolitan areas when it comes to private sector job growth, as per recent data released by the Florida Department of Economic Opportunity. Over the past year, the region has witnessed a substantial increase in its labor force, with an impressive addition of 76,751 jobs in July 2023 alone. This represents a significant growth rate of 4.6% compared to the previous year.
In terms of job gains, the Tampa Bay area has witnessed a remarkable surge in healthcare and education services, with a notable increase of 21,000 jobs. Another sector experiencing substantial growth is professional and business services, which added 14,300 jobs. These impressive figures have placed Tampa Bay ahead of other major metros such as Miami and Orlando.
Despite the region’s phenomenal job growth, the unemployment rate in the Tampa-St. Petersburg-Clearwater metro area has remained steady at 3.1%. While this is a slight increase of 0.2% from July 2022, it still mirrors the state unemployment rate, which is lower than the national average of 3.8%.
However, it is worth mentioning that some counties outside the Tampa Bay metro area are grappling with higher unemployment rates. According to the Bureau of Workforce Statistics and Economic Research, several counties within the Tampa Bay area, including Miami-Dade and Monroe, have reported below-average unemployment rates at 1.9%. Conversely, Hendry County in southwest Florida has recorded the highest unemployment rate in the state, standing at 6.6%.
It is important to note that the aforementioned unemployment rates reported by the Bureau of Workforce Statistics and Economic Research have not been seasonably adjusted.
Tampa Bay’s impressive private sector job growth, particularly in the healthcare and education sectors, underscores the area’s economic resilience and potential. As the region continues to attract businesses and professionals, it further solidifies Tampa Bay’s position as a hub of growth and prosperity within Florida. With its low unemployment rate and thriving job market, Tampa Bay offers a promising landscape for both workers and employers alike.
