Bay County Economic Development Alliance’s Post

🌴☀️ Southwest Florida and North Port are thriving! Florida's economy continues to outpace the nation, with the private sector adding 37,900 jobs in January 2024 alone. Governor DeSantis highlighted Florida's double-the-national-average job growth, attributing it to growth-friendly policies and a low tax burden. The education and health services sector saw the most growth, followed by leisure and hospitality. This growth is a testament to Florida's commitment to jobseekers and creators, keeping the state ahead despite inflationary pressures. With Florida's statewide unemployment rate consistently lower than the national rate for 39 months, there are plenty of job opportunities for Floridians. Career seekers can utilize the CareerSource Suncoast network for guidance and support. To read more, visit the source FloridaCommerce : https://loom.ly/aesN3iU #NorthPort #EconomicGrowth #FloridaJobs #SouthwestFlorida #JobOpportunities

🔍 Recent News: Florida's Economic Resilience Amid National Decline Governor DeSantis touts continued economic growth in Florida, defying national trends. Here's a snapshot: 🚀 Labor Force Growth: 👉 +0.2% in Florida vs. -0.1% nationally. 👉 Private sector job growth rate: 3.0% in Florida vs. 1.7% nationally. 👉 Unemployment rate: 2.8% in Florida vs. 3.9% nationally. 🏗️ Construction is Booming: 👉 5th consecutive month of growth, adding 2,500 jobs. 👉 Rising new construction permits highlight economic strength. 📈 Sunshine State Dominates: 👉 Labor force growth rate: 3.1% in October 2023, outpacing the nation. 👉 Top job growth sectors (Oct '23): Trade/transportation (+10,900), Education/health services (+8,500). Explore CareerSource Southwest Florida for job assistance, free services for resume building, interview skills and personalized career training. #FloridaEconomy #JobGrowth #WorkforceDevelopment #CareerOpportunities https://loom.ly/LM8WI_Y

The Keystone State continues offering a favorable landscape for Pennsylvanians seeking employment opportunities. Claire Kovach, senior research analyst at the Keystone Research Center, Inc., said the steady trend has been ongoing for months, with the rate hovering below the national average of 4.1% during the past year. "Pennsylvania is on a roll," Kovach asserted. "We added, I think, 15,600 jobs in June, and that's 11 months straight now that Pennsylvania has added jobs. The data we got showed that Pennsylvania's unemployment rate is still quite low through 3.4%, and it's been at that or around that for over a year now." Kovach pointed out inflation is falling as nominal wages are growing steadily and the persistence of the combined effects is helping the labor market recover. She noted the number of nonfarm jobs rose to a record high of more than six million. Kovach emphasized the largest increase in jobs in June was in education and health services. "There's just some of the jobs that are most in demand," Kovach observed. "Jobs, especially like in health services, are consistently projected to be some of the most in-demand jobs over the next years and decades, especially in Pennsylvania. I believe leisure and hospitality also reached a record high in June." Kovach added as the economy improves and nears full employment, the jobless rate will not continue to drop forever. It is expected to gradually stabilize at a low level, with the lowest so far at 3.2%. Disclosure: The Keystone Research Center contributes to our fund for reporting on Budget Policy and Priorities, and Livable Wages/Working Families. #pennsylvania #unemployment

Wisconsin Department of Revenue's excellent Monthly Economic Update is out. Some highlights: Wisconsin employment increased by 4,800 in December, after increasing a revised 3,100 in November. Employment increased 42,700 since December of 2022, an increase of 1.4%. The unemployment rate in Wisconsin, at 3.3% in December, remains below the U.S. rate of 3.7%. The labor force participation rate was 65.9% in December in Wisconsin, up from 64.6% last year. The labor force increased by 80,000 since last December. #economicdata #wisconsin https://lnkd.in/gafHUpF5

For Pennsylvanians on the hunt for employment opportunities, the Keystone State offers a favorable landscape. https://ow.ly/SzyG50RZUjH The state’s jobless rate stayed at a record low 3.4% in April, better than the national rate of 3.9%. Read full article 👆 Wanna beat the recession? Now is the time to invest, take our five-question survey to see if you're a good fit: lvpefund.com/questionnaire #RealestateMarket #RealestateInvestment #CommercialRealestate #MultiFamilyRealEstate #AccredictedInvestors

For Pennsylvanians on the hunt for employment opportunities, the Keystone State offers a favorable landscape. https://ow.ly/SzyG50RZUjH The state’s jobless rate stayed at a record low 3.4% in April, better than the national rate of 3.9%. Read full article 👆 Wanna beat the recession? Now is the time to invest, take our five-question survey to see if you're a good fit: lvpefund.com/questionnaire #RealestateMarket #RealestateInvestment #CommercialRealestate #MultiFamilyRealEstate #AccredictedInvestors

Arizona's economic momentum drives forward and is reflected in a key headline indicator — a new record-low unemployment rate. Last week's June 2024 jobs report set a new record low for the state of 3.3 percent, just a notch lower than the May 2024 rate of 3.4 percent and lowest since the current methodology was first utilized in 1976. Our low unemployment rate is driven by promising trends - robust Health Care and Construction sector growth, increasing trend in Manufacturing. A new trend, Arizona is now outperforming the national average, as shown in the graph below. This historic news is a team effort from many partners across our state, and the work is far from over. Thanks to the amazing work at the Arizona Commerce Authority and Arizona Office of Economic Opportunity and across the Hobbs Administration, we're continuing to work to deliver an Arizona for Everyone and opportunities all across the state. https://lnkd.in/dR4b876s

For Pennsylvanians on the hunt for employment opportunities, the Keystone State offers a favorable landscape. https://ow.ly/SzyG50RZUjH The state’s jobless rate stayed at a record low 3.4% in April, better than the national rate of 3.9%. Read full article 👆 Wanna beat the recession? Now is the time to invest, take our five-question survey to see if you're a good fit: lvpefund.com/questionnaire #RealestateMarket #RealestateInvestment #CommercialRealestate #MultiFamilyRealEstate #AccredictedInvestors

Take a look at the Labour Market Data from October + November! Some key points: K-W-C: A slight decrease in the unemployment rate (0.2%) and a decrease in the participation rate (0.4%). This shows us that fewer people are engaged in the labour market, these are not due to job loss and could be due to factors such as retirement, moving, etc. Guelph: A decrease of 0.7% in regards to the unemployment rate and an increase of 0.9% in participation rate shows us that more people are joining the workforce and able to find jobs at this time. Is this due to holiday hiring? We will have to keep our eyes on the numbers to see what occurs over the next few months. Rural: At this point, massive job losses are not being forecasted but rather a slowdown on hiring. With 6000 young people leaving the market, the thing to watch will be whether entry-level roles are the ones that are not being hired for which could reduce the ability of young people to gain employment and drive down their participation rates. This does align with the current concern around the state of retail, smaller business that are trying to pay back CEBA loans and manufacturing slowing hiring. Check out a snapshot of the full year at: https://lnkd.in/gtBDKhVR

How does Indiana stack up against the U.S. in terms of employment growth by sector? Check out InContext to see which sectors are outpacing U.S. employment growth.