Manufacturing Helps Florida Diversify, But Workforce Needs Remain
By: Florida Chamber Foundation
During the Florida Chamber Foundation’s recent By The Numbers, the Florida Chamber Foundation’s Chief Economist Dr. Jerry Parrish takes a closer look at recent jobs numbers, new updates to TheFloridaScorecard.org and how Florida continues to diversify its economy.
Overall, job creation in Florida is up, with 178,400 jobs created year-over-year. Florida’s job growth rate is at 2.1 percent compared to the U.S. growth rate of 1.6 percent and the unemployment rate remains steady at 3.9 percent- the same since September 2017.
Manufacturing continues to be a leader in helping Florida diversify its economy and create new jobs. Florida’s manufacturing has grown 3.4 percent over the last year. And in the last four years, Florida’s manufacturing has continued to grow at a rate more than three times higher than the nation overall.
In fact, according to a recent article by Chief Executive Magazine, the Orlando area is the “nation’s foremost hub for optics technology and advanced manufacturing.” And while growth in manufacturing statewide is important, businesses are still faced with a workforce and skills gap, sentiments echoed by business leaders like Jeff Vinik in Tampa and reinforced by Florida Chamber members who tell us their number one concern is finding the right talent for their businesses.
Below, you can view the latest edition of the Florida Chamber Foundation’s By The Numbers and learn more about the growth in Florida’s manufacturing sector.
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May 31, 2018