[PPT] - The Florida Turnaround Story Jesse Panuccio DEO Executive Director PowerPoint Presentation

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The Florida Turnaround Story

Jesse Panuccio DEO Executive Director September 2, 2015

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Private-Sector Jobs Created

December 2010 – July 2015, Seasonally Adjusted

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917,400 Private Sector Jobs Created

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Port St. Lucie Metro Area Total Private-Sector Jobs

January 2005 – July 2015, Not Seasonally Adjusted

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Source: U.S. Department of Labor, Bureau of Labor Statistics, Current Employment Statistics Program, released August 21, 2015. Prepared by: Florida Department of Economic Opportunity, Bureau of Labor Market Statistics.

Private-Sector Jobs added since Dec. 2010 11,500

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Private Sector Employment

January 2005 – July 2015, Seasonally Adjusted

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Jan-10 6,020,609

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Private-Sector Job Growth Florida vs. the Nation

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Jurisdiction Total Jobs Added OTY % Increase United States 2,853,000 2.4% Florida 256,300 3.8% California 468,700 3.5% North Carolina 112,600 3.3% Michigan 104,200 2.9% Georgia 92,200 2.7% Texas 236,200 2.4% New York 163,500 2.1% Pennsylvania 70,700 1.4% Illinois 48,500 1.0% Ohio 40,500 0.9%

Since December 2010, Florida has had a 15.0% increase in private sector jobs while the nation as a whole has had a 10.8%

increase.

Florida had the fastest job growth rate of the ten most populous states.
Florida added more private-sector jobs than Texas and New York over the year.

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Over-the-Year Private-Sector Job Growth Rate Florida and the United States

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Florida United States

Nonagricultural Employment by Industry

July 2015 (Seasonally Adjusted)

Construction 5% Manufacturing 4% Trade, Transportation, and Utilities 21% Information 2% Financial Activities 7% Professional and Business Services 15% Education and Health Services 15% Leisure and Hospitality 14% Other Services 4% Total Government 13%

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Construction 4% Manufacturing 9% Trade, Transportation , and Utilities 19% Information 2% Financial Activities 6% Professional and Business Services 14% Education and Health Services 16% Leisure and Hospitality 11% Other Services 4% Total Government 15%

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Port St. Lucie MSA Employment by Industry

July 2015 (Not Seasonally Adjusted)

Source: U.S. Department of Labor, Bureau of Labor Statistics, Current Employment Statistics Program, released August 21, 2015. Prepared by: Florida Department of Economic Opportunity, Bureau of Labor Market Statistics.

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Port St. Lucie MSA Florida

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Private-Sector Job Growth by Industry Since December 2010

10 (%) Percent of total growth

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Port St. Lucie Metro Area Private-Sector Job Growth by Industry Since December 2010, Not Seasonally Adjusted

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Note: Financial activities lost jobs and information was unchanged since December 2010. Manufacturing lost jobs over the year and other services gained as many jobs over the year as it has since December 2010. Source: U.S. Department of Labor, Bureau of Labor Statistics, Current Employment Statistics Program, released August 21, 2015. Prepared by: Florida Department of Economic Opportunity, Bureau of Labor Market Statistics.

(%) Percent of total growth

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Florida Metro Areas Gaining Private-Sector Jobs Since December 2010 Not Seasonally Adjusted

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Florida Metro Areas Gaining Private Sector Jobs (Rate) Since December 2010 Not Seasonally Adjusted

13 Change Since December 2010 Over-the-Year Change

5.6% 4.4% 4.3% 4.2% 4.1% 4.0% 3.8% 3.7% 3.6% 3.5% 3.5% 3.4% 3.1% 3.1% 3.1% 3.0% 2.8% 2.8% 2.5% 2.0% 1.9% 1.6% 1.3% 0.7%

0% 1% 2% 3% 4% 5% 6%

Sebring MSA Orlando-Kissimmee-Sanford MSA Naples-Immokalee-Marco Island… Cape Coral-Fort Myers MSA Lakeland-Winter Haven MSA Port St. Lucie MSA Punta Gorda MSA

Ft. Lauderdale-Pompano Bch-…

Gainesville MSA North Port-Sarasota-Bradenton MSA Jacksonville MSA West Palm Beach-Boca Raton-… Palm Bay-Melbourne-Titusville MSA Miami-Miami Beach-Kendall… Ocala MSA Tampa-St. Petersburg-Clearwater… Pensacola-Ferry Pass-Brent MSA Tallahassee MSA The Villages MSA Deltona-Daytona Beach-Ormond… Sebastian-Vero Beach MSA Crestview-Ft Walton Beach-Destin… Panama City MSA Homosassa Springs MSA

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Employer Size Distribution 2014

Private Employer Distribution By Size

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Job Demand

January 2007 – July 2015

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Job Demand- All Occupations

= STEM occupations

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1,000 2,000 3,000 4,000 5,000 6,000 Aug-11 Dec-11 Apr-12 Aug-12 Dec-12 Apr-13 Aug-13 Dec-13 Apr-14 Aug-14 Dec-14 Apr-15

Port St. Lucie Metro Area Job Demand

August 2011 – July 2015

Source: The Conference Board, Help Wanted OnLine, prepared by the Florida Department of Economic Opportunity, Bureau of Labor Market Statistics.

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Job Openings 2,605 Job Openings 4,497

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Port St. Lucie Metro Area Top Occupations in Demand

Source: The Conference Board, Help Wanted OnLine, prepared by the Florida Department of Economic Opportunity, Bureau of Labor Market Statistics.

19 Top Advertised Occupations for Port St. Lucie MSA Online Ads July 2015

Registered Nurses 385 Heavy and Tractor-Trailer Truck Drivers 157 Retail Salespersons 127 First-Line Supervisors of Retail Sales Workers 109 Customer Service Representatives 97 Maintenance and Repair Workers, General 79 First-Line Supervisors of Office and Administrative Support Workers 66 First-Line Supervisors of Food Preparation and Serving Workers 63 Medical and Health Services Managers 56 Home Health Aides 55 Landscaping and Groundskeeping Workers 54 Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products 52 Demonstrators and Product Promoters 52 Critical Care Nurses 51 Nursing Assistants 49 Speech-Language Pathologists 48 Medical Secretaries 45 Industrial Engineers 44 Receptionists and Information Clerks 44 Medical Assistants 42

= STEM occupations

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Unemployment Rate for Florida and the United States

December 2010 – July 2015, Seasonally Adjusted

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Florida Unemployment Rate

January 1990 – July 2015, Seasonally Adjusted

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Mar. 08

5.4%

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2 4 6 8 10 12 14

Recession Port St. Lucie MSA

Port St. Lucie Metro Area Unemployment Rate

January 2005 – July 2015, Not Seasonally Adjusted

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Source: U.S. Department of Labor, Bureau of Labor Statistics, Local Area Unemployment Statistics Program in cooperation with the Florida Department of Economic Opportunity, Bureau of Labor Market Statistics, released August 21, 2015.

Mar. 06

3.2%

Sept. 09

13.6%

Jul. 15

6.5%

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Decline in Unemployment Rate December 2010 to Current All States, Ranked by Change

Seasonally Adjusted

23 Rank State Change from December 2010 Rank State Change from December 2010 Rank State Change from December 2010 1

Nevada

6.8

18

Arizona

3.8

35

Pennsylvania

2.6

2

California

5.9

19

Tennessee

3.8

36

Kansas

2.3

2

Michigan

5.9

19

Texas

3.8

37

Vermont

2.3

4

Rhode Island

5.4

21

Connecticut

3.8

38

Maryland

2.2

5

Florida

5.3

22

Illinois

3.7

39

Louisiana

2.1

6

Kentucky

4.7

23

Maine

3.5

39

Wyoming

2.1

7

Indiana

4.6

23

Mississippi

3.5

41

Iowa

1.9

8

Idaho

4.6

23

New Jersey

3.5

41

Virginia

1.9

9

Georgia

4.5

23

Wisconsin

3.5

43

Nebraska

1.8

10

North Carolina

4.4

27

Missouri

3.4

43

New Hampshire

1.8

10

Ohio

4.4

28

Delaware

3.3

43

Oklahoma

1.8

12

Colorado

4.4

28

Montana

3.3

46

New Mexico

1.3

13

Washington

4.3

30

Hawaii

3.1

47

South Dakota

1.2

14

South Carolina

4.3

30

Massachusetts

3.1

48

West Virginia

1.2

15

Alabama

4.1

32

Minnesota

3.0

49

Alaska

1.1

16

Oregon

4.1

32

New York

3.0

50

North Dakota

0.6

17

Utah

3.9

34

Arkansas

2.7

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Total Employment In Florida

January 2005 – July 2015, Seasonally Adjusted

Jan. 07

8,816,000 Jul.15 8,985,000

Nov. 09

8,068,000

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Total Unemployment In Florida

January 2005 – July 2015, Seasonally Adjusted

Mar-06 279,000 Jan-10 1,020,000 Jul-15 517,000

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Civilian Labor Force

2005-2015

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Civilian Labor Force Participation Rate

Total Labor force participation has been in decline nationally since 2000.
Primarily driven by:
Aging baby boomer cohort
Decline in teen and young adult participation (16-24 years old)

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Labor Force Participation by Age and Gender

Teen labor force participation has been in decline since the 1980s.
Male labor force participation has been in decline nationally since the 1940s and female participation has

been in decline since 1999. 28

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Reasons for Employment

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Part Time Employment

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Wages

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74.4% (682,400) of private sector jobs created are in industries with an average annual wage > $40,000.
43.4% (397,900) of private sector jobs created are in industries with an average annual wage > $45,000.
Over the last year, real wages (inflation-adjusted) in the private sector are up 1.9%.

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0%

Annual Real Hourly Wage Growth- July 2015

Industry Growth Rate

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RA Tax Rate Distribution

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GDP

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Competitive Economic Development

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Tourism in Florida

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Tourism in Florida

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