The South (and South Florida) – it's where the jobs are...
Bottom Line: Though South Florida doesn't resemble the south, our labor market region is part of it & it's where the most opportunity is across the country. Within the past two months a couple of firsts happened. First, we topped 6 million job openings nationally for the first time ever and in so doing we actually had more openings than unemployed persons as well. With the latest info provided by the feds we now see where the jobs are and what types of companies are doing the hiring...
Openings by region:
Northeast: 1.1 million
West: 1.3 million
Mid-West: 1.6 million
South 2.2 million
Literally twice the opportunity of the northeast – that's impressive. Expect folks to continue to migrate to the Southeast and Florida for opportunities – and yes you can see a direct political impact on where the opportunities are geographically. Lower tax states have the most opportunities on a relative basis. As for the types of companies hiring...
Percentage of job openings by company size:
Small businesses: 21%
Mid-Size businesses: 23%
Large businesses: 56%
Put it altogether and the job market is best for those looking to work for companies with over 500 employees in the southeast. This should continue to be good news for employees in Florida and challenging for employers (competing for talent).