Tampa, FL, Area Economic Summary
[Pages:2]Tampa, FL, Area Economic Summary
Updated November 30, 2023
This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see regions/economic-summaries.htm.
Unemployment rates for the nation and selected areas
Unemployment rates
Average weekly wages for all industries by county
Tampa area, first quarter 2023 (U.S. = $1,465; Area = $1,316)
United States
3.4
3.6
Tampa area
2.6 3.2
Hernando Co.
3.3 4.1
Hillsborough Co.
2.6 3.1
Pasco Co.
2.9 3.5
Pinellas Co.
2.5 3.0
0.0
2.0
4.0
6.0
Oct-22 Oct-23 Source: U.S. BLS, Local Area Unemployment Statistics.
Source: U.S. BLS, Quarterly Census of Employment and Wages.
Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector
12-month percent changes in employment
14.0 12.0 10.0
8.0 6.0 4.0 2.0 0.0 -2.0 -4.0 -6.0 -8.0
Oct-20
Oct-21
Oct-22
Oct-23
Tampa area
United States
Source: U.S. BLS, Current Employment Statistics.
Tampa area employment (number in thousands)
Change from Oct. Oct. 2023 2022 to Oct. 2023
Number Percent
Total nonfarm
1,540.6
37.5
2.5
Mining and logging
0.3
0.0
0.0
Cons tructi on
94.6
2.3
2.5
Ma nufa cturi ng
76.6
2.5
3.4
Trade, transportation, and utilities
285.3
5.0
1.8
I nforma ti on
27.6
-1.5
-5.2
Financial activities
135.9
-5.0
-3.5
Professional and business services
303.6
10.0
3.4
Education and health services
251.0
22.4
9.8
Leisure and hospitality
160.1
-1.1
-0.7
Other services
49.8
1.3
2.7
Government
155.8
1.6
1.0
Source: U.S. BLS, Current Employment Statistics.
Over-the-year change in the prices paid by urban consumers for selected categories
12-month percent change in CPI-U, September 2023
8.0
7.0
6.7
5.9
6.0
5.0 4.0
3.7
4.0 3.7
3.0
2.0
1.0
0.0
-1.0 All items
Food
-0.5 Energy
Tampa area
U.S. city average
Source: U.S. BLS, Consumer Price Index.
Over-the-year changes in the selling prices received by producers for selected industries nationwide
12-month percent changes in PPI
35.0 30.0 25.0 20.0 15.0 10.0
5.0 0.0 -5.0 -10.0 -15.0
Oct-20
Oct-21
General freight trucking
Oct-22 Hospitals
Oct-23
Offices of lawyers Source: U.S. BLS, Producer Price Index.
Average annual spending and percent distribution for selected categories
Average annual expenditures, United States and
Tampa area, 2021-22
100% 80% 60% 40%
$10,154 $7,767 $6,067 $8,022
$11,940
$12,168 $8,308 $5,651 $8,818 $11,645
20%
$23,686
$23,462
0%
Tampa area
United States
All other items
Personal insurance & pensions
Healthcare
Food
Transportation
Housing Source: U.S. BLS, Consumer Expenditure Survey.
Average hourly wages for selected occupations
Occupation All occupations
Tampa area
United States
$27.64 $29.76
Lawyers
66.40 78.74
Accountants and auditors
39.60 41.70
Registered nurses
38.42 42.80
Construction laborers
18.14 22.29
Retail salespersons
16.01 16.70
Landscaping and groundskeeping workers
15.63
Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2022.
17.92
Employer costs per hour worked for wages and selected employee benefits by geographic division
Private industry,
South Atlantic United
June 2023
(1)
States
Total compensation
$37.36 $41.03
Wages and salaries
27.03
28.97
Total benefits
10.33
12.06
Paid leave
2.78
3.05
Vacation
1.44
1.56
Supplemental pay
1.19
1.53
Insurance
2.48
3.02
Retirement and savings
1.09
1.39
Legally required benefits
2.78
3.08
(1) The states that compose the South Atlantic census division are: DE, DC, FL, GA, MD, NC, SC, VA, and WV. Source: U.S. BLS, Employer Costs for Employee Compensation.
Over-the-year changes in wages and salaries
12-month percent changes in ECI
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
Sep-20
Sep-21 South Atlantic
Source: U.S. BLS, Employment Cost Index.
Sep-22
Sep-23
United States
Southeast Information Office ? BLSinfoAtlanta@ ? ? 404-893-4222
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