ORLANDO MSA MARKET OVERVIEW - Economic Development

ORLANDO MSA MARKET OVERVIEW

LAST UPDATED: February 2022

Orlando MSA Market Overview

? Labor Market ? Payroll Employment ? Commercial Real Estate ? Residential Real Estate ? Consumer Spending ? Visitor Industry



Labor Market

Labor Force, Orlando MSA Seasonally Adjusted

EmpSloeyrieeds1 SLearibeos2r Force

1,400,000

1,200,000

1,000,000

800,000

600,000 400,000 200,000

February 2022 (12-Month Change) Labor Force: 1,365,798 (+91,968) Employed: 1,313,068 (+113,716) Unemployed: 147,873 (-21,748)

0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: U.S. Department of Labor, Bureau of Labor Statistics, LAUS Seasonally Adjusted

Labor Market

22 20 18

Unemployment Rate, Orlando MSA Seasonally Adjusted

RECESSION

February 2022 United States: 3.8% Orlando MSA: 3.9%

16

14

12

10

8

6

4

2 Mar-00 Mar-01 Mar-02 Mar-03 Mar-04 Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21

Orlando MSA

United States

Source: U.S. Department of Labor, Bureau of Labor Statistics

Labor Market

$1,000 $950

Average Weekly Hours & Earnings, Orlando MSA 12-Month Moving Average

40

12 MMA Weekly Earnings (left axis)

12 MMA Weekly Hours (right axis)

38

$900 36

$850

34 $800

$750

$700 2009

2010

2011

2012

2013

2014

2015

Source: Florida Department of Economic Opportunity, Labor Market Statistics Center

2016

2017

2018

February 2022 (NSA, 12-Month Change) Hours: 34.4 (-0.6%)

Earnings: $964.30 (6.7%)

2019

2020

2021

32

30 2022

Payroll Employment

Hundreds 1,350 1,300

Total, Nonfarm Payroll Employment, Orlando MSA

Not Seasonally Adjusted

RECESSION

February 2022 (12-Month Change) 1,337,600 (+102,900)

1,250

1,200

1,150

1,100 1,050

Feb '20 - Present 10,400 jobs lost

1,000 950

Nov '07 ? Jan '10 103,700 jobs lost

900

850

800 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: U.S. Department of Labor, Bureau of Labor Statistics

Payroll Employment

Change in Nonfarm Payroll Employment, Orlando MSA

Y/Y % Change, Not Seasonally Adjusted

12%

RECESSION

8%

4%

0%

February 2022 NSA

United States: 4.9%

-4%

Orlando MSA: 9.2%

-8%

-12% Orlando MSA United States

-16% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Source: U.S. Department of Labor, Bureau of Labor Statistics

Payroll Employment ? Top 10

% Change in Payroll Employment, MSAs > 1 Million Jobs February 2021 ? February 2022, Not Seasonally Adjusted

Top 10 Rank 1

MSA Las Vegas, NV

2

Orlando, FL

3

Austin, TX

4

San Diego, CA

5

Dallas, TX

6

Los Angeles, CA

7

New York, NY

8

San Francisco, CA

9

San Antonio, TX

10

Houston, TX



Source: U.S. Department of Labor, Bureau of Labor Statistics

% Change 12.69% 9.20% 9.14% 7.53% 7.43% 7.36% 7.10% 6.90% 6.81% 6.47%

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download