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Office using job growth leans towards financial activity to start the year

  • Office using jobs, which have been collectively on the rise across the Tampa Bay MSA over the past five years, saw a shift to start the new year. Financial activity firms (finance, insurance and real estate) hedged out the professional and business service sector in year over year job growth. While financial activities has historically trailed other office using sectors, the new tax/business climate in Florida and the U.S. could be an underlying factor to the recent growth. According to the latest data from the BLS, the financial activities and professional and business service industries saw February year over year job growth of 3.8 and 3.6 percent, respectively.

  • As Tampa’s office market continues to perform, and firms choose the region for relocation or expansion, office using jobs are expected to continue to climb. In fact, firms that will be attracted to the area by the latest office developments in Westshore – and those edging closer to breaking ground downtown – will be calling upon Tampa’s labor market to fill brand new positions. 

Source: JLL Research, Florida DEO, BLS

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