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Presentation transcript:

www.theFloridaScorecard.org Thousands of data points Free to use – updated as soon as data is released Both at State and County Levels (use View County Data dropdown) FutureCast of New Jobs Needed by 2020 and 2030 (blue button) Forecast of Population by 2030 Downloadable Charts Downloadable Data

Year-over-Year Job Creation Category Dec. 2016 – Dec 2017 Jobs Percent Professional & Business Services 47,200 3.6% Construction 43,900 9.1% Trade, Transportation & Utilities 33,600 1.9% Education & Health Services 22,300 1.8% Manufacturing 16,200 4.5% Financial Activities 15,300 2.8% Leisure & Hospitality 9,100 0.8% Data Source: Florida Department of Economic Opportunity

Category 2016 Growth Rate 2017 Professional & Business Services 46,200 3.7% 47,200 3.6% Construction 22,300 5.1% 43,900 9.1% Trade, Transportation & Utilities 35,600 2.1% 33,600 1.9% Education & Healthcare Services 46,800 3.8% 1.8% Manufacturing 7,000 2.0% 16,200 4.5% Leisure & Hospitality 53,100 4.6% 9,100 0.8%

December 2016 through December 2017 Job Creation December 2016 through December 2017 U.S. – 1.4% Growth Florida – 2.5% Growth 11 Counties Lost Jobs in 2017 Top Counties: Miami-Dade 41,683 Orange 27,512 Broward 26,518 Top Growth Rates: Osceola 4.1% Orange 4.0% Seminole 4.0%

Forecast versus Actual Year-over-Year Category 2017 Forecast 2017 Year-over-Year Percentage Deviation from Forecast Jobs 190,000 195,000 2.63% Population 330,000 327,811 0.66% That means we have an increase of 898 net new Floridians every day

Variables used in Florida’s Leading Economic Index Florida Consumer Sentiment Florida Trade-Weighted Dollar Open Jobs Housing Starts

Variables used in Florida’s Leading Economic Index Florida Initial Unemployment Claims (Federal Reserve-FRED) Commercial Airport Activity (FAA-ATADS) Interest Rate Yield Spread Unemployment Claims – big spike for one week after Hurricane Irma – trend is downward Commercial Airport Activity – Commercial Carriers takeoffs and landings. Trend is definitely upward. Note the spike every year – it’s March. Yield Spread – 2 versus 10 year constant maturity. You may have heard the financial commentators talking about “flattening of the yields curve”. That has been happening. When it gets to inverted (i.e. 2 year rates higher than 10-year rates) that can signal a recession is coming. Not necessary, not sufficient, but could be important. But it matters which one is moving toward the other – and that’s something I take into account when doing the calculations.

January additions to The Florida Scorecard The Florida Leading Index forecasts the Job Creation in Florida for the upcoming 6 months.

January additions to The Florida Scorecard The Florida Leading Index forecasts the Job Creation in Florida for the upcoming 6 months. This new addition to the Florida Scorecard forecasts the probability that Florida will be in a recession in the next 9 months.

Since January 1 at 12:01 a.m.: $831.1 million 35,382 people Florida’s Adjusted Gross Income has grown by: $831.1 million Florida’s Population has grown by: 35,382 people As of February 9, 2018 at 9:30 a.m.

Population Growth 2016-2030 Top 8 Counties expected to get 56.9% of all growth County Growth Rate Miami-Dade 24.5% Orange 36.7% Hillsborough 33.7% Broward 18.7% Palm Beach 20.1% Lee 34.9% Duval 24.9% Osceola 61.6% Top Percentage Growth Sumter 64.8% Osceola 61.6% St. Johns 54.0%

Population Changes by Age Group 2016-30 Highest Growth Rates in Age 65+ Categories: Increase of 2+ million in Florida by 2030 Loss of Potential High Spenders in Age 50-59: 160,745 People less in 2030

A Path To Prosperity First Florida Chamber Foundation Prosperity Summit – November 28, 2017 in Tampa Next Annual Prosperity Summit - May 2-3, 2018 in Orlando Prosperity Summit. On November 28th in Tampa, we had our first one. We discussed our “Less Poverty, More Prosperity Fiscal Cliffs Report” and had former Speaker Will Weatherford and many other business and non-profit leaders. We’ll discuss even more topics at the next one – will talk about how the business community can lead the way to Prosperity for more people and communities in our state. Join us on May 2nd and 3rd in Orlando at this important event.

Kids in Poverty in Florida Top Number: Number of kids in Poverty by County Bottom: Under-18 Poverty Rate Florida: 869,892 kids in poverty 21.3% Poverty Rate for Under-18 Year Olds