Published statistics lag by several weeks in providing a real time picture of Florida’s employment situation. Each new release revises previous month’s figures as new information is provided. While employment statistics traditionally use year-over-year comparisons, we have provided a month-to-month snapshot showing the immediacy of economic changes in the state. Download Report
The COVID-19 turbo charged many industrial markets as e-commerce as well as firms tied to logistics and delivery expanded to service customers forced to stay home due to lockdowns. Continued confidence in growth is evident in the amount of construction deliveries and projects under construction in most Florida markets. Florida’s unemployment rate was 7.6% in[…]
Florida continues to see improvement on the job front over the summer. Florida lost 1,178,100 jobs from February to April 2020 and has since gained back almost half of the jobs lost, +572,200 jobs. On a month-to-month basis, payrolls increased by 101,000 jobs in July while the unemployment rate increased 1,000 basis points to 11.3%. The[…]
Florida experienced a 12.8% YOY decrease in industrial investment sales through the first half of 2020. Orlando and Miami were the only markets to experience an increase at the mid year, up 104.4% and 29.2% respectively on sales that hit in the first quarter. All markets experienced a substantial decrease in sales during the second[…]
Traditional year-over-year comparison for job growth in Florida paint a bleak picture with the state losing over 850,000 jobs in the last 12-months. On a month-to-month basis, job growth in Florida was positive in every major industry group. Payrolls increased by 182,000 jobs last month but the unemployment rate still increased 70 basis points to[…]
Almost every major industry in Florida saw declines in April, with tourism-related metros leading in losses. Payrolls fell by over 1.0 million jobs during the month and the unemployment rate spiked to 12.9% from 4.4%. This rate under represents the true number of unemployed. Over 16% of Florida’s labor force applied for unemployment insurance over[…]
Sam’s Club last week reintroduced retail space to a former store in Tampa, Florida that the company had converted to an eCommerce fulfillment site, according to local reports. The store shuttered last January as part of the company’s sweeping closures and began filling online orders several months later. The retail space, located in what was[…]
Axios recently published an article ranking the top 5 Counties for attracting job talent based on population. Duval County, Florida (Jacksonville) ranked number 1! The article notes that Jacksonville’s job growth has been bolstered by the introduction of Amazon and Wayfair distribution centers. Read the full article here!
Cushman & Wakefield’s Florida Industrial Logistics Report explores the state’s unique network for moving goods from entry points to markets. The report also explores how Florida’s combination of ports, rail lines and highway systems play an integral part in supply chains that service customers. We follow a by the numbers approach in the report that[…]
“Economists love to predict recessions,” admits Kevin Thorpe, chief economist and global head of research for Cushman & Wakefield. “The running joke is we were successful predicting nine of the last four,” he said Thursday at a NAIOP Commercial Real Estate Development Association Northeast Florida Chapter luncheon. Actually, most economists are “pretty optimistic about this[…]
Strong Market Fundamentals The Jacksonville Metropolitan Statistical Area (MSA) saw significant job growth in the second quarter of 2018. The region continued to be a magnet for business relocations and expansions which fueled solid gains in population. The unemployment rate fell to 3.2% in May, down -70 basis points (bps) over the last 12 months[…]
Tampa’s Mike Davis and Rick Brugge, along with Jacksonville’s Karl Johnston and Tyler Newman, and Michael Lerner of Orlando, represented GIV Imeson, LLC in the sale of Jacksonville’s largest commercial building, One Imeson Distribution Center. The two-story, 1,701,684-square-foot (sf) distribution and office building sold for $47.75 million. Totaling 72.5 acres, the property also includes a 12.3-acre container storage area, as well as a[…]
Florida Warehouse Worker In this report, Cushman & Wakefield analyzes labor costs and availability for warehouse workers in Florida. It also highlights the challenges many firms face in hiring and retaining employees. Florida’s elevated population and job growth rates support a rising consumer market making it a magnet for expansion by eCommerce companies which today[…]
ORLANDO, February 22, 2018 – Cushman & Wakefield has released its 2018 Florida Population Reports, which detail projected population growth statewide and in nine major markets throughout Florida. The overall report predicts that Florida’s population will increase by just over 450,000 people in 2018, as compared to 430,000 in 2017. In the next five years,[…]
Aided by a rising economic tide, the Jacksonville Port Authority posted record numbers for shipping automobiles and cargo containers during the fiscal year that ended Sept. 30. The port authority’s terminals broke through the 1 million mark for cargo container units, posting a 7-percent annual increase in shipments of the metal boxes that contain a[…]
A recent article was released from Time.com on the Most Up-and-Coming Cities in America. We are proud to live and work in Jacksonville,FL which is ranked #2 overall. Tampa and Orlando also made the top 10! Click on the photo below for a link to the article!
Cushman & Wakefield has released it’s second annual Florida Industrial Logistics Report highlighting Florida’s major logistics markets. Florida’s logistics network services the 3rd most populous and the 8th most dense state in the nation. It is at the crossroads of growing north-south and east-west trade lanes, which will have access to more than 1.0 billion consumers[…]
Although it might seem Amazon’s new distribution center would threaten existing shipping companies, local logistics companies are buzzing about the opportunities it will bring. Read the Jacksonville Business Journal article here!
Cushman & Wakefield pulled together a graphic highlighting why Florida is the ideal location for e-commerce business. E-commerce and the growth of online shopping is changing the retail landscape and the development of the last mile supply chain strategy is driving efficiences and disrupting traditional business models. Florida is a prime location for e-commerce tenants.[…]