Jobs and employment drive real estate values in Tampa Bay

In Feb 2015 Associated Press published the  annual economic rankings of 300 cities worldwide. The analysis was conducted  by the Brookings Institution and JPMorgan Chase. Tampa moved up 30 places from last year on the list, to 141. The top place in the world was Macau

Historical trends show that  Tampa Bay follows the general trend of the US economy but what ever happens in the US is magnified in Tampa Bay. The highs are higher and the troughs are deeper

According to TBBJ Overall, the number of jobs in Florida was 8,248,800 in March 2016, up 234,300 compared to a year ago. The state’s seasonally adjusted unemployment rate was 4.9 percent in March 2016, down from 5.6 percent a year ago. That compares with the U.S. unemployment rate, which stood at 5.0 percent in March.

Looking at Tampa Bay specifically The unemployment rate for Hillsborough and Pinellas counties each stood at 4.2 percent while the unemployment rates for Pasco, Polk and Sarasota were 5.0 percent, 5.2 percent and 4.3 percent, respectively. The rates for Hernando and Manatee counties were 5.8 percent and 4.3 percent, respectively.

Employment in the Tourism industry is an important factor in the Florida economy. Tourism continues to grow in Florida. That’s good for business. That’s good for investment in real estate.
In the first three months of 2017, 31.1 million people visited Florida. That is a 2.5% increase over the same period for 2016.  During that period, Hillsborough County brought in 10.1 million tourists dollars. Pinellus County was the beneficiary of $17.5 million from tourists
In March and April 2017 Tampa international airport and had its busiest period ever. So many tourists come to visit Florida for spring break. This was helped by the expanding routes for Tampa international airport in, both domestic and international. The airport for predicts that 2017 could be a record breaking your for travel