The latest jobs report from the Bureau of Labor Statistics (BLS) revealed that the U.S. economy added a strong 287,000 non-farm payroll positions in June 2016. This figure is nearly 25 times larger than May 2016’s downward-revised addition of 11,000 jobs. This report came as a huge relief to economists worried about tumbling markets and concerned about an economic slowdown.
Total Non-Farm Monthly Job Growth
Meanwhile, the unemployment rate increased to 4.9 percent in June 2016, while the labor-force participation rate stayed roughly the same at 62.7 percent. June 2016’s monthly average hourly wages for all private, non-farm workers increased by 2 cents to $25.61.
The industries driving the most employment growth in June 2016 were leisure and hospitality with 59,000 jobs added, healthcare and social assistance with 58,000 jobs added, and information with 44,000 jobs added. Employment in construction and education remained steady, while mining lost 6,000 jobs.
Professional and business services continued its upward trend, adding 38,000 jobs in June 2016. So far this year, the industry has gained an average of 30,000 jobs per month, compared with an average monthly gain of 52,000 in 2015.
Florida Jobs Have the Lowest Pay
An analysis conducted by FloridaPolitics.com on the latest occupational employment data from the U.S. Bureau of Labor Statistics for 2015 shows that the Orlando-Kissimmee-Sanford metropolitan area has the lowest pay among the nation’s 50 largest employment centers. And Miami has pay rates at the second lowest spot. Additionally, Fort Lauderdale, Tampa-St. Petersburg, and Jacksonville are also among the lowest seven in the country when it comes to median pay for all surveyed jobs.
According to the BLS, the average mean pay annualized for all occupations was $30,520 per year in Orlando in 2015.
Average Median Pay in Florida, 2015
Florida’s economy relies on service jobs (typically tied to tourism), which often consist of low-wage positions. In many cases, these jobs pay less in Florida cities than in other places in the United States. For example, in Orland the three occupations with the most jobs are “retail salesperson,” “food preparation workers,” and “waiters and waitresses.” The BLS survey shows that these three jobs provide more than 120,000 jobs combined, representing over 10 percent of jobs in Orlando. However, none of these jobs has a median annualized pay of over $20,430.
Working From Home Could Get More Popular
A recent report by Global Workplace Analytics found that businesses could save $11,000 per person per year if they decided to let half of their employees who could do their work remotely start to work from home. Additionally, the employees themselves would save $2,000 to $7,000 per year in transportation costs.
Major findings from the report include: