Jacksonville Ranked #2 Hottest Job Market by The Wall Street Journal
Last week, Jacksonville ranked the 2nd hottest job market in the United States and the top market in Florida by The Wall Street Journal. The rankings measured five factors: the unemployment rate, labor-force participation, job growth, labor-force growth and wage growth in 2023.
According to the report, Jacksonville’s high ranking and continued growth is due to various companies relocating from the Northeastern corridor to Jacksonville – which is no surprise, considering Jacksonville was the #1 major U.S. city for corporate relocations from 2022 to 2023 according to SEC data.
More than 150 corporate, regional and divisional headquarters currently operate in the Jacksonville region, showing there is no slowing down of corporate operations demand. Recent headquarter relocations or expansions include London-based fintech company Paysafe, data analytics powerhouse Dun & Bradstreet, leading U.S. flag Ro-Ro carrier shipping organization American Roll-On Roll-Off Carrier Group, contact lens manufacturer Johnson & Johnson Vision, aerospace visionary Redwire Space and more.
Florida dominated the top 10 rankings with four spots: Jacksonville rising from third last year to second this year and Orlando, Tampa and Miami joining the list. The report states that Florida remains a compelling destination for remote workers drawn to the state’s affordability and absence of state income tax.
The job market, aided by a cost of living which is lower than the U.S. average, innovative environment and high quality of life continue to draw people and businesses from across the world to plant their roots in Northeast Florida.