This month, Jacksonville ranked 5th hottest job market in the United States and the top market in Florida by The Wall Street Journal this week. The rankings measured five factors: the unemployment rate, labor-force participation rate, job growth, labor-force growth and wage growth in 2021.
The article cited that over the last two years, in particular, the region has attracted jobs in health care, technology and financial services “relatively high paying jobs and those kind of jobs have a very strong multiplier effect,” which helps add employment across the local economy.
The region offers Fortune 500 companies, 100+ divisional, regional and corporate headquarters and innovative startups. Since the beginning of 2020, the Jacksonville region welcomed more than 5,800 new jobs and more than $1.6 billion in private capital investment.
Recent headquarter relocations or expansions include data analytics powerhouse Dun & Bradstreet, fintech firm NYMBUS, leading U.S. flag Ro-Ro carrier shipping organization American Roll-On Roll-Off Carrier Group, contact lens manufacturer Johnson & Johnson Vision and aerospace visionary Redwire Space.
The job market, aided by a cost of living which is lower than the U.S. average, Florida’s zero personal state income tax and a high quality of life, there are an increased number of new residents planting roots in Northeast Florida. There were nearly 40,000 additional residents in the last year – an average of 109 new residents per day.