The Job Market in Orlando 2018
Is now a good time to find jobs in Orlando?
The Orlando job market is currently among the best places to find work in the nation. Currently ranked as the 13th best city to find work, Orlando has seen a continually improving job market since 2015. Orlando has been the highest ranked metropolitan city in job growth for three years in a row.
An improving job market in 2018
Throughout 2017, 46,700 jobs were created and employment grew by 3.8%. Similar growth is expected this year, with the unemployment rate lower than it has been in over a decade. The steady growth of the job market indicates the growth of Orlando as a whole, seen through the expansion of Orlando businesses and steadily increasing population.
Being the highest ranked metropolitan city in job growth for three years shows that it’s not just a fluke – Orlando really is growing. In the next five years, Orlando could grow by nearly 17%, the second highest in Florida. The increase in available jobs allows for a larger population and a larger population generally leads to even more jobs being created. Consider that each new person is likely to eat at restaurants, shop, visit attractions, and visit the doctor; to meet such a demand, even more workers are needed. This cycle will ensure that Orlando continues to grow, even beyond 2018.
Best industries to work in this year
Orlando is known for tourism and hospitality – nearly ⅓ of the workforce works within those industries. That said, there is a constant need for more workers in hospitality and leisure. The industry with the greatest growth in Orlando is healthcare. In fact, there is a shortage of workers within healthcare in Orlando. Employers are also looking for those in construction and skilled trades, such as plumbers, welders, painters, and mechanics.
Finding workers is more difficult
88% of companies have current job openings in Central Florida, so it comes as no surprise that employers are on the hunt for qualified workers. With that said, it has become more difficult to fill open positions for a number of reasons. Employers are not always getting qualified candidates for their job posts, costs of hiring are increasing, and the time it takes to hire is taking longer than ever before.
So what’s the disconnect? More people are moving to Orlando and more jobs are available, but the reducing unemployment rate is what is making it difficult for employers to find the right people. When fewer people need jobs, employers have to adapt and use different strategies to hire qualified people, especially when skilled trades and construction jobs are in high demand.
Employers have needed to adapt, and therefore have begun using new recruiting strategies to fill open positions. One alternative to both job boards and staffing agencies is tilr, which matches companies to qualified workers. This can help companies who have issues getting qualified candidates, have a small budget for hiring, or are spending too much time from job requisition to hire.
The overall health of the Orlando job market in 2018
There are more open opportunities than ever in Orlando, which is a great thing – Orlando is certainly growing, but it can be worrying for companies. A high number of open opportunities means that it’s easier to find work, but it also means there are a lot of positions that companies are having trouble filling. The cycle of jobs creating growth and growth creating jobs in Orlando will likely continue, meaning Orlando will maintain a healthy job market for years to come.