TAMPA AREA ECONOMIC SUMMARY This summary presents a sampling of economic information and indicators for both Hillsborough County and the Tampa Bay Metropolitan Statistical Area (MSA). These economic indicators provide perspective on past economic performance as well as indicators for possible future performance. The goal of this report is to identify the smallest political jurisdiction and if data at the MSA level can be broken down into its respective counties, that has been done. Alongside the use of the Tampa MSA, comparisons to other Sun Belt Cities have been made to highlight trends and differences. PERCENT UNEMPLOYMENT: YEARLY AVERAGE (2004-) JURISDICTION 2004 2005 2006 2007 2008 2009 2010 2011 2012 National 5.5% 5.1% 4.6% 4.6% 5.8% 9.3% 9.6% 8.9% 8.1% 7.4% State of Florida 4.7% 3.8% 3.3% 4.0% 6.3% 10.4% 11.3% 10.3% 8.6% 7.2% Hernando County 5.6% 4.8% 4.4% 5.6% 8.6% 13.1% 14.2% 13.2% 10.9% 9.0% Hillsborough County 4.3% 3.7% 3.2% 4.0% 7.1% 10.4% 11.5% 10.2% 8.5% 7.0% Pasco County 5.0% 4.3% 3.8% 4.8% 7.4% 11.7% 13.0% 11.8% 9.9% 8.1% Pinellas County 4.4% 3.8% 3.3% 4.0% 6.4% 10.6% 11.5% 10.3% 8.5% 7.1% Source: Florida Department of Economic Opportunity, Local Area Unemployment Statistics, Statewide and All Areas: 2004-2012. http://www. floridajobs.org/labor-market-information/data-center/statistical-programs/local-area-unemployment-statistics 16.0 PERCENT UNEMPLOYMENT: YEARLY AVERAGE 14.0 12.0 UNEMPLOYMENT RATE (SA) 10.0 8.0 6.0 National State of Florida Hernando County Hillsborough County Pasco County Date included in this brochure reflects the recession occurring from Dec. 2007-Jun. 2009. 4.0 Pinellas County 2.0 0.0 2004 2005 2006 2007 2008 2009 2010 2011 2012 LABOR FORCE TRENDS IN HILLSBOROUGH COUNTY 2004 2005 2006 2007 2008 2009 2010 2011 2012 Labor Force 565,184 565,617 578,731 597,742 598,657 597,220 604,896 620,466 629,444 634,531 Employment 540,761 544,731 559,983 573,816 560,753 534,961 535,621 557,138 576,055 589,954 Unemployment 24,423 20,886 18,748 23,656 37,904 62,259 69,275 63,328 53,389 44,577 Unemployment Rate 4.3% 3.7% 3.2% 4.0% 6.3% 10.4% 11.5% 10.2% 8.5% 7.0% Source: Florida Department of Economic Opportunity, Local Area Unemployment Statistics, Statewide and All Areas: 2004-2012. http://www. floridajobs.org/labor-market-information/data-center/statistical-programs/local-area-unemployment-statistics
HILLSBOROUGH AREA EMPLOYMENT (NUMBERS IN THOUSANDS) AVERAGE Average annual change: 2012 to Industry Numeric change Percent change Natural resources and mining 10.5 0.4 3.4% Construction 29.7 2.5 8.3% Manufacturing 24.3 0.5 2.0% Trade, transportation & utilities 117.8 2.1 1.8% Information 16.6 0.3 1.7% Financial activities 59.7 2.8 4.7% Professional & business services 110.6 3.1 2.8% Education & health services 123.1 3.0 2.4% Leisure & hospitality 69.1 3.1 4.5% Other services 17.2 0.4 2.6% Public administration 25.1-0.4-1.8% Unclassified 0.1 0.0-2.9% Sources: Florida Department of Economic Opportunity, Labor Market Statistics Center, Quarterly Census of Employment and Wages, 2012 Annual Data; Quarterly Data. Compiled by the Hillsborough County City-County Planning Commission. HILLSOROUGH COUNTY: WHERE WORKERS LIVE (ALL JOBS) Count Tampa city, FL 94,074 Brandon, FL 31,726 Town n Country, FL 21,684 Riverview, FL 20,643 St. Petersburg, FL 15,597 Carrollwood, FL 11,164 Valrico, FL 10,396 Wesley Chapel, FL 9,987 Egypt Lake-Leto, FL 9,757 Lake Magdalene, FL 9,013 All other locations 355,641 Total working in Hills. but living elsewhere Total working & living in Hills. Total all jobs 589,682 42.1% 57.9% HOURLY WAGES FOR SELECTED OCCUPATIONS Source: U.S. Census Bureau, Longitudinal Employer- Household Dynamics, Hillsborough County Inflow-Outflow Analysis, 2011. 68% Percent of county residents living and working in the county. Average Wage Accountants and auditors $31.71 Librarians $26.78 Registered nurses $30.28 Customer service representatives $14.90 Construction laborers $12.92 Surgeons $103.26 Real estate sales agents $18.11 Clergy $21.38 Air traffic controllers $56.38 Roofers $15.51 Chief executives $96.90 Dishwashers $8.96 Preschool teachers $12.08 Source: Bureau of Labor Statistics, May Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates for the Tampa-St.Petersburg-Clearwater, Florida Metropolitan Area.
$50,000 PERSONAL INCOME SUMMARY: PER CAPITA PERSONAL INCOME (breakdown by select Metropolitan Statistical Areas) $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Atlanta MSA Charlotte MSA Dallas MSA Miami MSA Tampa MSA U.S. Department of Commerce, Bureau of Economic Analysis, Regional Data: Table CA1-3: Personal Income Summary, Per Capital Personal Income. Metropolitan Statistical Areas. Last updated May 30, 2014. $60,000 PERSONAL INCOME SUMMARY: PER CAPITA PERSONAL INCOME (BREAKDOWN BY TAMPA METROPOLITAN STATISTICAL AREA COUNTIES) $55,000 $50,000 $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Hernando, FL Hillsborough, FL Manatee, FL Pasco, FL Pinellas, FL Polk, FL Sarasota, FL U.S. Department of Commerce, Bureau of Economic Analysis, Regional Data: Table CA1-3: Personal Income Summary, Per Capital Personal Income. Metropolitan Statistical Areas. Last updated May 30, 2014.
6.0% CONSUMER PRICE INDEX FOR SELECTED METROPOLITAN STATISTICAL AREAS PERCENT YEAR-TO-YEAR CHANGE 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% -2.0% -3.0% 1990 1995 2000 2005 2010 Recession Tampa MSA Atlanta MSA Dallas MSA Miami MSA US AVERAGE Federal Reserve Bank of St. Louis, Federal Reserve Economic Data, Annual Consumer Price Index (Not Seasonally Adjusted). Compiled by the Planning Commission. CONSUMER CONFIDENCE INDEX: HILLSBOROUGH COUNTY Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. Florida 75 74 76 79 81 82 77 77 78 71 77 77 Men 75 72 78 77 82 84 79 76 82 72 82 79 Women 74 75 75 81 79 80 74 78 74 71 72 75 Under age 60 Over age 60 Income under $30,000 Income over $30,000 80 76 77 87 85 91 80 81 82 79 79 84 72 76 75 72 78 75 75 73 74 65 77 72 74 73 67 61 73 75 75 68 69 62 65 71 74 75 81 85 88 87 87 80 82 76 83 78 Source: University of Florida, Warrington College of Business Administration, Bureau of Economic and Business Research, Florida Consumer Confidence Index. http://www.bebr.ufl.edu/cci NOTE: The Consumer Confidence Index (CCI) is an indicator of consumer s perception of the economy and how they are expressing confidence through their spending choices and/or savings and investments. The lowest index possible is a 2; the highest is 150.
$450,000 CURRENT-DOLLAR GROSS DOMESTIC PRODUCT (GDP) BY METROPOLITAN STATISTICAL AREA $400,000 MILLIONS OF DOLLARS $350,000 $300,000 $250,000 $200,000 Atlanta Charlotte Dallas Miam Tampa $150,000 $100,000 2006 2007 2008 2009 2010 2011 2012* U.S. Department of Commerce, Bureau of Economic Analysis, Gross Domestic Product by Metropolitan Area. 2010 Advance Statistics. Gross Domestic Product by Metropolitan Area, Advance 2012 and revised 2001-2011. 900.00 800.00 HILLSBOROUGH COUNTY: MONTHLY TAXABLE SALES CATEGORIES IN MILLIONS (EXCLUDING NONDURABLE GOODS) 700.00 600.00 MILLIONS OF DOLLARS 500.00 400.00 300.00 200.00 100.00 0.00 2007M01 2007M03 2007M05 2007M07 2007M09 2007M11 2008M01 2008M03 2008M05 2008M07 2008M09 2008M11 2009M01 2009M03 2009M05 2009M07 2009M09 2009M11 2010M01 2010M03 2010M05 2010M07 2010M09 2010M11 2011M01 2011M03 2011M05 2011M07 2011M09 2011M11 2012M01 2012M03 2012M05 2012M07 2012M09 2012M11 m01 m03 m05 m07 m09 m11 AUTOMOBILE DURABLE GOODS TOURISM CONSTRUCTION BUSINESS Sources: Florida Legislature, Office of Economic and Demographic Research, Taxable Sales and Regional Economic Activity by County.
130 REGIONAL PRICE PARITIES: SELECT METROPOLITAN STATISTICAL AREAS & THE UNITED STATES (Regional Price Parities are regional price levels expressed as a percentage of the overall national price level for a given year. ) 120 PERCENT PRICE PARITIES 110 100 90 80 70 The national average price level is 100. 2008 2009 2010 2011 2012 60 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 2007-01-01 2007-03-01 2007-05-01 2007-07-01 2007-09-01 2007-11-01 2008-01-01 2008-03-01 2008-05-01 2008-07-01 2008-09-01 2008-11-01 2009-01-01 2009-03-01 2009-05-01 2009-07-01 2009-09-01 2009-11-01 2010-01-01 2010-03-01 MEDIAN SALES PRICES OF EXISTING HOMES (2007-) 2010-05-01 United States (Nonmetropolitan Portion) Atlanta (MSA) Charlotte (MSA) Dallas (MSA) Las Vegas (MSA) Miami (MSA) Tampa (MSA) U.S. Department of Commerce, Bureau of Economic Analysis, Regional Price Parities by Select Metropolitan Areas and the United States excluding all Metropolitan Areas, 2008-2012. http://www.bea.gov/itable/ Recession Average List Price Tampa MSA Average Sales Price Tampa MSA National Median Sales Price South Census Region Sales Price Sources: Greater Tampa Bay Assocation of Realtors, Four Year Sales and Inventory History 2006-2010; Four Year Sales and Inventory History 2010-2014. Federal Reserve Bank of St. Louis, Federal Reserve Economic Data, National Association of Realtors, National Median Sales Price, 2007-; South Census Region Sales Price. 2010-07-01 2010-09-01 2010-11-01 2011-01-01 2011-03-01 2011-05-01 2011-07-01 2011-09-01 2011-11-01 2012-01-01 2012-03-01 2012-05-01 2012-07-01 2012-09-01 2012-11-01-01-01-03-01-05-01-07-01-09-01-11-01
300.00 CASE-SCHILLER HOUSING PRICE INDEX: SELECTED SUNBELT CITIES (2004-2014) 250.00 200.00 150.00 100.00 50.00 0.00 2004-01-01 2004-04-01 2004-07-01 2004-10-01 2005-01-01 2005-04-01 2005-07-01 2005-10-01 2006-01-01 2006-04-01 2006-07-01 2006-10-01 2007-01-01 2007-04-01 2007-07-01 2007-10-01 2008-01-01 2008-04-01 2008-07-01 2008-10-01 2009-01-01 2009-04-01 2009-07-01 2009-10-01 2010-01-01 2010-04-01 2010-07-01 2010-10-01 2011-01-01 2011-04-01 2011-07-01 2011-10-01 2012-01-01 2012-04-01 2012-07-01 2012-10-01-01-01-04-01-07-01-10-01 2014-01-01 Recession TAMPA MIAMI ATLANTA CHARLOTTE LAS VEGAS DALLAS Sources: Federal Reserve Bank of St. Louis, Federal Reserve Economic Data, Case-Schiller Housing Price Index (Seasonally Adjusted). Compiled by the Planning Commission. RESIDENTIAL UNITS PERMITTED ANNUALLY BY HOUSING TYPE 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Detached Attached Apartments Mobile Homes Sources: Hillsborough County City-County Planning Commission, Annual Permit Activity: 2000-.
RESIDENTIAL PERMITS ISSUED BY TYPE (2000) 375 3% 4,290 36% 6,116 51% Detached Attached Apartments Mobile Homes 1,245 10% RESIDENTIAL PERMITS ISSUED BY TYPE (2005) 304 2% 1,483 8% Detached Attached Apartments 6,318 36% 9,339 54% Mobile Homes RESIDENTIAL PERMITS ISSUED BY TYPE () 33 0% 2,396 34% Detached Attached Apartments Mobile Homes Sources: Hillsborough County City-County Planning Commission, Annual Permit Activity: 2000-. 622 9% 4,107 57%