FASTEST AND SLOWEST GROWTH INDUSTRIES, 2014 TO 2018

Southwest Florida’s economic growth continued to strengthen from 2014 to 2018, as shown in Table 3-1 and Chart 31. During the time period, the region has experienced an increase of 54,948 employees. The fastest-growing industries from 2014 to 2018 were construction (16,673 employees, 47.8 percent increase), accommodation and food services (8,311 employees, 15.2 percent increase), health care and social assistance (7,143 employees, 14.4 percent increase), retail trade (6,784 employees, 10.1 percent increase), and administrative and waste services (4,848 employees, 19.5 percent increase). Over the same time period, the slowestgrowing industries were agriculture, forestry, fishing and hunting (3,198 employee decline, 26.1 percent decrease), information (575 employee decline, 11.6 percent decrease), management of companies and enterprises (509 employee decline, 13.7 percent decrease), utilities (20 employees, 1.8 percent increase), and mining, quarrying, and oil and gas extraction (72 employees, 27.8 percent increase).

While the construction industry continues to recover from the recession, both the accommodation and food services and retail trade have grown immensely since 2011. The growth can be attributed to an increasing population in the region, along with increases in tourism as well. While most industries were shown to have growth over this time period, information, management of companies and enterprises, and agriculture, forestry, fishing and hunting all experienced contractions from 2014 to 2018.

Table 3-1: Industry Employment Change

2014 to 2018

Industry

Construction Accommodation and Food Services Health Care and Social Assistance Retail Trade Administrative and Waste Services Professional and Technical Services Real Estate and Rental and Leasing Other Services, Except Public Administration Manufacturing Transportation and Warehousing Wholesale Trade Arts, Entertainment, and Recreation Finance and Insurance Educational Services Unclassified Mining, Quarrying, and Oil and Gas Extraction Utilities Management of Companies and Enterprises Information Agriculture, Forestry, Fishing and Hunting

2014

34,898 54,624 49,719 67,067 24,923 18,227 9,738 14,711 9,516 5,791 10,327 15,079 10,673 4,482 188 259

1,141 3,718 4,967 12,262

2018

51,571 62,935 56,862 73,851 29,771 21,606 12,291 17,105 11,816 7,223 11,546 16,145 11,152 4,953 274

331 1,161 3,209 4,392 9,064

Total

352,310

Source: Quarterly Census of Employment and Wages, Bureau of Labor Statistics

407,258 Growth

16,673 8,311 7,143 6,784 4,848 3,379 2,553 2,394 2,300 1,432 1,219 1,066 479 471

86 72 20 -509

-575 -3,198

54,948 Percent

47.8% 15.2% 14.4% 10.1% 19.5% 18.5% 26.2% 16.3% 24.2% 24.7% 11.8% 7.1% 4.5% 10.5% 45.7% 27.8% 1.8% -13.7% -11.6% -26.1%

15.6%