W est P alm B each - B oca R aton - B o y nton B each
Short Term Outlook for West Palm Beach-Boca Raton-Delray Beach, FL (Division of Miami MSA) March 2022 Forecast 2022:1
2022:2
2022:3
2022:4
2023:1
2023:2
2023:3
2023:4
2024:1
2024:2
2024:3
2024:4
2025:1
Personal Income (Billions $) Total Personal Income Pct Chg Year Ago Wages and Salaries Nonwage Income
140.7 -5.2 47.8 92.9
143.4 3.4 48.9 94.5
145.8 4.9 49.6 96.2
147.4 5.1 50.2 97.2
149.6 6.3 50.9 98.7
151.8 5.9 51.6 100.2
154.1 5.7 52.2 101.9
156.3 6.0 52.8 103.5
158.8 6.1 53.5 105.3
160.8 6.0 54.2 106.7
163.0 5.8 54.9 108.1
165.2 5.7 55.6 109.6
167.6 5.6 56.3 111.3
Real Personal Income (12$) Pct Chg Year Ago
106.9 -10.3
108.2 -1.2
109.5 1.0
110.3 2.5
111.6 4.4
112.7 4.1
113.9 4.0
115.0 4.2
116.2 4.2
117.2 4.0
118.2 3.8
119.2 3.6
120.3 3.5
Per Capita Income (Ths) Real Per Capita Income (12$)
93.6 71.1
95.2 71.9
96.6 72.6
97.4 72.9
98.6 73.5
99.7 74.0
100.9 74.6
102.0 75.0
103.3 75.6
104.3 76.0
105.3 76.4
106.4 76.7
107.6 77.2
Average Annual Wage (Ths) Pct Chg Year Ago
74.2 6.1
75.3 4.3
75.8 3.7
76.3 3.4
76.9 3.6
77.5 3.0
78.1 3.0
78.8 3.3
79.5 3.4
80.2 3.5
81.0 3.7
81.8 3.8
82.6 4.0
Establishment Employment (Place of Work, Thousands, SA) Total Employment Pct Chg Year Ago
641.5 4.9
646.8 4.5
651.0 3.4
655.6 3.4
659.4 2.8
663.0 2.5
665.8 2.3
667.9 1.9
670.3 1.7
672.8 1.5
675.3 1.4
677.4 1.4
679.2 1.3
Manufacturing Pct Chg Year Ago
20.5 3.6
20.5 4.4
20.4 1.6
20.5 0.2
20.4 -0.5
20.5 -0.2
20.5 0.6
20.6 0.6
20.6 1.1
20.6 0.7
20.6 0.5
20.6 0.2
20.6 -0.1
Nonmanufacturing Pct Chg Year Ago
621.0 5.0
626.3 4.5
630.6 3.4
635.1 3.5
639.0 2.9
642.5 2.6
645.2 2.3
647.3 1.9
649.7 1.7
652.2 1.5
654.7 1.5
656.8 1.5
658.6 1.4
40.3 5.4
40.2 7.5
40.2 3.8
40.2 0.3
40.1 -0.4
39.9 -0.8
39.8 -1.0
39.7 -1.3
39.7 -1.0
39.7 -0.5
39.8 0.1
39.9 0.6
40.1 1.0
Trade, Trans, & Utilities Pct Chg Year Ago
117.9 5.0
119.6 6.1
119.4 3.8
117.5 1.2
116.9 -0.9
118.4 -1.0
118.1 -1.1
118.2 0.6
117.6 0.6
116.1 -2.0
115.8 -1.9
115.5 -2.3
115.1 -2.2
Wholesale Trade Retail Trade Trans, Wrhsng, & Util
24.7 77.7 15.6
24.8 79.0 15.8
25.7 77.5 16.2
25.9 75.3 16.3
26.1 74.3 16.5
26.1 75.9 16.4
26.2 75.4 16.5
26.4 75.3 16.6
26.7 74.1 16.8
27.0 72.0 17.0
27.2 71.4 17.1
27.4 70.8 17.3
27.7 70.0 17.5
Information Pct Chg Year Ago
10.0 7.5
10.0 5.0
10.1 1.0
10.2 3.7
10.3 3.3
10.5 4.1
10.3 1.7
10.1 -0.9
10.2 -1.5
10.3 -1.4
10.4 1.0
10.4 2.9
10.5 3.4
Financial Activities Pct Chg Year Ago
45.7 3.8
46.0 6.2
46.8 5.9
46.7 2.8
46.8 2.2
46.2 0.4
46.0 -1.6
46.1 -1.2
46.4 -0.7
46.8 1.2
47.0 2.1
47.2 2.5
47.5 2.3
Prof & Business Services Pct Chg Year Ago
121.8 2.4
121.4 3.5
122.5 2.0
122.6 0.5
123.5 1.4
123.3 1.5
123.8 1.1
125.0 2.0
126.7 2.6
128.1 3.9
128.9 4.1
129.7 3.8
130.7 3.1
Educ & Health Services Pct Chg Year Ago
107.3 4.2
108.1 3.7
108.6 2.1
108.5 1.7
108.8 1.4
109.0 0.8
109.5 0.8
110.0 1.4
110.6 1.6
111.2 2.0
111.6 2.0
111.9 1.8
112.4 1.6
Leisure & Hospitality Pct Chg Year Ago
86.2 13.1
87.8 3.3
88.7 4.6
94.4 13.6
96.8 12.2
99.1 12.9
101.3 14.2
101.4 7.5
101.2 4.6
102.1 3.0
102.7 1.3
103.1 1.7
102.7 1.5
Other Services Pct Chg Year Ago
31.5 4.9
32.0 3.0
32.6 4.7
32.6 4.2
32.7 3.5
32.4 1.2
32.3 -0.7
32.5 -0.4
32.8 0.4
33.1 2.4
33.5 3.5
33.8 4.0
34.1 4.1
7.0 0.0
7.0 2.9
7.0 3.3
7.0 -1.6
7.0 -1.1
7.0 -0.7
7.0 -0.4
7.0 -0.3
7.0 -0.2
7.0 -0.2
7.0 -0.1
7.0 0.2
7.0 0.3
53.1 1.1
54.1 4.7
54.7 3.7
55.5 6.3
56.2 5.9
56.8 5.0
57.1 4.3
57.3 3.2
57.5 2.3
57.8 1.8
58.0 1.6
58.3 1.7
58.6 1.8
Population (Ths) Pct Chg Year Ago
1503.2 0.5
1506.5 0.6
1509.8 0.8
1513.5 0.9
1517.8 1.0
1522.2 1.0
1527.2 1.2
1532.3 1.2
1537.4 1.3
1542.5 1.3
1547.7 1.3
1552.9 1.3
1558.0 1.3
Labor Force (Ths) Pct Chg Year Ago
754.0 4.4
758.8 3.0
761.9 2.4
764.7 2.0
766.8 1.7
769.4 1.4
771.7 1.3
774.0 1.2
776.0 1.2
778.7 1.2
781.3 1.2
784.2 1.3
786.7 1.4
Construction & Mining Pct Chg Year Ago
Federal Government Pct Chg Year Ago State & Local Government Pct Chg Year Ago Other Economic Indicators
Unemployment Rate (%) Total Housing Starts Single-Family Multifamily
3.7
3.4
3.2
3.0
3.0
3.1
3.1
3.2
3.2
3.3
3.3
3.5
3.5
7096.1 4122.3 2973.8
7338.4 4363.6 2974.8
7779.2 4716.7 3062.5
8139.3 4987.2 3152.1
8534.2 5200.7 3333.4
8899.5 5386.0 3513.5
9189.0 5560.0 3629.1
9367.2 5740.7 3626.5
9487.8 5811.7 3676.2
9514.1 5851.7 3662.3
9522.5 5892.3 3630.2
9569.6 5900.5 3669.2
9590.1 5960.1 3629.9
Institute for Economic Forecasting
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