What’s in a projection?
The Department of Economic Opportunity’s yearly glimpse at the future of Florida jobs was achieved through the analysis of three sets of data:
- Quarterly Census of Employment and Wages (QCEW), which measures employees and wages, industry by industry
- Occupational Employment Statistics (OES), measuring workers and wages in non-farm industries
- Current Population Survey (CPS), a monthly measure of labor force stats for the United States as a whole
Using information collected from these sources, the Department of Economic Opportunity was
able to make projections on the employment numbers of each industry, broken down by
workforce development area. So, what does the future of industries’ employment in Area 11—
Flagler and Volusia counties—look like? Below, get to know some of the notable areas of growth.
Building tomorrow
The construction industry has been thriving in the Greater Daytona Region recently—and
according to the Department of Economic Opportunity, this trend is not expected to subside
anytime soon.
In fact, through 2027, this industry is projected to grow by 12.5 percent overall. Within the
construction industry, the field of specialty trade contractors is especially prime to expand, with a
projection of 16.6 percent growth through 2027.
A place to call home…
According to U.S. News & World Report, Florida is the No. 3 state in the nation for overall
growth—so perhaps it comes as no surprise that home-focused industries are expected to grow in
the near future! Here in the Greater Daytona Region alone, that includes a projected 5.8 percent
increase in furniture and home furnishing stores and 13.8 percent increase in building material
and garden equipment and supplies dealers. Not only is this good news for the job market, but for
businesses considering an expansion to the Greater Daytona Region—these projections point to a
healthy future of homeownership, painting the area as a prime place to live and work for years to
come.
… or your home away from home
Of course, the Greater Daytona Region also serves as a second home—or popular vacation spot—
for many people, and employment projections in the leisure and hospitality industries highlight
the area’s thriving tourism market. Air transportation employment is expected to grow 15.2
percent, as local airports become even more equipped to serve tourists and business travelers
alike. The accommodations and food services industry is expected to grow by 15.9 percent, and
support activities for transportation (such as mechanics, service technicians, material movers and
more) by 7.6 percent.
These projections help give employers an idea of the trends and changes that may shape the years
ahead. To stay up-to-date with these developments in real time, stay tuned to Team Volusia! We
are the go-to resource for local businesses, as well as those considering expanding to the Greater
Daytona Region, and look forward to the chance to helping inform your next move. Just contact us
today to learn more.
Previous Article
Next Article
