New data from the U.S. Bureau of Labor Statistics shows just how well the Orlando-area economy is doing. And it seems it's doing really, really well.
Orlando had the seventh-fastest-growing economy in 2015
Here's some great stats on the City Beautiful that should make you smile this morning, even if you haven't had your coffee yet:
- Orlando had the seventh-fastest-growing economy, as ranked by one-year percentage change in employment growth. Tampa ranked No. 10.
- Orlando had the eighth most-improved job growth rate since 2010. No other Florida metros made the top 10.
- Orlando had the 10th-best fastest-growing private economy, as ranked by one-year percentage change in employment growth. Tampa ranked No. 6.
Here are more details related to the data:
- In 2015, U.S. employment grew 2 percent. Among large metros, the highest growth was found in San Jose (4.4 percent), followed by Portland (3.8 percent), Grand Rapids (3.8 percent) and Austin (3.8 percent). Orlando employment, at No. 7, grew by 3.3 percent.
- Since 2010, the U.S. growth rate has increased 1.2 percentage points. The large metros showing the most improvement in 2015 (with the greatest increase in the annual growth rate) are Sacramento (+4.1 points), Las Vegas (+3.4) and Riverside (+3.2). Orlando, at No. 8, was up 2.1 points.
- In 2015, U.S. private sector employment grew 2.3 percent. Among large metros, the highest growth is found in San Jose (4.8 percent), followed by Austin (4.4 percent), Grand Rapids (4.1 percent) and San Antonio (4 percent) follow. Tampa, at No. 6, had 3.8 percent growth, while Orlando, at No. 10, grew 3.5 percent.
Orlando rents rise again in March
A new report from Abodo shows that Orlando had another rent increase (+3 percent) from February to March, continuing the trend of rent increases in the metro area after a 13 percent increase from January to February and a 5 percent increase from December 2015 to January 2016. The good news is that Orlando didn't make the top 10 for largest rent increases, as it did last month. From February to March, Portland, Ore. (+14 percent); Indianpolis (+12 percent); Pittsburgh (+12 percent); St. Paul, Minn. (+11 percent) and Columbus, Ga. (+10 percent) topped the list. Tucson, Ariz., posted the biggest drop month-over-month, with a 17 percent decrease