Alabama and Florida cities rank on large city growth charts

ArrowsUpA recent look by the U.S. Bureau of Labor Statistics finds three Florida cities in the top 10 fastest growing economies in 2015. Headlight Data put the statistics together by highlighting the major metro areas in the country with one million or more residents. While Austin topped the list, Orlando, Jacksonville, and Tampa ranked in the top 10 metro areas with the fastest growing employment. Birmingham and Miami also made the list but further down.

The Bureau of Labor Statistics looked at one-year growth patterns. Last year Orlando saw a 4.2 percent growth rate in employment, while Jacksonville experienced 3.6 percent, and Tampa recorded a 3.5 percent growth rate. Miami saw a 2.3 percent growth rate to fall in the middle, while Birmingham saw a positive .7 percent growth rate which landed it in the lower half of major metro areas. All five Alabama and Florida cities also recorded a major positive growth between 2010 and 2015.

When it comes to most improved growth from private sector jobs, Orlando is experiencing a five percent growth, while Tampa had four percent, Jacksonville with 3.6 percent, Miami with 2.6 percent, and Birmingham with one percent growth. On salary growth, Birmingham leads the local group with a 6.8 percent growth, followed by Jacksonville with 5.1 percent, Tampa with five percent, Orlando with 3.8 percent, and Miami at 2.1 percent growth.

This is certainly good news for credit unions in Alabama and Florida. You can read the full report and download the numbers on Headlight’s website.