The Fort Lauderdale-based Entrepreneurs' Organization says the job market is booming in South Florida. They've recently conducted a survey where 75% of participants state that they plan to add jobs over the next six months, an increase of 12% from the same survey last year.
85% of those polled also indicated that they expect higher revenues and profits in the next six months. Just under 70% of companies that participated have had higher revenues and profits over the past six months, and over 50% of them have hired new staff.
A whopping 90% of respondents said that the economic climate around Fort Lauderdale is ripe for starting a new business.
The local Entrepreneurs' Organization Chapter is one of the largest in the world with 190 members. Those members run businesses that produce about 10,000 jobs and $2 billion in annual revenue.
Entrepreneurs' Organization is not the only outfit with positive things to say about the job market in Fort Lauderdale. Staffing company ManpowerGroup published a quarterly forecast earlier this month that stated that 28% of South Florida employers expect to hire over the next three months.
Just 2% of companies in the region actually plan to reduce staff during the next quarter. South Florida's job growth in 2017 came in at 3%, ranking second in the state and well above the national average.
The tech industry is particularly surging in Fort Lauderdale. The locally-based recruiting firm, ProTech, said in their annual report published this month that the tech companies in South Florida are hiring at their highest rate in 16 years.
According to the report, 69% of tech firms expect to hire workers in 2018, and none of the companies polled said they plan to reduce staff. The survey said that salaries in the industry range from $62,000 for a tech support specialist to $175,000 for an IT executive.
Broward County-based Ultimate Software was the top-ranked tech company on Fortune magazine's "Top 100 Companies to Work For" list that was released in February. However, tech is not the only industry that shines in the area.
JM Family Enterprises made Fortune's list for the 20th straight year. More big business is on the way as well with Hard Rock International moving their worldwide headquarters from Orlando to nearby Davie next month.
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Cover photo courtesy of Pexels