Labor Market Outlook for 2021 Graduates

Outlook

As Pasco County and the surrounding areas continue to recover from the pandemic, employers are eagerly bringing back positions that were furloughed or eliminated last spring and summer. This recovery can be seen in the number of job postings which is up 39% compared to this time last year according to Chmura Economics & Analytics’ JobsEQ technology platform. To meet this demand workers are returning to the labor force which stood at 247,807, in the month of April, which is well above the 230,728 workers we saw last April according to the Florida Department of Economic Opportunity. These mean plenty of opportunities for graduates looking to jump into the pool.

Wages

Wages have also continued their march upward, a trend that Pasco County has seen for the past 11 years. In that time wages have increased 28% and now stand at $42,282 on average.

Certain industries have seen larger wage growth than others as well. Data, Processing, Hosting, and Related Services saw wages increase 82% over the past 3 years. The ability to work remotely and the ever-growing integration of information technology across all industries are a few of many factors that have contributed to this growth, and for graduates going into the industry, we would expect multiple offers in the inbox of qualified candidates.

In-demand occupations

How about those who might be graduating over the next few years and still undecided on a major. What jobs will be in the highest demand over the next 3 years in Pasco County? Well, let’s see what the data says. Healthcare is expected to continue its growth as Pasco’s Largest non-government industry. Within healthcare, Nurse Practitioners are expected to grow by 18.7% over the next three years and Physician Assistants are expected to grow by 12.8%. Substance Abuse, Behavioral Disorder, and Mental Health Counselors will be the next highest in-demand occupation with anticipated growth of 10.2% over the next 3 years.

If you are an employer looking to grow your workforce now is a great time to connect with recent grads. Visit our education directory to see which programs are available in Pasco County and how to connect with them to help build your talent pipeline.