Professional Services Jobs Are Driving DowntownFTL's Jobs Recovery
January 7, 2022
DowntownFTL ended 2021 with more total jobs than before the start of the COVID-19 pandemic. This is a significant milestone for the recovery of a rapidly growing urban center, especially considering that only one out of three metro areas in the country have recovered the jobs lost since March of 2020.
In the 12-month period from March 2020 to March 2021, DowntownFTL lost about 3,000 jobs. In the 6 months from March to November 2021, DowntownFTL gained back the total number of jobs lost. This represents a 5% total increase since March 2021.
This growth is mainly attributed to the professional services sector, which added nearly 2,000 jobs to DowntownFTL during the pandemic and is responsible for 43% of the net new jobs created. The number of jobs in this sector increased 17.5% since March 2021.
Several core factors are likely driving the rapid growth of professional services jobs in DowntownFTL.
DowntownFTL is becoming a top of mind destination for young professionals, leading major companies to follow talent to the urban core.
The opening of The Main Las Olas, DowntownFTL's first new Class A office building in a decade.
The rising popularity of remote work has led to workers in this sector to relocate to DowntownFTL, moving towards a new model of economic development focused on place.