Fast forward to the present day, and the same job market that was once in the top ten of Bizjournal’s best US job markets ranked 58th out of 100 this year.

Thirty-five thousand jobs have been lost, following a year-over-year trend, according to the US Bureau of Labor Statistics.

The main factor, according to Bruce Nissen, Director of Research at Florida International University’s Center for Labor Research, is the housing market.

Real estate in Florida, once considered cheap by market standards, skyrocketed, driving people away in herds. “Half backs,” the population that moves to Florida from the Northeast, then moves to Southern states north of Florida (like Georgia or the Carolinas), have become more common.

Cities like Jacksonville, Tampa, and Bradenton are feeling the economic strain, evident in their labor pool. Those cities ranked 49th, 89th, and 99th respectively on the Bizjournal list.

The state’s reaction to the economic drop-off is visible in the housing market these days. Prices that had ballooned recently have been lowered, all in efforts to stimulate the South Florida economy and those looking to work there despite cloudy days.

Click here to learn more about real estate jobs in Florida.

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