A boost for builders

Take that, tourism and hospitality.

That's what the construction industry could be boasting, given the data in a new report from SBDC Florida and the University of West Florida's Center for Research and Economic Opportunity. The report, Small Business and its Impact on Florida, highlights several trends in hiring, demographics and the overall economy.

Small businesses, for example, continue to drive the Sunshine State. The report shows the state's small businesses account for 56% of all employment, and the vast majority of those companies have fewer than 50 employees. There are also 1.7 million self-employed people in Florida.

The construction sector shines in job growth projections. It will see employment growth of 7.9% from 2015-2018, besting business services, trade and transportation and education and health services, the report predicts. Even better for builders, is the construction industry was the worst performer for job growth between 2008 and 2010, the report adds.

Leisure and hospitality, a scorcher for job growth in recent years, will cool down, according to the report, which includes data from the Institute for Economic Competitiveness at the University of Central Florida. That sector will grow only 1.9% from 2015-2018, the study projects.

Another industry predicted to lose momentum is manufacturing. That industry, which expanded at a rate of 2.5% in 2014, according to the report, is projected to grow 0.4% from 2015-2018.