West Palm Beach industrial job postings begin to taper off but remain higher than pre pandemic levels
- The number of industrial job postings has shown a slight decline year over year, indicating corporate cost-cutting and a weakening demand for labor. There has been a 20.4% decline in transportation and material-moving job postings and a 31.9% decrease in production occupation postings compared to the third quarter of 2022.
- In contrast to pre-pandemic levels, the number of industrial job postings has soared. In the third quarter of 2019, there were 850 transportation and material-moving job postings; as of the third quarter of 2023, there are 1560 postings—an 83.5% increase. Similarly, there has been a 57.3% uptick in production occupations since the third quarter of 2019, demonstrating just how much the West Palm Beach industrial market has grown in a short five-year span. However, with industrial vacancy falling below 3% in 2023, job postings have started to decrease, indicating a tapering-off trend.
US-FL-WPB West Palm Beach