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Economy Overview
Lake County, FL
CareerSource Central Florida
Emsi Q4 2019 Data Set | www.economicmodeling.com
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com
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Contents
Report Parameters
Economy Overview
Historic & Projected Trends
Popula on Characteris cs
Industry Characteris cs
Business Characteris cs
Workforce Characteris cs
Educa onal Pipeline
In-Demand Skills
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com
1 County
Class of Worker
QCEW Employees, Non-QCEW Employees, and Self-Employed
The informa on in this report pertains to the chosen geographical area.
Report Parameters
12069 Lake County, FL
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 1
Economy Overview
Takeaways
As of 2019 the region's popula on increased by 15.7% since 2014, growing by 49,662. Popula on is expected to increase by
10.1% between 2019 and 2024, adding 36,689.
From 2014 to 2019, jobs increased by 15.7% in Lake County, FL from 97,168 to 112,469. This change outpaced the na onal
growth rate of 6.9% by 8.8%. As the number of jobs increased, the labor force par cipa on rate decreased from 52.9% to
52.4% between 2014 and 2019.
Concerning educa onal a ainment, 14.0% of Lake County, FL residents possess a Bachelor's Degree (4.8% below the na onal
average), and 10.1% hold an Associate's Degree (2.0% above the na onal average).
The top three industries in 2019 are Restaurants and Other Ea ng Places, Educa on and Hospitals (Local Government), and
Services to Buildings and Dwellings.
365,050 112,469 $49.7KPopula on (2019) Total Regional Employment Median Household Income (2017)
Popula on grew by 49,662 overthe last 5 years and is projected to
grow by 36,689 over the next 5years.
Jobs grew by 15,301 over the last5 years and are projected to growby 10,037 over the next 5 years.
Median household income is$7.9K below the na onal median
household income of $57.7K.
Region 365,050 161,020 112,469 98.7 $9.18B $13.23B $5.96B
Region 12 MSAs 2,761,747 1,419,960 1,396,864 100.1 $138.53B $104.19B $109.41B
Wildwood, FL (in Sumtercounty) (ZIP 34785)
20,333 N/A 8,447 98.8 $753.27M $1.26B $1.49B
Florida 21,624,814 10,470,783 9,753,437 100.9 $1.02T $691.45B $672.44B
Popula on(2019)
LaborForce
(2019)Jobs
(2019)
Costof
Living GRP Imports Exports
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 2
2019 Labor Force Breakdown
Popula on
365,050
Educa onal A ainment
Concerning educa onal a ainment, 14.0% of Lake County, FL residents possess a Bachelor's Degree (4.8% below the na onal
average), and 10.1% hold an Associate's Degree (2.0% above the na onal average).
Popula on
A Total Working Age Popula on 307,146
A Not in Labor Force (15+) 146,126
A Labor Force 161,020
A Employed 155,503
A Unemployed 5,517
A Under 15 57,904
% of Popula on Popula on
A Less Than 9th Grade 4.8% 13,003
A 9th Grade to 12th Grade 7.1% 19,328
A High School Diploma 33.9% 91,823
A Some College 22.6% 61,310
A Associate's Degree 10.1% 27,313
A Bachelor's Degree 14.0% 37,947
A Graduate Degree and Higher 7.6% 20,523
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 3
Historic & Projected Trends
Popula on Trends
As of 2019 the region's popula on increased by 15.7% since 2014, growing by 49,662. Popula on is expected to increase by
10.1% between 2019 and 2024, adding 36,689.
2014 315,388
2015 325,091
2016 334,747
2017 345,086
2018 356,494
2019 365,050
2020 373,717
2021 381,679
2022 388,978
2023 395,654
2024 401,738
Timeframe Popula on
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 4
Job Trends
From 2014 to 2019, jobs increased by 15.7% in Lake County, FL from 97,168 to 112,469. This change outpaced the na onal
growth rate of 6.9% by 8.8%.
2014 97,168
2015 101,443
2016 105,135
2017 108,363
2018 111,630
2019 112,469
2020 115,396
2021 117,783
2022 119,736
2023 121,475
2024 122,506
Timeframe Jobs
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 5
Labor Force Par cipa on Rate Trends
2014 52.39%
2015 51.64%
2016 51.98%
2017 52.20%
2018 51.75%
January - April 2019 51.11%
May 2019 51.44%
June 2019 52.19%
July 2019 52.42%
Timeframe Labor Force Par cipa on Rate
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 6
Unemployment Rate Trends
Lake County, FL had a July 2019 unemployment rate of 3.43%, decreasing from 6.40% 5 years before.
2014 6.40%
2015 5.53%
2016 4.85%
2017 4.20%
2018 3.52%
January - April 2019 3.40%
May 2019 3.04%
June 2019 3.49%
July 2019 3.43%
Timeframe Unemployment Rate
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 7
Lake County, FL has 58,584
millennials (ages 25-39). The
na onal average for an area this
size is 73,291.
Re rement risk is high in Lake
County, FL. The na onal average
for an area this size is 103,193
people 55 or older, while there are
143,948 here.
Racial diversity is low in Lake
County, FL. The na onal average
for an area this size is 141,240
racially diverse people, while there
are 109,095 here.
Lake County, FL has 32,635
veterans. The na onal average for
an area this size is 20,101.
Lake County, FL has 3.26 violent
crimes per 1,000 people. The
na onal rate is 3.87 per 1,000
people.
Lake County, FL has 20.28 property
crimes per 1,000 people. The
na onal rate is 22.98 per 1,000
people.
Popula on Characteris cs
58,584
Millennials
143,948
Re ring Soon
109,095
Racial Diversity
32,635
Veterans
3.26/1,000
Violent Crime
20.28/1,000
Property Crime
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 8
Where Talent Works Where Talent Lives
Place of Work vs Place of Residence
Understanding where talent in Lake County, FL currently works compared to where talent lives can help you op mize site
decisions.
34711 Clermont, FL (in Lake county)… 19,315
34748 Leesburg, FL (in Lake county)… 16,266
32778 Tavares, FL (in Lake county)… 14,227
32159 Lady Lake, FL (in Lake county)… 11,912
32757 Mount Dora, FL (in Lake county)… 10,781
ZIP Name2019
Employment
34711 Clermont, FL (in Lake county)… 26,374
34748 Leesburg, FL (in Lake county)… 15,348
32757 Mount Dora, FL (in Lake county)… 11,647
32159 Lady Lake, FL (in Lake county)… 9,194
32726 Eus s, FL (in Lake county)… 8,881
ZIP Name2019
Workers
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 9
Industry Characteris cs
Largest Industries
Industry Jobs Na onal Average
0 5,000 10,000 15,000
Health Care and Social Assistance
Retail Trade
Government
Accommoda on and Food Services
Construc on
Administra ve and Support and Waste Management andRemedia on Services
Other Services (except Public Administra on)
Professional, Scien fic, and Technical Services
Manufacturing
Transporta on and Warehousing
Agriculture, Forestry, Fishing and Hun ng
Arts, Entertainment, and Recrea on
Finance and Insurance
Real Estate and Rental and Leasing
Educa onal Services
Wholesale Trade
Informa on
U li es
Management of Companies and Enterprises
Mining, Quarrying, and Oil and Gas Extrac on
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 10
Top Growing Industries
Industry Jobs Growth
0 500 1,000 1,500 2,000 2,500 3,000
Construc on
Accommoda on and Food Services
Retail Trade
Health Care and Social Assistance
Government
Administra ve and Support and Waste Management andRemedia on Services
Professional, Scien fic, and Technical Services
Educa onal Services
Other Services (except Public Administra on)
Transporta on and Warehousing
Manufacturing
Finance and Insurance
Agriculture, Forestry, Fishing and Hun ng
Real Estate and Rental and Leasing
U li es
Wholesale Trade
Management of Companies and Enterprises
Arts, Entertainment, and Recrea on
Mining, Quarrying, and Oil and Gas Extrac on
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 11
Top Industry LQ
Industry LQ
0.00 1.00 2.00
Agriculture, Forestry, Fishing and Hun ng
Construc on
Retail Trade
Arts, Entertainment, and Recrea on
Health Care and Social Assistance
Other Services (except Public Administra on)
Accommoda on and Food Services
Real Estate and Rental and Leasing
U li es
Administra ve and Support and Waste Management andRemedia on Services
Government
Educa onal Services
Transporta on and Warehousing
Informa on
Finance and Insurance
Professional, Scien fic, and Technical Services
Manufacturing
Wholesale Trade
Mining, Quarrying, and Oil and Gas Extrac on
Management of Companies and Enterprises
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 12
Top Industry GRP
2018 Gross Regional Product
$0.000 $200.0M $400.0M $600.0M $800.0M $1.000B
Health Care and Social Assistance
Retail Trade
Government
Construc on
Finance and Insurance
Manufacturing
Accommoda on and Food Services
Administra ve and Support and Waste Management andRemedia on Services
Professional, Scien fic, and Technical Services
Real Estate and Rental and Leasing
Other Services (except Public Administra on)
Wholesale Trade
Transporta on and Warehousing
Informa on
Agriculture, Forestry, Fishing and Hun ng
U li es
Educa onal Services
Arts, Entertainment, and Recrea on
Mining, Quarrying, and Oil and Gas Extrac on
Management of Companies and Enterprises
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 13
Top Industry Earnings
2019 Earnings Per Worker
$0 $20,000 $40,000 $60,000 $80,000 $100,000
Management of Companies and Enterprises
Mining, Quarrying, and Oil and Gas Extrac on
Finance and Insurance
U li es
Wholesale Trade
Manufacturing
Professional, Scien fic, and Technical Services
Government
Health Care and Social Assistance
Construc on
Transporta on and Warehousing
Informa on
Agriculture, Forestry, Fishing and Hun ng
Real Estate and Rental and Leasing
Administra ve and Support and Waste Management andRemedia on Services
Educa onal Services
Retail Trade
Other Services (except Public Administra on)
Accommoda on and Food Services
Arts, Entertainment, and Recrea on
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 14
Health Care and Social Assistance 15,704 17,899 2,195 +14% 1.25 $54,660 $1.15B
Retail Trade 15,195 17,488 2,293 +15% 1.55 $33,916 $1.07B
Government 12,957 14,143 1,186 +9% 0.84 $55,854 $871.76M
Accommoda on and Food Services 9,141 11,660 2,519 +28% 1.21 $21,451 $399.40M
Construc on 8,114 11,142 3,028 +37% 1.76 $54,451 $809.98M
Administra ve and Support andWaste Management andRemedia on Services
6,055 7,228 1,173 +19% 1.03 $38,291 $379.91M
Other Services (except PublicAdministra on)
6,090 6,472 382 +6% 1.21 $27,148 $272.32M
Professional, Scien fic, andTechnical Services
3,171 3,924 753 +24% 0.53 $55,929 $362.35M
Manufacturing 3,439 3,735 296 +9% 0.42 $56,942 $407.17M
Transporta on and Warehousing 2,658 2,962 304 +11% 0.71 $54,414 $234.79M
Agriculture, Forestry, Fishing andHun ng
2,400 2,638 238 +10% 2.03 $41,010 $215.51M
Arts, Entertainment, and Recrea on 2,577 2,592 15 +1% 1.33 $20,084 $81.57M
Finance and Insurance 2,209 2,471 262 +12% 0.55 $82,104 $495.24M
Real Estate and Rental and Leasing 2,028 2,251 223 +11% 1.18 $40,030 $299.50M
Educa onal Services 1,609 2,156 547 +34% 0.74 $36,890 $92.36M
Wholesale Trade 1,598 1,672 74 +5% 0.41 $58,262 $243.73M
Informa on 1,542 1,234 -308 -20% 0.60 $50,697 $216.76M
U li es 359 446 87 +24% 1.17 $75,538 $110.35M
Management of Companies andEnterprises
140 163 23 +16% 0.10 $104,014 $19.05M
Mining, Quarrying, and Oil and GasExtrac on
114 127 13 +11% 0.27 $87,548 $26.70M
Industry2014Jobs
2019Jobs Change in Jobs
%Changein Jobs
2019LQ
2019 EarningsPer Worker 2018 GRP
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 15
Business Characteris cs
33,636 Companies Employ Your Workers
Online profiles for your workers men on 33,636 companies as employers, with the top 10 appearing below. In the last 12 months,
2,803 companies in Lake County, FL posted job pos ngs, with the top 10 appearing below.
The Walt Disney Company 1,808
Lake County Schools 1,023
Florida Hospital Waterman, Inc 599
Wal-Mart Stores, Inc. 509
Publix Super Markets, Inc. 385
Leesburg Regional Medical Center, Inc.… 345
South Lake Hospital, Inc. 284
Florida Hospital 283
Orlando Health, Inc. 232
Universal Studios, Inc. 232
Top Companies Profiles
CRST Interna onal, Inc. 1,077
Assurance 725
HealthCare Employment Network… 703
Central Florida Health Alliance, Inc.… 670
C.R. England, Inc. 599
Care.com, Inc. 532
McDonald's Corpora on 514
Dollar General Corpora on 475
Employer Provider Network, Inc 414
Teach For America, Inc. 414
Top Companies Pos ng Unique Pos ngs
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 16
Business Size
*Business Data by DatabaseUSA.com is third-party data provided by Emsi to its customers as a convenience, and Emsi does not endorse or warrant its
accuracy or consistency with other published Emsi data. In most cases, the Business Count will not match total companies with profiles on the summary
tab.
Percentage Business Count
A 1 to 4 employees 38.4% 4,319
A 5 to 9 employees 28.4% 3,199
A 10 to 19 employees 19.3% 2,168
A 20 to 49 employees 10.3% 1,155
A 50 to 99 employees 2.0% 222
A 100 to 249 employees 1.3% 151
A 250 to 499 employees 0.2% 24
A 500+ employees 0.1% 8
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 17
Workforce Characteris cs
Largest Occupa ons
Occupa on Jobs Na onal Average
0 5,000 10,000 15,000
Office and Administra ve Support
Sales and Related
Food Prepara on and Serving Related
Healthcare Prac oners and Technical
Construc on and Extrac on
Transporta on and Material Moving
Educa on, Training, and Library
Building and Grounds Cleaning and Maintenance
Management
Installa on, Maintenance, and Repair
Healthcare Support
Business and Financial Opera ons
Personal Care and Service
Produc on
Community and Social Service
Protec ve Service
Arts, Design, Entertainment, Sports, and Media
Farming, Fishing, and Forestry
Computer and Mathema cal
Architecture and Engineering
Legal
Military-only
Life, Physical, and Social Science
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 18
Top Growing Occupa ons
Occupa on Jobs Growth
0 500 1,000 1,500 2,000
Food Prepara on and Serving Related
Office and Administra ve Support
Construc on and Extrac on
Sales and Related
Educa on, Training, and Library
Business and Financial Opera ons
Transporta on and Material Moving
Management
Installa on, Maintenance, and Repair
Personal Care and Service
Healthcare Prac oners and Technical
Healthcare Support
Building and Grounds Cleaning and Maintenance
Arts, Design, Entertainment, Sports, and Media
Computer and Mathema cal
Community and Social Service
Protec ve Service
Farming, Fishing, and Forestry
Architecture and Engineering
Legal
Produc on
Life, Physical, and Social Science
Military-only
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 19
Top Occupa on LQ
Occupa on LQ
0.00 1.00 2.00
Farming, Fishing, and Forestry
Building and Grounds Cleaning and Maintenance
Healthcare Support
Construc on and Extrac on
Food Prepara on and Serving Related
Healthcare Prac oners and Technical
Sales and Related
Community and Social Service
Educa on, Training, and Library
Installa on, Maintenance, and Repair
Office and Administra ve Support
Transporta on and Material Moving
Arts, Design, Entertainment, Sports, and Media
Management
Personal Care and Service
Protec ve Service
Business and Financial Opera ons
Legal
Produc on
Military-only
Computer and Mathema cal
Architecture and Engineering
Life, Physical, and Social Science
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 20
Top Occupa on Earnings
2018 Median Hourly Earnings
$0.00 $10.00 $20.00 $30.00
Management
Computer and Mathema cal
Architecture and Engineering
Healthcare Prac oners and Technical
Legal
Business and Financial Opera ons
Life, Physical, and Social Science
Military-only
Arts, Design, Entertainment, Sports, and Media
Educa on, Training, and Library
Protec ve Service
Community and Social Service
Installa on, Maintenance, and Repair
Construc on and Extrac on
Produc on
Office and Administra ve Support
Transporta on and Material Moving
Healthcare Support
Sales and Related
Personal Care and Service
Building and Grounds Cleaning and Maintenance
Food Prepara on and Serving Related
Farming, Fishing, and Forestry
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 21
Top Posted Occupa ons
Unique Average Monthly Pos ngs
0 200 400 600 800 1,000 1,200
Healthcare Prac oners and Technical
Sales and Related
Transporta on and Material Moving
Office and Administra ve Support
Food Prepara on and Serving Related
Management
Installa on, Maintenance, and Repair
Healthcare Support
Personal Care and Service
Business and Financial Opera ons
Educa on, Training, and Library
Computer and Mathema cal
Produc on
Community and Social Service
Building and Grounds Cleaning and Maintenance
Arts, Design, Entertainment, Sports, and Media
Construc on and Extrac on
Architecture and Engineering
Protec ve Service
Life, Physical, and Social Science
Legal
Farming, Fishing, and Forestry
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 22
Underemployment
Jobs Requiring Ed. Level Popula on at Ed. Level
0% 10% 20% 30% 40%
No Formal Educa on Required
High School Diploma or Equivalent
Some College, Non-Degree Award
Associate's Degree
Bachelor's Degree
Graduate Degree and Higher
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 23
Office andAdministra ve Support
13,519 15,282 1,763 +13% 0.95 $13.88 667
Sales and Related 12,062 13,346 1,284 +11% 1.20 $11.08 1,273
Food Prepara on andServing Related
10,069 12,379 2,310 +23% 1.32 $9.64 664
Healthcare Prac onersand Technical
6,809 7,559 750 +11% 1.21 $28.18 1,340
Construc on andExtrac on
5,831 7,445 1,614 +28% 1.43 $16.38 77
Transporta on andMaterial Moving
5,800 6,713 913 +16% 0.87 $13.47 1,101
Educa on, Training, andLibrary
5,672 6,630 958 +17% 1.04 $19.24 158
Building and GroundsCleaning andMaintenance
5,947 6,340 393 +7% 1.56 $10.52 117
Management 4,575 5,430 855 +19% 0.84 $35.80 330
Installa on,Maintenance, and Repair
3,729 4,533 804 +22% 1.03 $17.32 275
Healthcare Support 3,877 4,363 486 +13% 1.45 $12.56 271
Business and FinancialOpera ons
3,248 4,175 927 +29% 0.71 $25.16 160
Personal Care andService
3,301 4,101 800 +24% 0.82 $10.86 195
Produc on 3,198 3,258 60 +2% 0.50 $13.99 153
Community and SocialService
1,812 2,051 239 +13% 1.08 $17.80 124
Protec ve Service 1,738 1,973 235 +14% 0.79 $18.18 57
Arts, Design,Entertainment, Sports,and Media
1,502 1,773 271 +18% 0.87 $19.32 86
Farming, Fishing, andForestry
1,601 1,742 141 +9% 2.08 $9.50 13
Occupa on2014Jobs
2019Jobs Change in Jobs
%Changein Jobs
2019LQ
2018 MedianHourly Earnings
Nov 2018 - Oct 2019Unique Average
Monthly Pos ngs
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 24
Computer andMathema cal
1,102 1,348 246 +22% 0.41 $31.12 155
Architecture andEngineering
643 759 116 +18% 0.40 $29.45 61
Legal 556 630 74 +13% 0.68 $27.63 18
Military-only 300 328 28 +9% 0.49 $19.46 0
Life, Physical, andSocial Science
276 312 36 +13% 0.34 $23.97 26
Occupa on2014Jobs
2019Jobs Change in Jobs
%Changein Jobs
2019LQ
2018 MedianHourly Earnings
Nov 2018 - Oct 2019 UniqueAverage Monthly Pos ngs
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 25
Educa onal Pipeline
In 2018, there were 1,524 graduates in Lake County, FL. This pipeline has grown by 10% over the last 5 years. The highest share
of these graduates come from Liberal Arts and Sciences/Liberal Studies, Registered Nursing/Registered Nurse, and Nursing
Assistant/Aide and Pa ent Care Assistant/Aide.
Cer ficate Associate's Bachelor's Master's or Higher
Lake-Sumter State College 864
Lake Technical College 599
Beacon College 61
School Total Graduates (2018)Graduate Trend (2014 -
2018)
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 26
In-Demand Skills
Top Hard Skills Na onal Average
0 1,000 2,000 3,000 4,000 5,000 6,000
Merchandising
Nursing
Restaurant Opera on
Selling Techniques
Rehabilita on
Basic Life Support
Customer Experience
Cash Register
Cardiopulmonary Resuscita on (CPR)
Purchasing
Economy Overview
Emsi Q4 2019 Data Set | www.economicmodeling.com 27
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