Friday, November 22, 2013

Florida Unemployment Rate 6.7%, Brevard County 7%

TALLAHASSEE, Florida --  Florida’s seasonally adjusted unemployment rate was 6.7% in October 2013, down 0.1 percentage point over the month, and down 1.5 percentage points from 8.2 percent a year ago. 

Florida’s October unemployment rate was the lowest since August 2008 when it also was 6.7%.  There were 625,000 jobless Floridians out of a labor force of 9,396,000. The U.S. unemployment rate was 7.3 percent in October.  Florida’s unemployment rate was 0.6 percentage point lower than the U.S. rate and was below the national rate for the eighth consecutive month.

“Over the last two months, the state has added more than 67,000 private sector jobs," Governor Scott said.  "This is great news for Florida families."

Florida gained 20,800 private sector jobs in September 2013 and 46,400 private sector jobs in October 2013. Florida’s annual job growth rate from October 2012 to October 2013 is the fastest since June 2006. With 46,400 new private sector jobs last month, this is the most growth in a month since December 2010.  Florida’s annual job growth rate has exceeded or been equal to the nation’s job growth rate since March 2012.

Since December 2010, Florida’s statewide unemployment rate has dropped 4.4 percentage points, from a rate of 11.1 percent to October’s rate of 6.7 percent. Florida’s September 2013 rate was down 0.2 percentage point from the August rate of 7.0 percent, and the rate fell another 0.1 percentage point in October 2013. The current rate of 6.7 percent represents the lowest statewide unemployment rate since August 2008. It is also a decrease of 1.5 percentage points from October 2012, when the rate was 8.2 percent. Florida’s unemployment rate has now declined year-over-year for 36 consecutive months.

Florida’s seasonally adjusted total nonagricultural employment was 7,618,900 in October 2013, an increase of 44,600 jobs (+0.6 percent) over the month. Compared to October a year ago, the number of jobs in the state was up by 182,200, an increase of 2.5 percent.  

All numbers released are known as U-3, which consists of total unemployed, as a percent of the civilian labor force.

Florida Counties With Lowest Unemployment

In October 2013, Monroe County had the state’s lowest unemployment rate (3.8 percent), followed by Walton County (3.9 percent), Okaloosa County (4.4 percent), Alachua County (4.7 percent), and St. Johns County (4.9 percent). Many of the counties with the lowest unemployment rates were those with relatively high proportions of government employment.

Florida Counties With Highest Unemployment

Hendry County had the highest unemployment rate (12.0 percent) in Florida in October 2013, followed by Flagler County (9.4 percent), St. Lucie County (8.8 percent), Putnam County (8.6 percent), and Miami-Dade County (8.5 percent).  Hendry County had the highest unemployment rate in the state in October, due mainly to long-term job losses in state government.  Hendry was the only county in Florida with double-digit unemployment in both September and October.

Brevard County Unemployment Rate

The unemployment rate (not seasonally adjusted) on Florida's Space Coast dropped to 7.0% in October 2013 from 8.6% in October 2012, but is still higher than that of the Florida statewide unemployment rate of 6.6% (not seasonally adjusted). Out of a labor force of 267,339, there were 18,744 unemployed Brevard County residents.

In October 2013, total nonagricultural employment in the Palm Bay-Melbourne-Titusville metro area was 198,900.  Total nonagricultural employment increased by 2.0 percent over the year. Statewide employment increased by 2.4 percent over the same time period.

Total nonagricultural employment increased by 3,900 jobs over the year in the Palm Bay-Melbourne-Titusville metro area.   Job gains were led by professional and business services (+1,300 jobs).  Other industries that gained jobs over the year included mining, logging, construction; trade, transportation, utilities; and education and health services (+600 jobs each); financial activities; leisure and hospitality; and other services (+200 jobs each); and manufacturing and government (+100 jobs each). Information remained unchanged over the year.

The annual job growth rates for professional and business services (+4.5 percent); financial activities (+2.6 percent); other services (+2.5 percent); education and health services (+1.8 percent); and manufacturing (0.5 percent) exceeded the state rates.


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