Saturday, August 16, 2014

Florida Unemployment Rate 6.2%

TALLAHASSEE, Florida -- Florida’s seasonally adjusted unemployment rate was 6.2% in July 2014, unchanged from the June 2014 rate of 6.2%, and down 1.1 percentage points from 7.3%  a year ago.

The Sunshine State’s seasonally adjusted total nonagricultural employment was 7,795,900 in July 2014, a decrease of 1,600 jobs (less than -0.1 percent) over the month.  Compared to July a year ago, the number of jobs in the state was up by 208,500, an increase of 2.7 percent.

There were 597,000 jobless Floridians out of a labor force of 9,611,000. The number of jobs in Florida was 7,795,900 in July 2014, up 208,500 jobs compared to a year ago. July 2014 was the 48th consecutive month with positive annual job growth after the state lost jobs for over three years.  The industry gaining the most jobs was trade, transportation, and utilities (+43,200 jobs, +2.7 percent).

Other industries gaining jobs included construction (+40,600 jobs, +11.1 percent); leisure and hospitality (+38,300 jobs, +3.7 percent); professional and business services (+33,900 jobs, +3.0 percent); private education and health services (+32,400 jobs, +2.9 percent); financial activities (+11,300 jobs, +2.2 percent); other services (+5,500 jobs, +1.8 percent); manufacturing (+2,000 jobs, +0.6 percent); information (+600 jobs, +0.4 percent); and government (+400 jobs, less than +0.1 percent).

These industry job gains were partially due to increases in food and beverage stores; specialty trade contractors; food services and drinking places; services to buildings and dwellings; ambulatory health care services; insurance carriers and related activities; membership associations and organizations; fabricated metal product manufacturing; telecommunications; and state government.

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

Brevard County Unemployment Rate

The unemployment rate (not seasonally-adjusted) on Florida's Space Coast dropped to 7.1% in July 2014 from 8.3% in July 2013, but is still nearly a full percentage point higher than the state average.  Job gains were led by an increase in mining, logging, and construction jobs (+700) which helped to offset the loss of manufacturing, government, and professional and business services (-300 jobs each).

Total nonagricultural employment increased by 1,200 jobs over the year in the Palm Bay-Melbourne-Titusville metro area.

Other industries that gained jobs over the year included education and health services and leisure and hospitality (+600 jobs each); other services (+300 jobs); and trade, transportation, and utilities (+100 jobs).

Other industries reporting job losses included information and financial activities (-100 jobs each).

Out of a labor force of 268,783, there were 19,052 unemployed Brevard County residents.