Central Florida’s Unemployment Rate Dips to 4.2 Percent For April 2016

Central Florida’s Unemployment Rate Dips to 4.2 Percent For April 2016

by | May 23, 2016

FOR IMMEDIATE RELEASE

May 23, 2016

Contact: Larry Krause

407-531-1222, Ext. 2082

Central Florida’s Unemployment Rate Dips to 4.2 Percent For April 2016

Orlando, FL – The unemployment rate in the CareerSource Central Florida region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 4.2 percent in April 2016. This rate was 0.7 percentage point lower than the region’s year ago rate of 4.9 percent. The region’s April 2016 unemployment rate was 0.3 percentage point lower than the state rate of 4.5 percent. Out of a labor force of 1,266,704 there were 53,098 unemployed residents in the region.

• The unemployment rates in the CareerSource Central Florida region were: Seminole County (3.9 percent); Orange County (4.0 percent); Lake County (4.5 percent); Osceola County (4.6 percent); and Sumter County (6.6 percent).

• Nonagricultural employment in the Orlando-Kissimmee-Sanford metro area (Lake, Orange, Osceola, and Seminole counties) was 1,202,000 in April 2016, an increase of 51,900 jobs (+4.5 percent) over the year. The metro area’s over the year growth rate was 1.2 percentage point higher than the state growth rate of 3.3 percent.

• The Orlando-Kissimmee-Sanford MSA had the highest annual job growth compared to all the metro areas in the state in leisure and hospitality (+12,900 jobs); mining, logging, and construction (+8,800 jobs); trade, transportation, and utilities (+8,100 jobs); manufacturing (+3,300 jobs); government (+2,300 jobs); and other services (+2,100 jobs) in April 2016.

• The Orlando-Kissimmee-Sanford MSA had the fastest annual job growth rate compared to all the metro areas in the state in manufacturing (+8.1 percent) and other services (+5.2 percent) in April 2016.

• The mining, logging, and construction (+15.0 percent); manufacturing (+8.1 percent); education and health services (+5.6 percent); leisure and hospitality (+5.4 percent); other services (+5.2percent); trade, transportation, and utilities (+3.7 percent); and government (+1.9 percent) industries grew faster in the metro area than statewide over the year.

• The industries gaining jobs over the year were: leisure and hospitality (+12,900 jobs); mining, logging, and construction (+8,800 jobs); trade, transportation, and utilities (+8,100 jobs); education and health services (+8,000 jobs); professional and business services (+6,900 jobs); manufacturing (+3,300 jobs); government (+2,300 jobs); other services (+2,100 jobs); and financial activities (+100 jobs).

• The information (-600 jobs) industry lost jobs over the year.

• In April 2016 nonagricultural employment in The Villages MSA was 27,000, an increase of 700 jobs (+2.7 percent) over the year.

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