Central Florida’s Unemployment Rate Continues Downward Trend in May 2016 to 4.0 Percent

Central Florida’s Unemployment Rate Continues Downward Trend in May 2016 to 4.0 Percent

by | Jun 20, 2016

FOR IMMEDIATE RELEASE

Jun 20, 2016

Contact: Larry Krause

407-531-1222, Ext. 2082

Central Florida’s Unemployment Rate Continues Downward Trend in May 2016 to 4.0 Percent

Orlando, FL – The unemployment rate in the CareerSource Central Florida region (Sumter, Lake, Orange, Osceola, and Seminole counties) was 4.0 percent in May 2016. This rate was 1.2 percentage point lower than the region’s year ago rate of 5.2 percent. The region’s May 2016 unemployment rate was 0.4 percentage point lower than the state rate of 4.4 percent. Out of a labor force of 1,277,624 there were 51,150 unemployed residents in the region.

• The unemployment rates for each of the counties in the Central Florida region were: Orange County (3.8 percent); Seminole County (3.8 percent); Lake County (4.3 percent), Osceola County (4.4 percent), and Sumter County (6.3 percent).

• In May 2016 nonagricultural employment in the Orlando‐Kissimmee‐Sanford MSA was 1,204,000, an increase of 48,200 jobs (+4.2 percent) over the year.

• The Orlando‐Kissimmee‐Sanford MSA had the highest annual job growth compared to all the metro areas in the state in leisure and hospitality (+13,000 jobs); mining, logging, and construction (+9,700 jobs); manufacturing (+3,100 jobs); government (+2,400 jobs); and other services (+2,200 jobs) in May 2016.

• The Orlando‐Kissimmee‐Sanford MSA had the fastest annual job growth rate compared to all the metro areas in the state in manufacturing (+7.6 percent); and other services (+5.4 percent) in May 2016.

• The mining, logging, and construction (+16.2 percent); manufacturing (+7.6 percent); leisure and hospitality (+5.4 percent); other services (+5.4 percent); education and health services (+4.2 percent); trade, transportation, and utilities (+3.1 percent); and government (+2.0 percent) industries grew faster in the metro area than statewide over the year.

• The industries gaining in jobs over the year were: leisure and hospitality (+13,000 jobs); mining, logging, and construction (+9,700 jobs); trade, transportation, and utilities (+6,700 jobs); education and health services (+6,000 jobs); professional and business services (+5,500 jobs); manufacturing (+3,100 jobs); government (+2,400 jobs); other services (+2,200 jobs); and financial activities (+300 jobs).

• The information (‐700 jobs) industry lost jobs over the year.

• In May 2016 nonagricultural employment in the The Villages MSA was 26,900, an increase of 700 jobs (+2.7 percent) over the year.

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