Central Florida’s Unemployment Rate at 3.2 Percent for October 2017

Central Florida’s Unemployment Rate at 3.2 Percent for October 2017

by | Nov 17, 2017

FOR IMMEDIATE RELEASE

Nov 17, 2017

Contact: Larry Krause

407-531-1222, Ext. 2082

Central Florida’s Unemployment Rate at 3.2 Percent for October 2017

Orlando, FL – The unemployment rate in the CareerSource Central Florida region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 3.2 percent in October 2017. This rate was 1.4 percentage points lower than the region’s year ago rate of 4.6 percent. The region’s October 2017 unemployment rate was 0.4 percentage point lower than the state rate of 3.6 percent. The labor force was 1,328,283, up 32,146 (+2.5) over the year. There were 42,353 unemployed residents in the region.

 

  • The unemployment rates for the five counties that comprise the Central Florida region were: Lake County (3.4 percent), Orange County (3.1 percent), Osceola County (3.6 percent), Seminole County (3.0 percent), and Sumter County (4.8 percent).

 

  • In October 2017 nonagricultural employment in the Orlando‐Kissimmee‐Sanford MSA was 1,256,500, an increase of 36,800 jobs (+3.0 percent) over the year.

 

  • The Orlando‐Kissimmee‐Sanford MSA had the fastest annual job growth rate compared to all the metro areas in the state in financial activities (+7.0 percent) in October 2017.

 

  • The Orlando‐Kissimmee‐Sanford MSA had the second fastest annual job growth rate compared to all the metro areas in the state in manufacturing (+11.5 percent) in October 2017.

 

  • The Orlando‐Kissimmee‐Sanford MSA had the highest annual job growth compared to all the metro areas in the state in leisure and hospitality (+8,300 jobs); professional and business services (+8,200 jobs); financial activities (+5,200 jobs); and manufacturing (+4,900 jobs) in October 2017.

 

  • The manufacturing (+11.5 percent); financial activities (+7.0 percent); professional and business services (+3.9 percent); and leisure and hospitality (+3.3 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 (+8,300 jobs); professional and business services (+8,200 jobs); financial activities (+5,200 jobs); manufacturing (+4,900 jobs); mining, logging, and construction (+4,000 jobs); trade, transportation, and utilities (+3,800 jobs); education and health services (+2,000 jobs); and other services (+1,300 jobs).

 

  • The government (‐600 jobs) and information (‐300 jobs) industries lost jobs over the year.

 

  • In October 2017 nonagricultural employment in The Villages MSA was 28,400, an increase of 900 jobs (+3.3 percent) over the year.

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