Central Florida’s Unemployment Rate at 3.1 Percent for May 2018

Central Florida’s Unemployment Rate at 3.1 Percent for May 2018

by | Jun 15, 2018

FOR IMMEDIATE RELEASE

Jun 15, 2018

Contact: Larry Krause

407-531-1222, Ext. 2082

Central Florida’s Unemployment Rate at 3.1 Percent for May 2018

Orlando, FL – The unemployment rate in the CareerSource Central Florida region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 3.1 percent in May 2018. This rate was 0.6 percentage point lower than the region’s year ago rate of 3.7 percent. The region’s May 2018 unemployment rate was 0.3 percentage point lower than the state rate of 3.4 percent. The labor force was 1,370,073, up 40,072 (+3.0) over the year. There were 42,068 unemployed residents in the region.
• The unemployment rates for the five counties that comprise the Central Florida region were: Lake County (3.2 percent), Orange County (2.9 percent), Osceola County (3.4 percent), Seminole County (2.9 percent), and Sumter County (5.0 percent).
• In May 2018 nonagricultural employment in the Orlando-Kissimmee-Sanford MSA was 1,290,900, an increase of 44,000 jobs (+3.5 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 professional and business services (+11,000 jobs); leisure and hospitality (+10,800 jobs); and education and health services (+6,700 jobs) in May 2018.
• The Orlando-Kissimmee-Sanford MSA had the second highest annual job growth compared to all the metro areas in the state in mining, logging, and construction (+6,200 jobs); financial activities (+3,800 jobs); and manufacturing (+3,600 jobs) in May 2018.
• The Orlando-Kissimmee-Sanford MSA had the second fastest annual job growth rate compared to all the metro areas in the state in manufacturing (+8.2 percent) and education and health services (+4.4 percent) in May 2018.
• The mining, logging, and construction (+8.4 percent); manufacturing (+8.2 percent); financial activities (+5.1 percent); professional and business services (+5.0 percent); education and health services (+4.4 percent); leisure and hospitality (+4.2 percent); other services (+1.4 percent); and government (+0.2 percent) industries grew faster in the metro area than statewide over the year.
• The industries gaining in jobs over the year were: professional and business services (+11,000 jobs); leisure and hospitality (+10,800 jobs); education and health services (+6,700 jobs); mining, logging, and construction (+6,200 jobs); financial activities (+3,800 jobs); manufacturing (+3,600 jobs); trade, transportation, and utilities (+1,200 jobs); other services (+600 jobs); and government (+200 jobs).
• The information (-100 jobs) industry lost jobs over the year.
• In May 2018 nonagricultural employment in the Villages MSA was 28,700, an increase of 300 jobs (+1.1 percent) over the year.

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