Central Florida’s Unemployment Rate at 3.6 Percent for July 2018

Central Florida’s Unemployment Rate at 3.6 Percent for July 2018

by | Aug 17, 2018

FOR IMMEDIATE RELEASE

Aug 17, 2018

Contact: Larry Krause

407-531-1222, Ext. 2082

Central Florida’s Unemployment Rate at 3.6 Percent for July 2018

Orlando, FL – The unemployment rate in the CareerSource Central Florida region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 3.6 percent in July 2018. This rate was 0.4 percentage point lower than the region’s year ago rate of 4.0 percent. The region’s July 2018 unemployment rate was 0.4 percentage point lower than the state rate of 4.0 percent. The labor force was 1,393,808, up 49,190 (+3.7) over the year. There were 50,547 unemployed residents in the region.
• The unemployment rates for the five counties that comprise the Central Florida region were: Lake County (3.8 percent), Orange County (3.5 percent), Osceola County (4.0 percent), Seminole County (3.5 percent), and Sumter County (5.6 percent).
“Central Florida’s unemployment rate remains fairly steady at 3.6 percent over the past two months. While it’s no surprise that we continue to see growth in the construction industry, we also need to remain dedicated to connecting our local workforce with career training and skill development to meet the talent needs of this industry,” said Pamela Nabors, CareerSource Central Florida President/CEO. “An uptick in the need for professional and business services underscores regional efforts to expand opportunities in high-wage and emerging industries.”
• In July 2018 nonagricultural employment in the Orlando-Kissimmee-Sanford MSA was 1,288,100, an increase of 53,500 jobs (+4.3 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 other services (+8.2 percent) in July 2018.
• 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 (+11,400 jobs); mining, logging, and construction (+8,300 jobs); and other services (+3,600 jobs) in July 2018.
• The Orlando-Kissimmee-Sanford MSA was tied for the highest annual job growth compared to all the metro areas in the state in financial activities (+2,800 jobs) in July 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 (+9.2 percent) in July 2018.
• The Orlando-Kissimmee-Sanford MSA had the second highest annual job growth compared to all the metro areas in the state in leisure and hospitality (+12,300 jobs); education and health services (+7,200 jobs); trade, transportation, and utilities (+4,200 jobs); and manufacturing (+4,100 jobs) in July 2018.
• The Orlando-Kissimmee-Sanford MSA had the third fastest annual job growth rate compared to all the metro areas in the state in mining, logging, and construction (+11.1 percent) and education and health services (+4.8 percent) in July 2018.
• The mining, logging, and construction (+11.1 percent); manufacturing (+9.2 percent); other services (+8.2 percent); professional and business services (+5.2 percent); education and health services (+4.8 percent); financial activities (+3.8 percent); and trade, transportation, and utilities (+1.8 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 (+12,300 jobs); professional and business services (+11,400 jobs); mining, logging, and construction (+8,300 jobs); education and health services (+7,200 jobs); trade, transportation, and utilities (+4,200 jobs); manufacturing (+4,100 jobs); other services (+3,600 jobs); and financial activities (+2,800 jobs).
• The government (-400 jobs) industry lost jobs over the year.
• The information industry was unchanged over the year.
• In July 2018, nonagricultural employment in The Villages MSA was 27,800, an increase of 400 jobs (+1.5 percent) over the year.
• The Villages MSA had the third highest annual job growth rate compared to all the metro areas in the state in government (+2.1 percent) in July 2018.

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