Central Florida’s Unemployment Rate at 2.7 Percent for September 2018

Central Florida’s Unemployment Rate at 2.7 Percent for September 2018

by | Oct 19, 2018

FOR IMMEDIATE RELEASE

Oct 19, 2018

Contact: Kristine Concepcion
407-531-1222, ext. 2034

Central Florida’s Unemployment Rate at 2.7 Percent for September 2018

Orlando, FL – The unemployment rate in the CareerSource Central Florida region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 2.7 percent in September 2018. This rate was 0.9 percentage point lower than the region’s year ago rate of 3.6 percent. The region’s September 2018 unemployment rate was 0.3 percentage point lower than the state rate of 3.0 percent. The labor force was 1,392,367, up 32,644 (+2.4) over the year. There were 37,883 unemployed residents in the region.
• The unemployment rates for the five counties that comprise the Central Florida region were: Lake County (2.9 percent), Orange County (2.6 percent), Osceola County (3.0 percent), Seminole County (2.6 percent), and Sumter County (4.3 percent).
“Central Florida’s unemployment rate of 2.7% is well below the State’s record low of 3.1%, set in 2006. It’s also the lowest our region has experienced since we dropped to 2.4% in December of 1999,” said CareerSource Central Florida President/CEO Pamela Nabors. “Jobs in higher-wage industries continue to be created faster here than anywhere else in our state.”
• In September 2018, nonagricultural employment in the Orlando-Kissimmee-Sanford MSA was 1,306,500, an increase of 73,300 jobs (+5.9 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 (+18,100 jobs); professional and business services (+16,800 jobs); and mining, logging, and construction (+12,300 jobs) in September 2018.
• The Orlando-Kissimmee-Sanford MSA had the second fastest annual job growth compared to all the metro areas in the state in trade, transportation, and utilities (+7,200 jobs); manufacturing (+4,900 jobs); financial activities (+3,500 jobs); and other services (+2,900 jobs) in September 2018.
• The Orlando-Kissimmee-Sanford MSA had the third fastest annual job growth rate compared to all the metro areas in the state in manufacturing (+11.1 percent) and other services (+6.7 percent) in September 2018.
• The Orlando-Kissimmee-Sanford MSA had the third fastest annual job growth compared to all the metro areas in the state in education and health services (+8,000 jobs) in September 2018.
• The mining, logging, and construction (+16.7 percent); manufacturing (+11.1 percent); professional and business services (+7.9 percent); other services (+6.7 percent); education and health services (+5.3 percent); financial activities (+4.7 percent); and trade, transportation, and utilities (+3.1 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 (+18,100 jobs); professional and business services (+16,800 jobs); mining, logging, and construction (+12,300 jobs); education and health
services (+8,000 jobs); trade, transportation, and utilities (+7,200 jobs); manufacturing (+4,900 jobs); financial activities (+3,500 jobs); other services (+2,900 jobs); and information (+100 jobs).
• The government (-500 jobs) industry lost jobs over the year.
• In September 2018, nonagricultural employment in The Villages MSA was 28,600, an increase of 900 jobs (+3.2 percent) over the year.

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