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

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

by | Nov 16, 2018

FOR IMMEDIATE RELEASE

Nov 16, 2018

Contact: Kristine Concepcion

407-531-1222, ext. 2034

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

Orlando, FL – The unemployment rate in the CareerSource Central Florida region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 2.7 percent in October 2018. This rate was 0.8 percentage point lower than the region’s year ago rate of 3.5 percent. The region’s October 2018 unemployment rate was 0.3 percentage point lower than the state rate of 3.0 percent. The labor force was 1,388,477, up 45,298 (+3.4) over the year. There were 38,166 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).
“As we head into this holiday season, Central Florida’s regional economy is looking strong. Jobs at all levels and across industries continue to be created here at a state-leading rate,” said CareerSource Central Florida President/CEO Pamela Nabors. “Now is the time to seek out that new job or career opportunity.”
• In October 2018, nonagricultural employment in the Orlando-Kissimmee-Sanford MSA was 1,312,100, an increase of 55,400 jobs (+4.4 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 mining, logging, and construction (+15.6 percent) in October 2018.
• The Orlando-Kissimmee-Sanford MSA had the second fastest annual job growth rate compared to all the metro areas in the state in other services (+7.7 percent) in October 2018.
• The Orlando-Kissimmee-Sanford MSA had the highest annual job growth compared to all the metro areas in the state in leisure and hospitality (+15,700 jobs); mining, logging, and construction (+11,700 jobs); and professional and business services (+6,500 jobs) in October 2018.
• The Orlando-Kissimmee-Sanford MSA had the second fastest annual job growth compared to all the metro areas in the state in education and health services (+7,100); trade, transportation, and utilities (+5,800 jobs); manufacturing (+3,600 jobs); and other services (+3,300 jobs) in October 2018.
• The mining, logging, and construction (+15.6 percent); manufacturing (+7.9 percent); other services (+7.7 percent); leisure and hospitality (+6.1 percent); education and health services (+4.6 percent); professional and business services (+2.9 percent); and trade, transportation, and utilities (+2.5 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 (+15,700 jobs); mining, logging, and construction (+11,700 jobs); education and health services (+7,100 jobs); professional and business services
(+6,500 jobs); trade, transportation, and utilities (+5,800 jobs); manufacturing (+3,600 jobs); other services
(+3,300 jobs); and financial activities (+1,800 jobs).
• The government (-100 jobs) industry lost jobs over the year.
• The information industry was unchanged over the year.
• In October 2018 nonagricultural employment in The Villages MSA was 28,700, an increase of 600 jobs (+2.1
percent) over the year.

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