CENTRAL FLORIDA’S UNEMPLOYMENT RATE DROPS TO 3.2 PERCENT FOR FEBRUARY 2019

CENTRAL FLORIDA’S UNEMPLOYMENT RATE DROPS TO 3.2 PERCENT FOR FEBRUARY 2019

by | Mar 22, 2019

FOR IMMEDIATE RELEASE

Mar 22, 2019

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

CENTRAL FLORIDA’S UNEMPLOYMENT RATE DROPS TO 3.2 PERCENT FOR FEBRUARY 2019

Orlando, Fla. – The unemployment rate in the CareerSource Central Florida region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 3.2 percent in February 2019. This rate was 0.4 percentage point lower than the region’s year ago rate of 3.6 percent. The region’s February 2019 unemployment rate was 0.2 percentage point lower than the state rate of 3.4 percent. The labor force was 1,391,110, up 39,538 (+2.9) over the year. There were 44,799 unemployed residents in the region.

 

  • Orange and Seminole counties had the lowest unemployment rate (3.1 percent) in the CareerSource Central Florida region followed by Lake County (3.5 percent), Osceola County (3.5 percent), and Sumter County (5.1 percent).

 

 

  • In February 2019 nonagricultural employment in the Orlando-Kissimmee-Sanford MSA was 1,329,700, an increase of 49,800 jobs (+3.9 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 professional and business services (+21,000 jobs); leisure and hospitality (+10,000 jobs); mining, logging, and construction (+5,200 jobs); manufacturing (+2,700 jobs); and government (+1,600 jobs) in February 2019.

 

 

  • The Orlando-Kissimmee-Sanford MSA had the fastest annual job growth rate compared to all the metro areas in the state in professional and business services (+9.3 percent) in February 2019.

 

 

  • The Orlando-Kissimmee-Sanford MSA had the second highest annual job growth compared to all the metro areas in the state in trade, transportation, and utilities (+2,900 jobs) and education and health services (+4,700 jobs) in February 2019.

 

 

  • The professional and business services (+9.3 percent); mining, logging, and construction (+6.5 percent); manufacturing (+5.9 percent); leisure and hospitality (+3.8 percent); other services (+2.5 percent); and government (+1.2 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 (+21,000 jobs); leisure and hospitality (+10,000 jobs); mining, logging, and construction (+5,200 jobs); education and health services (+4,700 jobs); trade, transportation, and utilities (+2,900 jobs); manufacturing (+2,700 jobs); government (+1,600 jobs); other services (+1,100 jobs); and financial activities (+1,000 jobs).

 

 

  • The information industry (-400 jobs) lost jobs over the year.

 

 

  • In February 2019 nonagricultural employment in The Villages MSA was 30,700, an increase of 600 jobs (+2.0 percent) over the year.

 

 

Unemployment Rates

(not seasonally adjusted)

 

Feb-19

 

Jan-19

 

Feb-18

CareerSource Central Florida 3.2% 3.7% 3.6%
Lake County 3.5% 3.9% 3.8%
Orange County 3.1% 3.5% 3.4%
Osceola County 3.5% 4.0% 3.9%
Seminole County 3.1% 3.5% 3.4%
Sumter County 5.1% 5.6% 5.5%
Florida 3.4% 3.9% 3.8%
United States 4.1% 4.4% 4.4%

 

 

Nonagricultural Employment by Industry (not seasonally adjusted)

Orlando-Kissimmee-Sanford

Metropolitan Statistical Area

 

Feb-19 Feb-18 change

 

percent change

 

Feb-19

 

Florida

 

Feb-18 change

 

percent change

Total Employment 1,329,700 1,279,900 49,800 3.9 8,939,200 8,735,200 204,000 2.3
Mining, Logging, and Construction 85,300 80,100 5,200 6.5 555,200 535,000 20,200 3.8
Manufacturing 48,200 45,500 2,700 5.9 377,200 367,200 10,000 2.7
Trade, Transportation, and Utilities 239,300 236,400 2,900 1.2 1,797,100 1,767,000 30,100 1.7
Wholesale Trade 45,800 44,400 1,400 3.2 349,800 343,600 6,200 1.8
Retail Trade 149,600 150,000 -400 -0.3 1,135,500 1,127,300 8,200 0.7
Transportation, Warehousing, and Utilities 43,900 42,000 1,900 4.5 311,800 296,100 15,700 5.3
Information 25,500 25,900 -400 -1.5 139,500 140,600 -1,100 -0.8
Financial Activities 76,300 75,300 1,000 1.3 586,900 569,200 17,700 3.1
Professional and Business Services 246,600 225,600 21,000 9.3 1,395,100 1,344,600 50,500 3.8
Education and Health Services 159,800 155,100 4,700 3.0 1,340,300 1,297,800 42,500 3.3
Leisure and Hospitality 272,300 262,300 10,000 3.8 1,252,800 1,229,000 23,800 1.9
Other Services 45,100 44,000 1,100 2.5 359,300 352,500 6,800 1.9
Government 131,300 129,700 1,600 1.2 1,135,800 1,132,300 3,500 0.3

 

 

 

Population

 

2017

 

2016

 

change

percent

change

CareerSource Central Florida 2,634,996 2,575,454 59,542 2.3
Lake County 346,017 335,431 10,586 3.2
Orange County 1,348,975 1,323,598 25,377 1.9
Osceola County 352,180 337,990 14,190 4.2
Seminole County 462,659 456,314 6,345 1.4
Sumter County 125,165 122,121 3,044 2.5
Florida 20,984,400 20,656,589 327,811 1.6

 

 

Average Annual Wage

 

2017

 

2016

 

change

percent

change

CareerSource Central Florida $46,018 $44,768 $1,250 2.8
Lake County $36,595 $36,002 $593 1.6
Orange County $48,198 $47,014 $1,184 2.5
Osceola County $36,852 $36,234 $618 1.7
Seminole County $46,698 $44,588 $2,110 4.7
Sumter County $39,789 $38,062 $1,727 4.5
Florida $48,460 $47,055 $1,405 3.0
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