CENTRAL FLORIDA’S UNEMPLOYMENT RATE AT 2.7% FOR OCTOBER 2019, 0.3 PERCENTAGE POINT LOWER THAN THE STATE

CENTRAL FLORIDA’S UNEMPLOYMENT RATE AT 2.7% FOR OCTOBER 2019, 0.3 PERCENTAGE POINT LOWER THAN THE STATE

by | Nov 22, 2019

FOR IMMEDIATE RELEASE

Nov 22, 2019

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

CENTRAL FLORIDA’S UNEMPLOYMENT RATE AT 2.7% FOR OCTOBER 2019, 0.3 PERCENTAGE POINT LOWER THAN THE STATE

Orlando, Fla. – The unemployment rate in the CareerSource Central Florida (CSCF) region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 2.7% in October 2019, which was 0.2 percentage points lower than the state rate of 2.9%. —0.3 percentage point lower than the rate of 3.0% during the same timeframe last year. The labor force was 1,428,380, up 41,879 (+3.0) over the year. There were 39,023 unemployed residents in the region.

Unemployment Rates

Central Florida’s Lowest Unemployment Rates:

  • Orange County and Seminole County had the lowest unemployment rate (2.6%) in the CSCF region followed by Lake County (2.9%), Osceola County (3.0%), and Sumter County (4.0%).
Unemployment Rates

(not seasonally adjusted)

 

Oct-19

 

Sep-19

 

Oct-18

CareerSource Central Florida 2.7% 2.8% 3.0%
Lake County   2.9% 2.9% 3.2%
Orange County   2.6% 2.7% 2.9%
Osceola County   3.0% 3.1% 3.3%
Seminole County   2.6% 2.7% 2.9%
Sumter County   4.0% 4.1% 4.6%
Florida   2.9% 3.0% 3.3%
United States   3.3% 3.3% 3.5%


Job Growth Trends

Orlando-Kissimmee-Sanford MSA:

  • Nonagricultural was 1,356,800, an increase of 44,900 Jobs (+3.4%) Over the Year.
  • Highest Annual Job Growth*
    • Professional and Business Services (+18,300 Jobs)
    • Leisure and Hospitality (+9,800 Jobs)
    • Mining, Logging, and Construction (+5,100 Jobs)
    • Government (+4,000 Jobs)
    • Manufacturing (+3,400 Jobs)
    • Education and Health Services (+3,300 Jobs)
    • Financial Activities (+1,100 Jobs)
  • Fastest Annual Job Growth Rate*
    • Manufacturing (+7.2%)
  • Second Highest Annual Job Growth*
    • Mining, Logging, and Construction (+5,100 jobs)
  • Third Fastest Annual Job Growth Rate*
    • Professional and Business Services (+7.7%)

The Villages MSA:

  • Nonagricultural Employment was 30,700, an Increase of 800 Jobs (+2.7%) Over the Year.

 

Trends in High Growth Industries (HGIs):

  • The Following HGIs Grew Faster in the CSCF Region than Statewide Over the Year:
    • Professional and Business services (+7.7%)
    • Manufacturing (+7.2%)
    • Mining, Logging, and Construction (+3.7%)
    • Government (+3.1%)
  • The Trade, Transportation, and Utilities Industry (-100 jobs) Lost Jobs Over the Year.

 

 

 

Nonagricultural Employment by Industry (not seasonally adjusted)

  Orlando-Kissimmee-Sanford

Metropolitan  Statistical Area

 

Oct-19            Oct-18           change

 

 

percent change

 

 

 

Oct-19

 

Florida

 

Oct-18           change

 

 

percent change

Total Employment   1,356,800 1,311,900 44,900 3.4 9,088,300 8,855,300 233,000 2.6
Mining, Logging, and Construction   90,100 85,000 5,100 6.0 582,500 557,500 25,000 4.5
Manufacturing   50,400 47,000 3,400 7.2 382,500 375,000 7,500 2.0
Trade, Transportation, and Utilities   240,900 241,000 -100 0.0 1,806,100 1,783,300 22,800 1.3
Wholesale Trade   46,500 45,800 700 1.5 352,900 347,500 5,400 1.6
Retail Trade   150,900 152,100 -1,200 -0.8 1,138,900 1,129,000 9,900 0.9
Transportation, Warehousing, and Utilities 43,500 43,100 400 0.9 314,300 306,800 7,500 2.4
Information   25,200 25,200 0 0.0 137,000 140,200 -3,200 -2.3
Financial Activities   76,900 75,800 1,100 1.5 598,000 582,100 15,900 2.7
Professional and Business Services   255,200 236,900 18,300 7.7 1,430,600 1,389,400 41,200 3.0
Education and Health Services   162,200 158,900 3,300 2.1 1,386,300 1,325,500 60,800 4.6
Leisure and Hospitality   277,400 267,600 9,800 3.7 1,257,800 1,215,400 42,400 3.5
Other Services   44,400 44,400 0 0.0 362,400 355,800 6,600 1.9
Government   134,100 130,100 4,000 3.1 1,145,100 1,131,100 14,000 1.2

 

Additional Information

 

Population

   

2018

 

2017

 

change

percent

change

CareerSource Central Florida 2,701,716 2,637,850 63,866 2.4
Lake County   356,495 345,087 11,408 3.3
Orange County   1,380,645 1,352,933 27,712 2.0
Osceola County   367,990 352,661 15,329 4.3
Seminole County   467,832 462,236 5,596 1.2
Sumter County   128,754 124,933 3,821 3.1
Florida   21,299,325 20,976,812 322,513 1.5

 

 

Average Annual Wage

   

2018

 

2017

 

change

percent

change

CareerSource Central Florida $47,717 $46,018 $1,699 3.7
Lake County   $38,237 $36,595 $1,642 4.5
Orange County   $49,942 $48,198 $1,744 3.6
Osceola County   $37,723 $36,852 $871 2.4
Seminole County   $48,722 $46,698 $2,024 4.3
Sumter County   $41,041 $39,789 $1,252 3.1
Florida   $50,090 $48,460 $1,630 3.4
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