Saturday, May 17, 2014

Florida Unemployment Rate 6.2%

Governor Rick Scott

TALLAHASSEE, Florida -- Florida’s seasonally adjusted unemployment rate was 6.2% in April 2014 which is 1.7 percentage points less from 7.9% a year ago.


There were 599,000 jobless Floridians out of a labor force of 9,608,000.  The U.S. unemployment rate was 6.3% in April.  Florida’s unemployment rate was 0.1 percentage point lower than the U.S. rate and was below the national rate for the ninth consecutive month.


The number of jobs in Florida was 7,778,500 in April 2014, up 246,800 jobs compared to a year ago. April 2014 was the 45th consecutive month with positive annual job growth after the state lost jobs for over three years. The industry gaining the most jobs was professional and business services (+56,200 jobs, +5.1 percent).


“April’s job creation number of more than 33,000 jobs is great news for Florida families," said Florida Governor Rick Scott. "With Florida’s unemployment rate dropping to 6.2 percent, we’re succeeding in creating an opportunity economy. The state’s private sector has created more than 600,000 jobs for Florida families since December 2010, and we are another step toward making sure every Floridian who wants a job can get one.” 


In April 2014, the fourth month in a row, Florida’s labor force again increased over the month and over the year. Labor force was 9,608,000 in April 2014 and is defined as the sum of employment plus unemployment (those without a job, but actively seeking work). Furthermore, Florida’s labor force participation rate, which is labor force divided by the total civilian noninstitutional population, was 60.7 percent in April 2014, up 0.2 percentage point from the March 2014 participation rate of 60.5 percent.



Other industries gaining jobs included leisure and hospitality (+54,500 jobs, +5.3 percent); trade, transportation, and utilities (+47,000 jobs, +3.0 percent); construction (+43,300 jobs, +12.1 percent); private education and health services (+21,100 jobs, +1.9 percent); financial activities (+11,800 jobs, +2.3 percent); manufacturing (+7,300 jobs, +2.3 percent); other services (+5,000 jobs, +1.6 percent); and information (+2,500 jobs, +1.9 percent).


These industry job gains were partially due to increases in employment services; food services and drinking places; food and beverage stores; specialty trade contractors; ambulatory health care services; insurance carriers and related activities; fabricated metal product manufacturing; personal and laundry services; and telecommunications.


Total government (-2,000 jobs, -0.2 percent) lost jobs over the year. These losses were due to state and local government.


All unemployment rate numbers released are known as U-3, which consists of total unemployed, as a percent of the civilian labor force.



Brevard County Unemployment Rate

Leisure and Hospitality led job gains in Brevard County.  Brevard Times / File Photo.
 
The unemployment rate (not seasonally-adjusted) on Florida's Space Coast dropped to 6.3% in April 2014 from 7.8% in April 2013.  Job gains were led by an increase in leisure and hospitality (+900 jobs) and mining, logging, and construction jobs (+700 jobs) which helped to offset the loss of manufacturing jobs (-800), professional and business services jobs (-400),  government jobs (-300), and financial jobs (-100).


Out of a labor force of 262,528, there were 16,570 unemployed Brevard County residents in April 2014.


Total nonagricultural employment increased by 600 jobs over the year in the Palm Bay-Melbourne-Titusville metro area.


Other industries that gained jobs over the year included trade, transportation, and utilities; education and health services; and other services (+200 jobs each).