Jobless rate falls in August — CareerSource CLM

Jobless rate falls in August

Jobless rate falls across area in August

OCALA MSA POSTS 3RD FASTEST JOB GROWTH IN MANUFACTURING

Media Contact: Laura Byrnes, APR, CPRC
Communications Manager
Direct: 352-291-9559 | Mobile: 352-816-1264
lbyrnes@careersourceclm.com

OCALA, Fla. (Sept. 16, 2016) – The unemployment rate in the CareerSource Citrus Levy Marion area was 6.0 percent in August, down 0.4 percent over the month and a drop of 0.7 percent compared to a year ago. Out of a labor force of 194,826, there were 11,783 unemployed.

The Florida Department of Economic Opportunity’s preliminary employment report for August shows that Levy County continued to have the lowest unemployment rate in the region at 5.2 percent, followed again by Marion County at 5.9 percent, with Citrus County posting 6.8 percent. Florida’s not seasonally adjusted rate for August July was 4.9 percent, down 0.2 percentage point over the month, and the national rate was 5.0 percent, down 0.1 percent.

The drop in the August jobless rate is consistent with trends for the area over the past several years. Historically, regardless of the state of the economy, unemployment spikes in July and rebounds by September or October.

Statewide, the unemployment rate dropped in 65 counties and rose in two.

According to DEO’s preliminary report for August, here’s how each county in the CareerSource CLM area fared:

Citrus County's labor force grew by 735 to 47,386, the number of employed increased by 933 to 44,178 and those unemployed fell by 198 to 3,208. Compared to August 2015, when the jobless rate was 7.6 percent, there are 424 fewer unemployed. 
Levy County's labor force shrank by 72 to 16,410, the number of employed remained virtually unchanged, dropping by 12 to 15,551, and the number of jobless fell by 60 to 859. In August 2015, there were 955 unemployed and the rate was 5.8 percent.
Marion County’s labor force fell by 828 to 131,030, the number of those with jobs dropped by 376 to 123,314 and the number of unemployed fell by 452 to 7,716. A year ago, when the unemployment rate was 6.5 percent, there were 871 more unemployed and 192 fewer employed compared to August 2016.
Among Florida’s metropolitan statistical areas, Homosassa Springs, which covers all of Citrus County, had the second highest unemployment rate, The Villages at 6.7 percent had the third highest rate, and the Ocala metro area held the fifth highest for the second consecutive month.

In terms of ranking by county, Citrus County fell from third to the fifth highest jobless rate, Marion County tied with Okeechobee County in 13th place and Levy County tied with Jefferson and Brevard counties with the 27th highest rate.

The Ocala metro’s nonagricultural employment in August was 98,700 – an increase of 900 jobs since July and 1,100 more jobs over the year. The Ocala MSA also continued to post the third fastest annual job growth rate in manufacturing, at 5.2 percent and 400 new jobs, compared to all Florida metro areas.

Job growth in education and health services, at 5.1 percent and 900 new jobs, and in leisure and hospitality, at 3.4 percent and 400 new jobs, also outpaced the state’s growth rate for those industry sectors.

Government added 200 jobs over the year, posting a 1.4 percent job growth rate which matched the state’s rate.

Industry sectors losing jobs over the year were trade, transportation and utilities (-400 jobs); professional and business services (-200 jobs); mining, logging and construction (-100 jobs); and information (-100 jobs).   

Financial activities and other services were unchanged over the year.

In August, nonfarm employment for the Homosassa Springs MSA was 32,800 – an increase of 1,200 jobs over the month and an increase of 0.9 percent and 300 more jobs over the year.

The employment report for September will be released on October 21.

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