Florida's January 2016 employment figures released

Florida’s seasonally adjusted unemployment rate was 5.0 percent in January 2016, down 0.1 percentage point from the revised December 2015 rate of 5.1 percent, and down 0.7 percentage point from 5.7 percent a year ago. There were 492,000 jobless Floridians out of a labor force of 9,764,000. The U.S. unemployment rate was 4.9 percent in January. Florida’s unemployment rate has been less than or equal to the national rate for 24 of the last 38 months.

Florida’s seasonally adjusted total nonagricultural employment was 8,243,700 in January 2016, an increase of 32,200 jobs (+0.4 percent) over the month. Compared to January a year ago, the number of jobs in the state was up by 263,900, an increase of 3.3 percent. Nationally, the number of jobs was up 1.9 percent over the year. Florida’s annual job growth rate has exceeded the nation’s rate since May 2012.

Florida’s Nonagricultural Employment by Industry (Seasonally Adjusted)

• The number of jobs in Florida was 8,243,700 in January 2016, up 263,900 jobs compared to a year ago. January 2016 was the 66th 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 (+66,300 jobs, +5.5 percent).
• Other industries gaining jobs included leisure and hospitality (+50,500 jobs, +4.5 percent); trade, transportation, and utilities (+39,900 jobs, +2.4 percent); education and health services (+37,500 jobs, +3.2 percent); construction (+30,500 jobs, +7.3 percent); financial activities (+13,700 jobs, +2.6 percent); manufacturing (+12,800 jobs, +3.8 percent); total government (+7,600 jobs, +0.7 percent); and other services (+7,100 jobs, +2.2 percent).
• The only industry that lost jobs over the year was information (-2,100 jobs, -1.5 percent). 

Local Area Unemployment Statistics (Not Seasonally Adjusted)

• In January 2016, Monroe County had the state’s lowest unemployment rate (3.3 percent), followed by St. Johns County (3.8 percent) and Lafayette County (4.3 percent).
• Hendry County had the highest unemployment rate (8.4 percent) in Florida in January 2016, followed by Sumter County (7.3 percent) and Citrus County (7.2 percent).

Area Nonagricultural Employment (Not Seasonally Adjusted)

• All twenty-four metro areas in the state had over-the-year job gains in January 2016. The areas with the largest gains were Orlando-Kissimmee-Sanford (+55,500 jobs, +4.9 percent), Tampa-St. Petersburg-Clearwater (+44,300 jobs, +3.6 percent), and Ft. Lauderdale-Pompano Beach-Deerfield Beach (+28,300 jobs, +3.6 percent)

For more detail with charts, see the report from the Florida Depatment of Economic Opportunity, here.

Note: The unemployment and job growth rates are estimates, which are primarily based on surveys created and mandated by the U.S. Bureau of Labor Statistics in cooperation with the Florida Department of Economic Opportunity.

The unemployment rate is derived from Florida household surveys conducted by the U.S. Census Bureau under contract with the U.S. Bureau of Labor Statistics. The job growth rate is derived from Florida employer surveys conducted by the U.S. Bureau of Labor Statistics.

Both estimates are revised on a monthly basis. In addition, these estimates are benchmarked (revised) annually based on actual counts from Florida's Reemployment Assistance tax records and other data.

Procedures mandated by the U.S. Bureau of Labor Statistics may result in more variable month-to-month changes. For further information, go to: http://www.bls.gov/sae/cesprocs.htm

The mission of the Florida Department of Economic Opportunity is to promote economic prosperity for all Floridians and businesses through successful workforce, community, and economic development strategies. Please visit www.floridajobs.org for more information. The next Florida Employment and Unemployment release will be March 25, 2016, at 10:00 A.M

Tags: Government/Politics & Law, employment