The first yearly report from the Department of Economic Opportunity on Labor Market Information has been released, as well as the national information from the US Department of Labor. In January 6, the national report on employment statistics showed lower unemployment rates in six states of the union, while 44 states remained stable or unchanged. The national unemployment rate remained unchanged from December at 4.1 percent. Non-farm employment increased slightly in three states, decreased in one and remained essentially unchanged in the rest which keeps figures as they were at the end of 2017.
Florida’s Unemployment Rate
Looking into our own “Sunshine State”, the seasonally adjusted rate was lower than the national average, by remaining at 3.9 percent, same as December of 2017. This figure however is down 0.7 percent from January of 2017. There were 397,000 jobless Floridians out of a labor force of 10,152,000.
Florida’s seasonally adjusted total non-agricultural employment was 8,670,500 in January 2018, an increase of 10,500 jobs (+0.1 percent) over the month. The state gained 150,900 jobs over the year, an increase of 1.8 percent. Nationally, the number of jobs rose 1.5 percent over the year. Prior to September 2017, Florida’s over-the-year job growth rate had exceeded or equaled the nation’s rate since May 2012.
Polk County's Unemployment Rate
The unemployment rate in Polk County was 4.6 percent in January 2018. This rate was lower if compared to the county's year ago rate of 5.5 percent.
Out of a labor force of 297,494 there were 13,655 unemployed residents in the region.
Polk County Nonagricultural Employment
In January 2018 nonagricultural employment in the Lakeland‐Winter Haven MSA was 224,200, an increase of 5,800 (+2.7 percent) over the year.
To view an interactive graph of Florida's total nonagricultural employment, Click here.
• The Lakeland‐Winter Haven MSA annual job growth rate compared to all the metro areas in the state in professional and business services was 4.6 percent) in January 2018.
• Non-store retailers - Electronic shopping (+22.3 percent) was the industry that grew faster in the metro area than statewide over the year.
• Other industries gaining jobs included professional and business services (+1,500 jobs); trade, transportation, and utilities (+1,100 jobs); mining, logging, and construction (+1,000 jobs); leisure and hospitality (+900 jobs); education and health services (+600 jobs)
• The government (+500 jobs) gained over the year; manufacturing (+100 jobs) and financial activities (+100 jobs).
• The information industry decreased (-800.)
For a complete LMI report please visit: Click here
The February 2018 labor statistics will be released on Friday, March 23, 2018.
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