Florida’s job market holds steady in May with 3.3 percent unemployment rate

by | Jun 21, 2024

Florida’s unemployment rate remained steady at 3.3 percent in May, with the state adding 6,000 nonagricultural jobs and the labor force showing modest yearly growth amid a mixed performance across various sectors.

Florida’s job market remained steady in May, with a seasonally adjusted unemployment rate of 3.3 percent, the same as in April.

The Florida Department of Commerce reported 361,000 unemployed individuals out of a labor force of 11,081,000, marking a 0.5 percentage point increase in the unemployment rate from last year.

Employment figures dropped by 14,000 from April to 10,720,000 but increased by 47,000, or 0.4 percent, over the past year. The number of unemployed remained at 361,000, though this is an 18 percent increase from last year, adding 55,000 more jobless individuals.

Nationally, the U.S. unemployment rate rose to 4.0 percent in May, up 0.1 percentage points from April.The labor force shrank by 250,000 to 167,732,000, and employment fell by 408,000 to 161,083,000. The number of unemployed rose by 157,000 to 6,649,000, up 8.7 percent from last year.

Florida added 6,000 nonagricultural jobs in May, bringing the total to 9,951,600. Over the past year, the state gained 222,200 jobs, a 2.3 percent increase. The trade, transportation, and utilities sector led the growth, adding 55,700 jobs, a 2.8 percent increase. Education and health services followed with 51,900 new jobs, a 3.5 percent rise, and leisure and hospitality grew by 38,600 jobs, up 3 percent. Other sectors that saw growth included government, construction, other services, and manufacturing.

The financial activities sector lost 1,700 jobs, a 0.2 percent decrease, and the information sector shed 1,000 jobs, down 0.6 percent. The professional and business services sector saw no change in job numbers over the year.

Local statistics showed Monroe County with the lowest unemployment rate at 1.9 percent, followed by Miami-Dade County at 2.2 percent. Citrus County had the highest unemployment rate at 4.5 percent, with Highlands and Sumter counties each at 4.2 percent.

Among Florida’s metropolitan areas, the Miami-Miami Beach-Kendall area saw the largest job gains, adding 33,800 jobs, a 2.6 precent increase. The Tampa-Saint Petersburg-Clearwater area followed with 23,900 new jobs, up 1.6 percent, and the Fort Lauderdale-Pompano Beach-Deerfield Beach area added 21,100 jobs, a 2.3 percent increase.


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