ECONOMIC REPORT: Space Coast Area Added 8,100 New Private-Sector Jobs in the Last Year

By  //  November 16, 2018

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Brevard’s unemployment rate dropped to 3.0 percent, compared to 3.9 percent year-over-year

Brevard County’s unemployment rate dropped to 3.0 percent in October, compared to 3.9 percent year-over-year, according to statistics released by the State of Florida. The Space Coast area added 2,100 new private-sector jobs since last month and 8,100 new private-sector jobs in the last year, for a total of 221,500.

BREVARD COUNTY, FLORIDA – Brevard County’s unemployment rate dropped to 3.0 percent in October, compared to 3.9 percent year-over-year, according to statistics released by the State of Florida.

The Space Coast area added 2,100 new private-sector jobs since last month and 8,100 new private-sector jobs in the last year, for a total of 221,500.

Governor Rick Scott and the Florida Department of Economic Opportunity also announced that Florida’s private-sector job growth continues to outpace the nation and every county in Florida has experienced a drop in unemployment since December 2010.

Florida’s unemployment rate dropped to 3.4 percent, the lowest since January 2007. Unemployment has decreased by 7.4 percentage points since December 2010, a drop that is faster than the national decline of 5.6 percentage points.

The Orlando area added 55,500 new private-sector jobs, marking 43 consecutive months of the Orlando area having the highest job creation in the state.

The unemployment rate in Orlando was 2.7 percent in October, down 0.7 percentage point from one year ago. The industries with the highest growth over the year in the Orlando area were leisure and hospitality and construction.

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The Tampa area added 34,000 new private-sector jobs in the last year, creating the second-highest number of jobs among all Florida metro areas.

Tampa’s unemployment rate was a low 2.9 percent in October, down 0.7 percentage point from one year ago. The industry with the highest growth over the year in the Tampa area was education and health services.

The Miami area added 30,500 new private-sector jobs in the past year, the third-highest number of jobs among all Florida metro areas.

The unemployment rate in Miami was 3.6 percent in October down 1.1 percentage points from one year ago. The industries with the highest growth over the year in the Miami area were construction, education and health services and trade, transportation and utilities.

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The Fort Lauderdale area added 18,300 new private-sector jobs in the past year, continuing to be among the top five Florida metro areas for private-sector job growth. Fort Lauderdale’s unemployment rate dropped to a low 2.8 percent in October, down 0.8 percentage point from one year ago. The industries with the highest growth over the year in the Fort Lauderdale area were construction, trade, transportation and utilities and other services.

The West Palm Beach area added 19,300 new private-sector jobs in the past year. West Palm Beach’s unemployment rate remained a low 3.1 percent in October, down 0.7 percentage point from one year ago. The industry with the highest growth over the year in the West Palm Beach area was leisure and hospitality.

The Jacksonville area added 13,900 new private-sector jobs in the past year. Jacksonville’s unemployment rate was a low 2.9 percent in October, down 0.6 percentage point from one year ago. The industries with the highest growth over the year in the Jacksonville area were education and health services and leisure and hospitality.

The Fort Myers area added 10,600 new private-sector jobs in the past year. Fort Myers’ unemployment rate remained a low 2.9 percent in October, down 0.8 percentage point from one year ago. The industry with the highest growth over the year in the Fort Myers area was construction.

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The Naples area added 6,000 new private-sector jobs in the past year. Naples’ unemployment rate dropped to 3.1 percent in October, down 1.1 percentage points from one year ago. The industries with the highest growth over the year in the Naples area were leisure and hospitality and construction.

The Pensacola area added 3,400 new private-sector jobs in the past year. Pensacola’s unemployment rate remained a low 2.9 percent in October, down 0.7 percentage point from one year ago. The industries with the highest growth over the year in the Pensacola area were leisure and hospitality and education and health services.

Florida’s statewide unemployment rate dropped to a decade-low 3.4 percent, a decrease of 7.4 percentage points since December 2010; this drop is faster than the national decline of 5.6 percentage points. Florida businesses have created 1,648,300 jobs since December 2010 and 21,200 private-sector jobs in October. In the past year, In the past year, 107,000 people entered Florida’s labor force, a growth of 1.1 percent.

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