SPACE COAST JOB WATCH: Brevard County Unemployment Rate Falls to 3.8 Percent in February

By  //  March 24, 2018

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Florida businesses created more than 25,000 private-sector jobs in February

Brevard County’s unemployment rate continues to decline according to the Florida Department of Economic Opportunity’s report released on Friday. Brevard’s unemployment rate fell to 3.8 percent in February, compared to 4.2 percent in January and 4.6  in February 2017. Out of a labor force of 267,652, more than 257,400 Brevardians are now employed.

BREVARD COUNTY, FLORIDA – Brevard County’s unemployment rate continues to decline according to the Florida Department of Economic Opportunity’s report released on Friday.

Brevard’s unemployment rate fell to 3.8 percent in February, compared to 4.2 percent in January and 4.6  in February 2017. Out of a labor force of 267,652, more than 257,400 Brevardians are now employed.

Governor Rick Scott announced that Florida businesses created more than 25,000 private-sector jobs in February.

Since December 2010, Florida businesses have created nearly 1.5 million jobs. Florida’s annual job growth rate of 2.2 percent continues to exceed the nation’s rate of 1.8 percent.

Florida’s annual job growth rate has exceeded the nation’s rate for 70 of the past 71 months. The only month that Florida did not exceed the nation was a result of Hurricane Irma.

“I am proud to announce that Florida businesses created more than 25,000 new jobs last month, which means thousands of more opportunities are available for Floridians,” said Gov. Scott.

“Earlier this month, we concluded the 2018 legislative session by securing major initiatives that will help ensure this economic growth continues in Florida for years to come. This includes cutting taxes by nearly $550 million.”

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As of February, Florida’s unemployment rate remains low at 3.9 percent, a drop of 6.9 percentage points since December 2010. This drop is faster than the national decline of 5.2 percentage points.

In the last year, 136,000 people entered Florida’s labor force, a growth of 1.4 percent, which is greater than the national labor force growth rate of 1.2 percent, and shows more Floridians are looking for and finding jobs across the state.

“We are proud that businesses are continuing to create jobs in Florida, and that our state’s unemployment rate remains low at 3.9 percent,” said Cissy Proctor, Executive Director of the Florida Department of Economic Opportunity.

“The nearly 1.5 million jobs created under Governor Scott’s leadership demonstrate that the Sunshine State is the best place to live the American Dream.”

Other positive economic indicators include:

  • Private-sector industries gaining the most jobs over-the-year were:
    • Professional and business services with 46,900 new jobs;
    • Construction with 31,700 new jobs;
    • Leisure and hospitality with 25,600 new jobs;
    • Education and health services with 18,500 new jobs; and
    • Financial activities with 15,300 new jobs.
  • Florida job postings showed 250,145 openings in February 2018.

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