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Regional Unemployment Remains Steady

October 19, 2016

 

The CareerSource Gulf Coast Region (Bay, Gulf and Franklin Counties) posted a largely unchanged unemployment rate for the month of September.

 

The unemployment rate in the region was 4.7 percent in September 2016. This rate was 0.2 percentage point lower than the region's year ago rate of 4.9 percent, and 0.3 percentage point lower than the state rate of 5.0 percent. Out of a labor force of 99,406 there were 4,653 unemployed residents in the region. 

 

Unemployment Rates (%) (not seasonally adjusted)

                              Sept-16       Aug-16       Sept-15

Bay County              4.7               4.6                 4.9

Franklin County      4.0               4.1                 4.3

Gulf County              4.3               4.3                 4.8 

 

In September 2016, nonagricultural employment in the Panama City MSA was 83,400, an increase of 800 jobs (+1.0 percent) over the year.

 

The industries gaining in jobs over the year were: leisure and hospitality (+900 jobs); education and health services (+600 jobs); government (+300 jobs); financial activities (+200 jobs); professional and business services (+100 jobs). The trade, transportation, and utilities (?1,200 jobs); manufacturing (?100 jobs) industries lost jobs over the year. The mining, logging, and construction; information; and other services industries were unchanged over the year.

 

The Panama City MSA had the second fastest annual job growth rate compared to all the metro areas in the state in education and health services (+5.5 percent) in September 2016, and the third fastest annual job growth rate compared to all the metro areas in the state in leisure and hospitality (+6.3 percent).

 

“Tourism is and has always been a large part of our economy but we’re happy to see the job growth in some other areas as well,” said Kim Bodine, Executive Director of CareerSource Gulf Coast. “We’ll continue our work with all of our regional economic development partners to strengthen and diversify our job base, and bring even more good paying jobs to the area.”

 

According to the Bureau of Labor Statistics, median weekly earnings of the nation's 112.8 million full-time wage and salary workers were $827 in the third quarter of 2016 (not seasonally adjusted). This was 3.0 percent higher than a year earlier. 

 

CareerSource Gulf Coast provides services to job seekers and employers in Bay, Gulf and Franklin Counties.

 

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