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Gulf Coast Region Gains Two Thousand Plus Jobs Over Last Year

March 28, 2018

 

PANAMA CITY, FL – The unemployment rate for the CareerSource Gulf Coast region (Bay, Franklin, and Gulf counties) is down to 4.0 % for February 2018, a slight improvement over January and down almost one percent from February 2017. Out of a labor force of 99,263 there were 3,934 unemployed individuals in the three county area.

“We expect an uptick in employment at this time of year as seasonal hiring for our region begins to heat up, but it is great news that we had an increase of more than  2000 jobs over last year for February,” said Kim Bodine, Executive Director for CareerSource Gulf Coast.

 

Unemployment Rates (%) (Not seasonally adjusted)

                                          Feb-18             Jan-18           Feb-17

Bay County                        4.0               4.5                 4.8

Franklin County                 3.5               3.8                 4.5

Gulf County                        4.0               4.4                  4.3

 

In February 2018 nonagricultural employment in the Panama City MSA was 83,900, an increase of 2,200 jobs (+2.7 percent) over the year. The mining, logging, and construction (+8.0 percent); professional and business services (+7.4 percent); financial activities (+7.1 percent); education and health services (+4.4 percent); leisure and hospitality (+4.0 percent); and trade, transportation, and utilities (+1.9 percent) industries grew faster in the metro area than statewide over the year.

The industries gaining in jobs over the year were: professional and business services (+800 jobs); education and health services (+500 jobs); leisure and hospitality (+500 jobs); mining, logging, and construction (+400 jobs); trade, transportation, and utilities (+300 jobs); and financial activities (+300 jobs).

The manufacturing (-300 jobs); government (-200 jobs); and information (-100 jobs) industries lost jobs over the year. While the number of Bay county residential permits issued in January dropped a bit compared to the previous year, February’s numbers indicated an increase of nearly 9% (8.68%) over the same month in 2017. Over January and February there were 22 new residential permits pulled; no commercial building permits were issued.

Bay County’s January bed tax shows a year over year increase for the month of 2.7% and Gulf reports an increase of 1.6% for the same period.  


 

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