IMMEDIATE RELEASE MEDIA CONTACT:
September 21, 2018 Kim Bodine, 850-913-3285
Bay County Unemployment Rate Lower
Than State Average
PANAMA CITY, FL – Bay County
had lowest unemployment rate (3.4%) in the CareerSource Gulf Coast region
(including Bay and Gulf Counties) for the month of August.
The regional unemployment was 3.4 percent in August, a decrease of 0.6 percent over the year. CareerSource Gulf Coast maintained a lower rate than the state, which came in at 3.8 percent for August. The region’s labor force was 103,026, up 1,174 (+1.2 percent) over the year. There were 3,477 unemployed residents across the three counties.
“We had an increase of 2,200 jobs over last year in the Panama City MSA alone, and our unemployment rate was lower than the state’s,” said Kimberly Bodine, Executive Director for CareerSource Gulf Coast. “We are still down in manufacturing jobs, but with all the recent announcements about bringing more manufacturing to the area, that gap will soon close. Bay County is in a great place economically and poised for more job growth.”
Unemployment Rates (%) (not seasonally adjusted)
Franklin County 3.5 3.5 3.5
Gulf County 3.6 3.9 4.0
August 2018, nonagricultural employment in the Panama City MSA was 88,200, an increase of 2,200 jobs (+2.6
percent) over the year. The Panama City MSA had the fastest annual job growth
rate compared to all the metro areas in the state in professional and business
services (+4.7 percent) in August 2018.
industries gaining in jobs over the year were: trade, transportation and
utilities (+800 jobs); leisure and hospitality (+500 jobs); mining, logging and
construction (+300 jobs); professional and business services (+300 jobs);
government (+300 jobs); financial activities (+100 jobs): and education and
health services (+100 jobs). The manufacturing (-200 jobs) industry lost jobs
over the year.
The July Bay County bed tax collections for July 2018 at 6% over the previous year and 19% above July 2016. Gulf County bed tax collections are up 4% from last year and up almost 44% from July 2016. Franklin County’s June bed tax numbers reflect an increase of almost 19% from last year and almost 26% from June 2016.
County only reported one commercial permit (valued at $1.5 million) and 64
residential permits pulled (valued at almost $18.3 million) for August 2018.
Gulf County reported no commercial permits, but had 11 residential permits
pulled (valued at almost $3.2 million) for August 2018; Franklin County also
did not report any commercial permits, but had one residential permit pulled
(valued at $116,454).
Florida Unemployment Data
Florida’s seasonally adjusted unemployment rate was 3.7 percent in August 2018, unchanged from the July 2018 rate, but down 0.3 percentage point from a year ago. There were 375,000 jobless Floridians out of a labor force of 10,244,000. The U.S. unemployment rate was 3.9 percent in August.