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Bay County Unemployment Rate Lower Than State Average

September 21, 2018

 

                                                         

FOR 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)

Aug-18             July-18           Aug-17

Bay County                        3.4                 3.6                    4.0

Franklin County                3.5                 3.5                    3.5

Gulf County                       3.6                 3.9                     4.0

In 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.

 

The 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. 

 

Bay 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). 

 

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Additional Notes

 

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.

 

 

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Phone: (850) 872-4340
Fax: (850) 872-4346

625 Highway 231
Panama City, FL 32405

 

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Phone: (850) 913-3285
Fax: (850) 913-3269

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Panama City, FL 32401

 

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