Regional Unemployment Rate Down 1.6 Percentage Points from 2012 - WMBB News 13 - The Panhandle's News Leader

Regional Unemployment Rate Down 1.6 Percentage Points from 2012

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The unemployment rate in the Gulf Coast Workforce region (Bay, Franklin, and Gulf counties) was 6.0 percent in October 2013.

The October 2013 rate was 1.6 percentage points lower than the region's year ago rate of 7.6 percent and 0.6 percentage point below the October 2013 state rate of 6.6 percent.   Out of a labor force of 96,935, there were 5,840 unemployed Gulf Coast residents.

The October 2013 unemployment rates in the counties that comprise the Gulf Coast Workforce region were: 5.0 percent in Franklin County, 6.0 percent in Bay County, and 6.7 percent in Gulf County.

"Locally, we are seeing positive indicators including growing job opportunities in the manufacturing sector," said Kim Bodine, executive director of the Gulf Coast Workforce Board. "We are also seeing many jobs being created as the retail industry ramps up their seasonal hiring."

In October 2013, there were 70,700 nonagricultural jobs in the Panama City-Lynn Haven-Panama City Beach metro area (Bay County), down 2,200 jobs over the year. The Panama City-Lynn Haven-Panama City Beach metro area's annual rate of job loss was -3.0 percent, while the state increased at a rate of +2.4 percent.

Two out of 10 industries gained jobs over the year and six industries lost jobs over the year. Mining, logging, and construction (+200 jobs) and manufacturing (+100 jobs) were the only industries that gained jobs over the year.  The industries losing jobs were government (-800 jobs); leisure and hospitality (-600 jobs); trade, transportation, and utilities (-500 jobs); education and health services (-300 jobs); professional and business services (-200 jobs); and financial activities (-100 jobs). Information and other services remained unchanged over the year.

The Panama City metro area lost the most jobs over the year of all metro areas in Florida.  The metro area also lost the most jobs in trade, transportation, and utilities and leisure and hospitality.

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Information provided by the Gulf Coast Workforce Board

 

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