DEO Releases Labor Market Info for May 2018

The Department of Economic Opportunity has released the Labor Market Information for the month of May, 2018. The national unemployment rate edged down again this past month to from 3.9 to 3.8 percent. Nationally approximately 223,000 jobs were created in the month of May.

Florida’s Unemployment Rate

Florida’s seasonally adjusted unemployment rate also dipped slightly to match the national level at 3.8 percent which is 0.1 percent down from last month and still down 0.4%  from a year ago.

There were 391,000 jobless Floridians out of a labor force of 10,217,000.

Florida’s seasonally adjusted total non-agricultural employment was 8,746, 800 (+.02 percent) over the month. The state gained 180,200 jobs over the year, an increase of 2.1 percent.

Polk County Nonagricultural Employment

The unemployment rate in the CareerSource Polk region (Polk County) remained stable at 3.7 percent in May 2018. This rate was lower  by 0.7 percent if compared to the region’s rate of 4.4 percent a year ago.

Out of a labor force of 300,200 there were 11,126 unemployed residents in the region. The non-agricultural employment in Lakeland-Winter Haven was 226,500 which is an increase of 5,900 jobs (+2.7 percent) over the year. This region had the fastest annual job growth rate if compared to all metro areas in the state in trade, transportation and utilities. The industries that showed the most growth were mining, logging and construction (+6.9 percent); professional and business services (+5.1 percent); trade, transportation and utilities (+30 percent); government had a slight increase at (+1.1 percent).

Industries gaining the most in number of jobs were: trade, transportation and utilities (+1,700 jobs); professional and business services (+1,500 jobs); mining, logging and construction (+900 jobs) and manufacturing which had an increase of (+500 jobs).

To view an interactive graph of Florida’s total nonagricultural employment, Click here

In May 2018 nonagricultural employment in the Lakeland?Winter Haven MSA was 226,500, an increase of 5,900 (+2.7 percent) over the year.

  • The Lakeland?Winter Haven MSA annual job growth rate compared to all the metro areas in the state in professional and business services was 3.7 percent) in May 2018 which is an increase of .3 from last month.
  • The Lakeland-Winter Haven MSA had the third fastest annual job growth rate compared to all the metro areas in the state in trade, transportation, and utilities (+3.0 percent) in May 2018.
  • The mining, logging, and construction (+6.9 percent); professional and business services (+5.1 percent); trade, transportation, and utilities (+3.0 percent); other services (+1.7 percent); and government (+1.1 percent) industries grew faster in the metro area than statewide over the year.
  • The industries gaining in jobs over the year were: trade, transportation, and utilities (+1,700 jobs); professional and business services (+1,500 jobs); mining, logging, and construction (+900 jobs); manufacturing (+500 jobs); leisure and hospitality (+500 jobs); financial activities (+300 jobs); government (+300 jobs); education and health services (+100 jobs); and other services (+100 jobs).
  • The information industry was unchanged over the year.