21,400 jobs gained over the year ranks second among metro areas, while construction continues to rebound 

Today, Governor Rick Scott announced the Orlando-Kissimmee-Sanford Metropolitan Statistical Area (MSA) had a significant decline in its unemployment rate over the year, dropping to a current rate of 7.8 percent, while ranking second among all MSAs in total job creation during the same time period. The November 2012 rate was a 2.1 percentage point decrease from the November 2011 rate, while all four counties comprising the region also experienced rate declines of 1.7 percentage points or more over the year. Since December 2010, the metro area’s unemployment rate has declined 3.1 percentage points from 10.9 percent.

Governor Scott said, “In communities all throughout Florida, families are finding new job opportunities. Since 2010, the private sector has created more than 200,000 private sector jobs, Florida’s housing market is improving – and unemployment is down. I’m committed to growing more jobs for Florida families, and while our work isn’t finished, we’ll continue working to make Florida the best place in the world to find a job and raise a family.”

In addition to the drop in its unemployment rate, the Orlando-Kissimmee-Sanford MSA gained 21,400 nonagricultural jobs over the year. This included leading all metro areas in job gains in leisure and hospitality (+8,900) and a third consecutive month of leading all metro areas in gains in construction (+2,900) following 68 consecutive months of losses. These data are not seasonally adjusted.

Housing starts in the Orlando-Kissimmee-Sanford MSA were the strongest in the state, up 77.6 percent in October 2012 (the latest available data) compared to a year ago.  Over the month, housing starts were up by 26.5 percent.

Over the past year, Lake, Orange, Osceola and Seminole counties have all seen significant decreases in their unemployment rates. Osceola County led the way with a 2.4 percentage point decline, going from 11.2 percent to 8.8 percent. Lake County was second with a 2.2 percentage point drop, from 10.6 percent to 8.4 percent. Orange County’s rate dropped 2.1 percentage points from 9.8 percent to 7.7 percent and Seminole County’s rate went from 9.0 percent to 7.3 percent, a 1.7 percentage point drop.

Since December 2010, Lake led the metro area counties having the largest decline in the unemployment rate, going from 11.9 percent to 8.4 percent, a 3.5 percentage point drop, followed by Osceola County’s 3.3 percentage point drop from 12.1 percent to 8.8 percent, Orange County’s 3.0 percentage point drop from 10.7 percent to 7.7 percent, and Seminole County’s 2.6 percentage points drop from 9.9 percent to 7.3 percent.

Orange County also had the second-highest online job demand in Florida in November 2012 and ranked number three in demand for STEM-related occupations in the state. STEM is an acronym for science, technology, engineering and mathematics, and these jobs are considered high wage and high skill.

Also in November, Workforce Central Florida along with the state’s other 23 Regional Workforce Boards reported more than 46,000 Floridians were placed in jobs. An individual who receives employment and training assistance through a One-Stop Career Center and finds a job within 180 days is deemed a placement and may be reported by a regional workforce board. Of these individuals, 14,211 previously received Reemployment Assistance. Since January, more than 383,000 Floridians were placed in jobs, with nearly 98,000 former claimants finding employment.

Florida’s seasonally adjusted unemployment rate dropped to 8.1 percent for the month of November, the lowest since November 2008. The November 2012 rate was down 0.4 percentage point from the October rate of 8.5 percent.  This was the largest drop in the rate over the month since October 1992, and was the second time it occurred this year. The November 2012 rate was 2.0 percentage points lower than the year-ago rate of 10.1 percent.  Private sector job growth over the month jumped to more than 24,000. Since December 2010, the state’s unemployment rate has dropped 3.0 percentage points and 202,500 private sector jobs have been created.

To view the November 2012 monthly employment data, visit:

www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

 

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