22,900 jobs created over the year, while the region’s unemployment rate has dropped 2.2 percentage points since November 2011

Today, Governor Rick Scott announced the Tampa-St. Petersburg-Clearwater Metropolitan Statistical Area (MSA) led all metro areas in over the year job creation, with a gain of 22,900 jobs, and experienced a 2.2 percentage point decline in the unemployment rate during the same time period. The four counties that comprise the region also had large decreases in their unemployment rates over the year led by Hernando County’s drop of 3.5 percentage points. Additionally, since December 2010, the metro area’s unemployment rate has declined 3.3 percentage points, from 11.4 percent to 8.1 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.”

The Tampa-St. Petersburg-Clearwater MSA’s unemployment rate dropped from 10.3 percent last November to its current rate of 8.1 percent (not seasonally adjusted). Additionally, Hernando County’s rate dropped from 13.1 percent down to 9.6 percent, while Pasco County’s rate dropped 2.6 percentage points from 11.6 percent down to 9.0 percent. Pinellas County’s rate declined to 7.9 percent from 10.0 percent, a 2.1 percentage point change, and Hillsborough County’s rate decreased 1.9 percentage points, from 9.8 percent to 7.9 percent.

Since December 2010, each county has experienced a significant decline in its unemployment rate, led by Hernando with a 4.2 percentage point drop from 13.8 percent to 9.6 percent, followed by Pasco County with a 3.5 percentage point decrease from 12.5 percent to 9.0 percent, Pinellas County’s rate declined by 3.3 percentage points from 11.2 percent to 7.9 percent, and Hillsborough County’s rate decreased from 10.9 percent to 7.9 percent, a 3.0 percentage point drop.

In addition to the drop in its unemployment rate, the Tampa-St. Petersburg-Clearwater MSA led all metro areas in Florida in gains in the following industries (not seasonally adjusted):

  • Professional and Business Services (+9,700 jobs)
  • Education and Health Services (+8,800 jobs)
  • Information (+200 jobs)

Additionally, the metro area ranked second in gains in leisure and hospitality (+7,400 jobs).

Housing starts in the Tampa-St. Petersburg-Clearwater metro area were up in October 2012 (the latest available data) both over the month, 20.5 percent, and over the year, 61.3 percent. Hillsborough County led the state in demand for new STEM occupations (8,413 openings) and was third overall in new online job demand in November (+22,604 openings). STEM is an acronym for science, technology, engineering and mathematics, and these jobs are considered high wage and high skill.

Also, in November, WorkNet Pinellas and Tampa Bay Workforce Alliance along with the state’s other 22 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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