Gov. Scott: Pensacola Metro Area unemployment declined by 2.0 percentage points over the year

Today, Governor Rick Scott announced the Pensacola-Ferry Pass-Brent Metropolitan Statistical Area’s (MSA) unemployment rate declined by 2.0 percentage points over the year, from 8.3 percent in January 2013 to 6.3 percent in January 2014. The area experienced positive annual job growth over the year in January 2014 with 2,200 new jobs.

Governor Scott said, “As the Pensacola metro area continues to see positive annual job growth with 2,200 new jobs and an unemployment rate decline to 6.3 percent, I am confident that more Florida families are getting back to work. Let’s keep working to create an environment where every Floridian has an opportunity to get a great job right here in the Sunshine State.”

The industries with the largest job gains in the Pensacola metro area over the year were in leisure and hospitality with 800 new jobs, trade, transportation, and utilities with 700 new jobs, and financial activities with 600 new jobs. In January 2014, the Pensacola metro area had the fastest annual job growth rate of all the state’s metro areas in financial activities with 6.5 percent growth.

The Pensacola metro area had 3,382 online job openings in January 2014 and had 714 openings for STEM occupations. STEM is an acronym for science, technology, engineering and mathematics, and these jobs are considered high wage and high skill.

In January, CareerSource Escarosa, along with the state’s other 23 Regional Workforce Boards, reported more than 38,800 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, 10,106 previously received Reemployment Assistance. In 2013, more than 479,064 Floridians were placed in jobs, with 135,384 former claimants finding employment.

Florida’s statewide unemployment rate for January 2014 was 6.1 percent, the lowest unemployment rate in the state since June 2008. Florida’s statewide unemployment rate has been below the national unemployment rate since August 2013, which was 6.6 percent in January. Since December 2010, Florida has gained 503,500 private sector jobs.

Every March, U.S. Department of Labor, Bureau of Labor Statistics (BLS) releases revised historical employment (jobs) and unemployment rates based on a benchmarking process to adjust the data. These benchmark revisions are mandated by BLS and take place this time every year in every state. The benchmark revisions represent an annual change in the level of employment or re-anchoring of survey estimates to actual employment counts from Reemployment Assistance tax records. This process also introduces new population inputs from the most recent Census and other revisions to economic data which leads to changes in the original estimates.

Employment data for February 2014 will be released on March 28, 2014. To view the January 2014 employment data visit www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

 

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