Gov. Scott: West Palm Beach Metro Area economy added 14,000 in February over the year

Today, Governor Rick Scott announced that the West Palm Beach metro area gained 14,000 jobs over the year in February 2014. The metro area’s unemployment rate declined by 1.4 percentage points over the year, from 7.8 percent in February 2013 to 6.4 percent in February 2014.

Governor Scott said, “With 14,000 new jobs over the year and the declining unemployment rate, it is clear that our pro-growth policies are working for Florida families in the West Palm Beach area. We must continue to create an opportunity economy where businesses can grow and create jobs for generations to come, so let’s keep working.”

Eight of the ten major industry sectors in this metro area gained jobs over the year in February 2014. The industries with the largest job gains over the year were in professional and business services with 6,700 new jobs and education and health with 2,800 new jobs. Housing starts were up 5.9 percent over the year in the West Palm Beach metro area in January 2014.

In February 2014, the West Palm Beach metro area ranked fifth in the state for online job demand with 19,389 job openings. The metro area also ranked fifth for demand for STEM occupations with 4,210 openings. STEM is an acronym for science, technology, engineering and mathematics, and these jobs are considered high wage and high skill.

In February, CareerSource Palm Beach County, along with the state’s other 23 Regional Workforce Boards, reported more than 37,900 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, 9,620 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 February 2014 was 6.2 percent, the lowest unemployment rate in the state since June 2008. The rate held steady to the revised January 2014 rate of 6.2 percent. Florida’s statewide unemployment rate has been below the national unemployment rate since August 2013, which was 6.7 percent in February 2014. Since December 2010, Florida has created 540,700 private sector jobs.

To view the February 2014 employment data visit www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

 

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