Flagler County’s unemployment rate of 3.8 percent in May is a re[peat of the post-recession low struck last October, but it’s the first time since before the recession that the county has managed to keep its unemployment rate below 4 percent for two successive months. A rate below 4 percent is generally considered to be full employment.
The last time the county’s rate was that low before the recession was in November 2006, when it was at 3.7 percent and rising very fast toward double-digits. Flagler’s unemployment rate before the recession had bottomed out near 3 percent, as had Florida’s. Florida’s unemployment rate in May was the same as Flagler’s.
Flagler’s workforce is also continuing its growth. The labor force hit a new high of 47,204, up 600 compared to a year ago. Of those, 45,423 residents are holding jobs either in the county or out of the county. The figure reflects full and part-time jobs. It takes a worker logging just one hour of work in the period of the labor report to register as an employed person. There were 1,781 unemployed persons in the county in May, up about 40 from the previous month but down 335 from a year ago.
The unemployment report’s strength parallels the soundness of recent housing and permitting reports and a report from the property appraiser showing Flagler’s property values appreciating at their best clip since 2007 (7.5 percent).
Florida added 15,100 jobs in May, but 19,000 private-sector jobs. The difference is in government jobs, a sector that lost 3,900 jobs over the month, a third of them in local governments. As always, Gov. Scott in his unemployment-report statement did not take public-sector jobs into account, focusing exclusively on private-sector jobs even though 1.1 million Floridians, or 13 percent of the labor force, work in the public sector. That includes teachers, cops, firefighters, school bus drivers, public works employees, and so on.
“Every month, private-sector businesses are adding jobs, dropping our unemployment, making it easier for every Floridian to find great work,” he said in the statement. In the past year, 124,000 people entered Florida’s labor force, a growth of 1.2 percent, which is greater than the national labor force growth rate of 1.1 percent.
Most job sectors showed modest increases in their ranks, with the largest proportional increase in education services, at 0.7 percent (1,200 jobs), and the largest net increase in leisure and hospitality as the tourism season ramps up. Hotels and food services added 4,000 jobs in May, arts and entertainment added 800.
Hendry County continues to top the list as the county with the largest unemployment rate, at 5 percent. Putnam is not far off at 4.5 percent. St. Johns and Okaloosa have the lowest rate, at 2.6 percent, followed by Monroe with 2.7 percent. The Orlando-Kissimmee-Sanford metropolitan area has been the state’s most brisk job-producer since last year, creating 44,000 jobs over the past 12 months, a year-over-year increase of 3.5 percent. Jacksonville is at 3.2 percent. The Deltona-Daytona Beach-Ormond Beach zone is at 1.4 percent, with 2,900 new jobs over the year.
The full unemployment report is below.
Florida May 2018 Unemployment Report
Thank you President Obama.
Looks at the source of jobs in Florida. For example, one recent headline was:
No. 1 in tourism and dead last in wages (article was referring to Orlando).
There is a connection here. If our legislators pass laws to promote tourism at the expense of residents (such as allowing short-term rentals everywhere), there will be growth in low-paying tourism jobs, but companies won’t consider Florida because there won’t be a stable workforce – only people coming to visit for a short time in residential neighborhoods, thus driving full time people out who want to live in a community.
We need to consider the quality as well as the quantity of jobs.
1970s wages, 85% of wealth controlled by 10%or less of population, debt to equity ratio imbalanced on the majority of families, too much consumer debt and a Natl deficit 21Trillion + created by Ponzi quantitative easing along side artificially mandated low rates by Fed to benefit Money center banks. Oh boy add Student loans and falling tax revenues and what we have is a mess ignore the man behind the curtain nothing to see here folks
So we they tell us this is a result of President Barry The Huckster?
Yes, thanks to Obama’s policies. The trumpster has nothing to do with it.
Thank you President Trump!
Stanley Hardy says
To quote Larry the Cable Guy… “That’s some funny s*!t right there.”
@trumpholes never learn
Harley-Davidson workers stunned by plant closure after tax cut
The iconic company announced that it was slashing hundreds of jobs despite expecting to reap huge benefits from the new tax law.
by Gabe Gutierrez and Annie Rose Ramos
“Tim Primeaux has worked at the Harley-Davidson plant in Kansas City, Missouri, for 17 years. He was sure he was going to retire from the company.
That all changed when Harley-Davidson told its 800 employees in January that the plant will be closing next year. Operations will be shifted to the motorcycle manufacturer’s facility in York, Pennsylvania.
“We did everything Harley-Davidson asked us to do,” said Primeaux, a welder. “To have it all blow up in your face is kind of disappointing.”
Days later, Harley-Davidson announced a dividend increase and a stock buyback plan to reward shareholders, repurchasing 15 million of its shares, valued at nearly $700 million.
Like other corporations, Harley-Davidson is benefiting this year from the tax cut law passed in 2017, which slashed the corporate rate from 35 percent to 21 percent. The company maintains that the dividend increase and stock buyback is unrelated to the tax savings…”
Thanks trump (and HIS spineless corrupt Republican party) – for nothing.
Most of the real growth in this country is spurred by small businesses. Those businesses were just never comfortable in the prior administration. Attitudes have changed. Also, the biggie is that the tax cut has now kicked in. You can try to say the sky is falling but it just sounds silly. As I predicted last month from the Atlanta fed 4.8 GDP growth prediction, this summer will be a feast for area businesses.
I think nogo is still upset Hillary Lost, don’t worry come 2024 it will be over. But you go on and call people “trumpholes”, shows how tolerant you really are.
Fake News Channel, I mean, Fox News channel would have you trump fans believe it’s because he is doing such a great job, but deep down inside you know it, I know it that is a bunch of bologna. Again, thank you president Obama!
Thank you Real President Obama!
The economy didn’t turn around for the better until after the tax cuts. So, how did Obama have anything to do with the lower unemployment?
Hey Pogo, Trump has nothing to do with HD problems. young people aren’t very interested in buying a Harley-Davidson (HD) these days. Not to mention the 2013, 2014 Quality issues. In 2013, Harley recalled more than 25,000 bikes, and in 2015, it recalled an additional 46,000 bikes for model years 2014 and 2015 of its Electra Glide, Street Glide, Ultra Limited, Road Glide, and Road King motorcycles. I know my RoadKing was recalled. Recurring problems plagues Harley. And in 2018 HD is recalling for model years 2008 to 2011 Touring, CVO Touring and VRSC models which have anti-lock braking systems. About 175,000 of the 250,000 bikes covered by the recall are in the United States. HD needs to fix their quality control issues,
Maybe Trump can take a lesson from BArry Obama and bail them out like GM. That would help HD unemployment, but has NO bearing on Flagler County or the unemployment numbers since we in this county we have NO HD dealer, its Rossmyers in Ormand or Adanex in St Augustine,.
!8 mos prior to trump: 3.9 million new jobs. 18 mos since trump: 3.4 million jobs. Since you don’t understand which number is greater – I’ll stop there.
The things that aren’t true that trumpholes know would fill a book, e.g., “Hey Pogo, Trump has nothing to do with HD problems…”
CEO: Trump’s TPP is the reason Harley is headed to Thailand
“Harley-Davidson Inc. CEO Matt Levatich said if President Donald Trump hadn’t removed the U.S. from the Trans-Pacific Partnership (TPP), he wouldn’t have to build a plant in Thailand…”
Don’t look now trumpholes – here it comes: https://www.youtube.com/watch?v=uYCV1MLU5Us
Chinese investment in the US drops 90% amid political pressure
Chinese acquisitions and investments in the U.S. fell 92 percent to just $1.8 billion in the first five months of this year, consulting and research firm Rhodium Group says.
Counting divestitures, net Chinese deal flow to the U.S. during that time was a negative $7.8 billion, the report says.
Beijing is trying to limit capital outflows and excessive leverage, while the Trump administration is increasing scrutiny of Chinese investments in the U.S. amid concerns about intellectual property protection.
trump and his family will be well, dry, and nowhere to be found after you drown.