Central Florida’s Unemployment Rate At 3.4% for February 2022, 0.1 Percentage Point Higher than the State

Central Florida’s Unemployment Rate At 3.4% for February 2022, 0.1 Percentage Point Higher than the State

Orlando, Fla.,– The unemployment rate in the CareerSource Central Florida (CSCF) region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 3.4% in February 2022, which was higher than the state’s rate of 3.3%. This rate was 2.8 percentage point lower than the region’s rate of 6.2% during the same timeframe last year. The labor force was 1,403,430, up 83,489 (+6.3%) over the year. There were 47,604 unemployed residents in the region.

Unemployment Rates

Central Florida’s Lowest Unemployment Rates:

• Seminole County had the lowest unemployment rate (2.8%) in the CSCF region followed by Lake County (3.3%), Orange County (3.4%), Osceola County (4.1%), and Sumter County (4.2%).

Job Growth Trends

Orlando-Kissimmee-Sanford MSA:

• Nonagricultural employment was 1,337,600, an increase of 112,700 Jobs
  (+9.2%) over the year.
• Fastest Annual Job Growth*
  • Leisure and Hospitality (+28.4%)
  • Trade, Transportation, and Utilities (+9.0%)
• Second Highest Annual Job Growth*
  • Financial Activities (+6,200 Jobs)
  • Manufacturing (+,1,600 Jobs)
• Third Highest Annual Job Growth*
  • Mining, Logging, and Construction (+1,600 Jobs)
• Highest Annual Job Growth*
  • Leisure and Hospitality (+55,300 Jobs)
  • Trade, Transportation, and Utilities (+21,700 Jobs)
  • Professional and Business Services (+20,400 Jobs)

The Villages MSA:

• Nonagricultural employment in The Villages MSA was 35,200, an increase of 1,600 jobs (+4.6 percent) over the year.

Trends in High Growth Industries (HGIs)

The Following HGIs gained jobs over the year:

• Leisure and Hospitality (+55,300 Jobs)
• Trade, Transportation, and Utilities (+21,700 Jobs)
• Professional and Business Services (+20,400 Jobs)
• Financial Activities (+6,200 Jobs)
• Information (+2,400 Jobs)
• Mining, logging, and Construction (+1,600 Jobs)
• Manufacturing (+1,600 Jobs)
• Education and Health Services (+2,900 Jobs)

Additional Information

 

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*Compared to all Metro Areas in the State

Source: Florida Department of Economic Opportunity, Bureau of Workforce Statistics and Economic Research.