Central Florida’s Unemployment Rate At 2.9% for February 2020, 0.1 Percentage Point Higher than the State

Central Florida’s Unemployment Rate At 2.9% for February 2020, 0.1 Percentage Point Higher than the State

Orlando, Fla., April 1, 2020 – The unemployment rate in the CareerSource Central Florida (CSCF) region (Lake, Orange, Osceola, Seminole, and Sumter counties) was 2.9% in February 2020, which was higher than the state’s rate of 2.8%. This rate was 0.3 percentage point lower than the region’s rate of 3.2% during the same timeframe last year. The labor force was 1,414,579 up 37,808 (+2.7) over the year. There were 40,946 unemployed residents in the region.

Unemployment Rates

Central Florida’s Lowest Unemployment Rates:

• Orange County and Seminole County had the lowest unemployment rate (2.8%) in the CSCF region followed by Lake County (3.1%), Osceola County (3.1%), and Sumter County (4.6%).

Job Growth Trends

Orlando-Kissimmee-Sanford MSA:

• Nonagricultural was 1,351,100, an increase of 31,100 Jobs (+2.4%) Over the Year.
• Highest Annual Job Growth*
• • Education and Health Services (+8,100 Jobs)
  • Leisure and Hospitality (+6,800 Jobs)
  • Mining, Logging, and Construction (+5,300 Jobs)
  • Financial Activities (+3,400 Jobs)
  • Professional and Business Services (+3,100 Jobs)
  • Manufacturing (+1,400 Jobs)
  • Government (+1,200 Jobs)
  • Trade, Transportation, and Utilities (+1,100 Jobs)
  • Other Services (+500 Jobs)
  • Information (+200 Jobs)

• Second Fastest Annual Job Growth Rate*
  • Education and Health Services (+5.1%)
  • Information (+0.8%)

The Villages MSA:

• Nonagricultural Employment was 32,700, an increase of 800 Jobs (+2.5%) Over the Year.

Trends in High Growth Industries (HGIs):

• The Following HGIs Grew Faster in the CSCF Region than Statewide Over the Year:
  • Mining, Logging, and Construction (+6.2%)
  • Education and Health Services (+5.1%)
  • Financial Activities (+4.4%)
  • Manufacturing (+2.9%)
  • Leisure and Hospitality (+2.5%)
  • Other Services (+1.1%)
  • Information (+0.8%)

Additional Information