Daytona Beach, FL – Local unemployment falls for the 3rd straight month as Florida creates the most jobs for itself in a single month over the past decade.
The latest Florida Department of Economic Opportunity report shows Volusia with a 5.3% unemployment rate for October 2015. That’s 1/5th of a point under September 2015’s rate and nearly a full point under the 6.2% posted for October 2014.
Flagler’s unemployment rate for last month came in at 5.9%, just under the 6% recorded for September and a full point under the October 2014 rate of 6.9%.
That’s the first time since May 2007 that Flagler’s rate dropped under 6% while Volusia’s rate is the lowest it has been since April 2008.
Volusia’s unemployment rate is tied with Osceola County for 29th highest in the state when measured at the county level. Flagler tied with Marion and Miami-Dade for 14th.
At the metro area level, Deltona-Daytona Beach-Ormond Beach-Palm Coast reported a 5.4% unemployment rate for October 2015. That’s tied for 10th highest in the state alongside Palm Bay-Melbourne-Titusville.
Deltona-Daytona Beach-Ormond Beach-Palm Coast tied for 2nd highest out of all Florida metro areas for over the year growth in manufacturing employment, according to CareerSource Flagler-Volusia.
Jobs in the professional and business services (+7.2%), manufacturing (+3.8%) and government (+2.1%) all grew faster in the local metro area than statewide, per CareerSource F-V.
CareerSource F-V officials also noted that 4,400 jobs were added locally last month and there’s now 15,042 unemployed residents in the region out of a labor force of 281,099.
Florida reported a 5.1% unemployment rate for October 2015, 3/10ths of a point under September’s rate and 7/10ths under last October’s rate.
Florida businesses created 36,600 private-sector jobs in October. That’s the most in a single month in the past 10 years, according to Governor Rick Scott.
“Over 978,800 new jobs have been added in Florida since December 2010,” Scott added. “Our unemployment rate has dropped to the lowest [point] in seven years.”
The Sunshine State also added the 2nd highest number of jobs in the United States at the state level in October, according to the US Bureau of Labor Statistics. Only California had more job growth at 41,200.
The national unemployment rate is 4.8% for last month, a slight increase over the 4.9% for September 2015 and a 7/10ths improvement compared to October 2014.
All numbers are not seasonally adjusted.
Copyright 2015 Southern Stone Communications.