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FLORIDA’S JOB GROWTH CONTINUES IN SEPTEMBER
Private sector job creation up; over the year unemployment down for 22 consecutive months
TALLAHASSEE— Florida’s unemployment rate declined to 8.7 percent for the month of September and 3,500 new private sector jobs were created. The September 2012 rate was 1.7 percentage points lower than the year-ago rate of 10.4 percent.
Since December 2010, the state’s unemployment rate has dropped 2.4 percentage points and 156,800 private sector jobs have been created. Florida also saw a decrease in the size of government with a decline of 2,700 total jobs over the month.
“In September, we saw continued private sector job growth and an increase in the number of available job openings around the state, which means that more employers are hiring and utilizing the skills and talents of thousands of Floridians,” said Governor Rick Scott. “These numbers today tell us two things – we still have more work to do to grow our economy, and we are heading in the right direction.”
More Jobs Being Created
· Florida has experienced positive annual job growth now for 26 consecutive months.
· Florida’s job growth month-to-month has been positive for 12 of the last 15 months.
· Florida is expected to create more than 900,000 new jobs by 2018, according to a recent Florida Economic Estimating Conference.
· Florida job postings increased sharply in September 2012 compared to the previous September by 35,277 (an increase of 15.1 percent), for a total of 268,575 openings (seasonally adjusted).
· The number of September 2012 job postings was an increase of more than 4,300 over August 2012, according to the Help Wanted OnLine data series from the Conference Board.
· The number of available online job openings in STEM-related fields in Florida is up sharply over the previous year, with more than 64,000 postings in September 2012. Over-the-year job postings are up almost 9 percent compared to September 2011.
Economic Growth Trends Up Across State
· Consumer confidence in Florida “rose in September to a post-recession high of 79 compared to the revised August reading of 76. All five of the components that make up consumer confidence increased,” according to the University of Florida’s Consumer Confidence Index.
· More people are moving into Florida. Net migration is up (more people moving into Florida than moving away) to an estimated 134,500 in 2012 – almost doubling 2011 in-migration of 68,000.
· Florida housing starts were up over the year in August (the most recent month available) by 18.5 percent and median home prices were up 5.8 percent over the year.
· Average home sales prices are up by 6.8 percent in August 2012 over August 2011, according to the Florida Realtors.
· A month’s supply of homes on the market is down by 40 percent from August 2011 to August 2012, indicating a dramatic reduction in Florida’s housing backlog. (Florida Realtors)
· Florida is running a trade surplus of over $24 billion – with $86.8 billion in exports and $62.4 billion in imports in 2011, up from $73.1 billion in exports in 2010 and $53.2 billion in imports in 2010.
· Tourism is up in Florida in 2012 to an estimated 89 million total visitors from 82 million in 2010.
Unemployment Continues to Decline
· Florida’s unemployment rate has now declined over the year for 22 consecutive months.
· Initial claims for Reemployment Assistance benefits were down by 16.8 percent from one year ago while continued claims were down from an average of 553,000 in December 2010 to 300,817 in September 2012, a 45 percent decrease.
Workforce Boards Assisting in Employment
· In September, the state’s 24 Regional Workforce Boards reported a record of more than 52,983 Floridians 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, 15,514 previously received Reemployment Assistance. Since January, more than 287,000 Floridians were placed in jobs, with nearly 69,500 former claimants finding employment.
“Florida’s workforce and reemployment efforts continue to see success across the state, including increases in the number of job placements and online postings as well as decreases in the number of Reemployment Assistance claims,” said Department of Economic Opportunity Executive Director Hunting F. Deutsch. “DEO continues working with our workforce and economic development partners in identifying ways to expand existing businesses and to make our state more attractive to potential employers.”
To view the September 2012 monthly employment data visit:
The Florida Department of Economic Opportunity combines the state’s economic, workforce and community development efforts. This new approach helps expedite economic development projects to fuel job creation in competitive communities. For more information, including valuable resources for employers and job seekers, please visit www.floridajobs.org.