Orlando Unemployment Rate down to 6%

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The Orlando metro area’s unemployment rate dropped from 7.2% in March 2013 to 6.0% in March 2014. Florida’s statewide unemployment rate is hovering at 6.3% Orlando is one of the cities leading Florida in job creation and Florida has been in the top 5 job creation states in the US over the last few years. Governor Rick Scott has reported that the State of Florida has created 563,900 jobs since December 2010 (the cyclical bottom).

What’s interesting is the labor participation rate is very high in Florida and Orlando’s EMPLOYMENT has hit an all time high. People dropping out of the labor market (people who quit looking for jobs) is a contributing factor to lower unemployment in many states and in the national number. Florida is experiencing a renaissance in real job creation.

Many of these jobs are service sector related but not all. In fact in the Orlando metro area and Central FL in general some of the firms hiring include:

  • Amazon.com (2 new distribution centers and 1 pack and sort facility)
  • Lockheed Martin
  • Zynga (gaming co)
  • SpaceX
  • and more!

 

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