Local August unemployment numbers looking better than the state’s

PANAMA CITY, Fla. (PRESS RELEASE) - The unemployment rate in the CareerSource Gulf Coast region (Bay, Franklin, and Gulf counties) was 5.1% in August 2020.

This rate is 1.5% higher than the region’s year ago rate of 3.6%. The region’s August unemployment rate was 2.6 percentage points lower than the state rate of 7.7%.

The labor force was 92,346, down 3,776 (-3.9%) over the year. There were 4,737 unemployed residents in the region.

Franklin County had the lowest unemployment rate (4.8%) in the CareerSource Gulf Coast region, followed by Bay County (5.1%) and Gulf County (5.2%).

In August 2020, nonagricultural employment in the Panama City MSA was 78,000, a decrease of 3,700 jobs (-4.5%) over the year.

The industries gaining in jobs over the year were: mining, logging, and construction (+800 jobs) and professional and business services (+400 jobs).

The leisure and hospitality (-2,200 jobs); trade, transportation, and utilities (-1,100 jobs); government; (-700 jobs); manufacturing (-300 jobs); education and health services (-300 jobs); financial activities (-200 jobs); and information (-100 jobs) industries lost jobs over the year.

“Our regional unemployment rate continues to decrease, nearing closer to the rates we had pre-COVID-19”, said CareerSource Gulf Coast Executive Director Kim Bodine. “We have more individuals participating in the labor force and many employers looking to hire, providing ample opportunities for area job seekers.”

Florida’s seasonally adjusted unemployment rate was 7.4% in August 2020, down 4.0 percentage points from the revised July 2020 rate, and up 4.4 percentage points from a year ago. There were 753,000 jobless Floridians out of a labor force of 10,138,000. The U.S. unemployment rate was 8.4% in August.

Extended Benefits

Extended Benefits is a federal program implemented by the state. Extended Benefits authorizes up-to an additional 6 weeks of benefits to eligible individuals who have exhausted Reemployment Assistance benefits during periods of high unemployment.

Floridians who have exhausted their state Reemployment Assistance and their Pandemic Emergency Unemployment Compensation benefits and may be eligible for Extended Benefits will receive the opportunity to apply for Pandemic Unemployment Assistance. Individuals should review the application for Pandemic Unemployment Assistance and apply to determine if they are eligible.