Jacksonville area unemployment rate falls to 3.7% in August

Jacksonville's unemployment rate edged lower in August after reaching a three-year high in July.

The jobless rate in the Jacksonville metropolitan area of Baker, Clay, Duval, Nassau and St. Johns counties fell from 3.8% in July to 3.7% in August, the Florida Department of Commerce reported Sept. 20.

Despite the decrease in unemployment, job growth slowed down in August.

Non-agricultural employers in Northeast Florida grew their payrolls by 13,400 since August 2023 to 804,400 in August 2024, a 1.7% increase.

The annual growth rate was 2.3% in July.

Most major business sectors have been adding jobs but there are a couple of exceptions.

Financial activities employment fell by 2,200 in the 12 months through August, a 2.9% decline.

The second-biggest job loss came in the information sector, which declined by 300, or 2%.

The largest private sector job gains came in private education and health services, which added 3,700, or 3%, and leisure and hospitality, which added 2,700 jobs, or 2.9%.

On a percentage basis, the biggest gains came in wholesale trade which added 1,800 jobs, or 6.1%, and construction, which added 2,600, or 5.1%

Jacksonville's job growth was below Florida's statewide growth rate of 2.1% in the 12 months through August.

Florida's statewide unemployment rate was unchanged in August at a seasonally adjusted 3.3%.

The Department of Commerce does not adjust local area unemployment data for seasonal factors in its monthly reports. Before the seasonal adjustment, Florida had the same jobless rate as the Jacksonville area at 3.7%.

Duval County's unemployment rate fell from 4% in July to 3.8% in August, the highest jobless rate among the five counties in the metro area.

St. Johns County had the lowest unemployment rate at 3.3% in August. Nassau was at 3.4%, Clay was at 3.5% and Baker was 3.6%.