Jacksonville unemployment edges higher in October to 3.5%

Jacksonville's unemployment rate edged higher in October as job growth slowed, the Florida Department of Commerce reported Nov. 15.

The jobless rate in the Jacksonville metropolitan area of Baker, Clay, Duval, Nassau and St. Johns counties rose from 3.4% in September to 3.5% in October.

Non-farm businesses added 9,600 jobs to their payrolls from October 2023 through October 2024, a 1.2% growth rate. That's down from a 2% growth rate in the 12 months through September.

The number of unemployed people in Northeast Florida was basically unchanged last month at 29,342, but the unemployment rate rose because the number of people in the labor force dropped by about 4,500 to 846,802.

The labor force consists of people with jobs or actively looking for work.

Duval County's unemployment rate dropped by 0.1 percentage point to 3.5% in October, but three of the other counties had increases.

Baker County had the largest increase, going from 3.3% in September to 3.6% last month.

Clay County rose by 0.1 point to 3.5% and St. Johns County also rose by 0.1 point to 3.3%.

Nassau County was unchanged at 3.3%.

Florida's statewide unemployment rate was unchanged in October at a seasonally adjusted 3.3%. The Department of Commerce does not adjust local area job data for seasonal factors in its monthly reports.

The report showed the two hurricanes that hit Florida in late September and October had no major impact on the labor market.

What's losing jobs

Data from business payrolls showed a handful of industries in Northeast Florida losing jobs in the past year.

The biggest losses came in the financial activities sector, which dropped by 2,500 jobs since October 2023, a 3.3% decline.

The administrative and support and waste management and remediation services sector declined by 1,700 jobs, or 3%.

The manufacturing and retail trade sectors reported smaller declines, both losing 200 jobs in the past year.

A monthly survey of manufacturers in Northeast Florida by the University of North Florida's Local Economic Indicators Project showed activity declining for seven straight months, but respondents in the latest survey in October indicated a majority expect conditions to improve.

What's gaining

While retail trade jobs fell, wholesale trade produced the biggest percentage gain in jobs in the past year at 6.3%, representing an increase of 1,900.

And while manufacturing jobs fell, the other major goods-producing industry, construction, was another big gainer with 2,400 jobs added, or 4.7%.

The largest number of jobs added in the 12-month period came in the private education and health services sector, which increased by 4,500, or 3.5%.

Jacksonville's job growth lagged behind Florida's statewide growth rate of 1.4% in October.