Jacksonville's already low unemployment rate fell even more in May, as high school and college graduates entering the labor force seemed to be able to find jobs.
The unemployment rate in the Jacksonville metropolitan area (Duval, Baker, Clay, Nassau and St. Johns counties) fell from 3.2 percent in April to 3.1 percent, the Florida Department of Economic Opportunity said Friday.
The state agency does not adjust the data for seasonal factors, such as the typical spring increase in people looking for work as students search for permanent or summer jobs.
However, even when the data is seasonally adjusted, the Jacksonville area jobless rate fell from 3.24 percent in April to 3.12 percent last month, according to the University of North Florida's Local Economic Indicators Project.
The Department of Economic Opportunity said Duval County's unemployment rate was unchanged, without seasonal adjustment, at 3.3 percent in May. But after adjusting for seasonal factors, the rate dropped sharply from 3.44 percent in April to 2.97 percent last month, LEIP said.
“The data seem to suggest that job seekers can find work relatively quickly and that growth in jobs is seen in more than just a selected few non-agricultural sectors, which points to a solid economy,” UNF economist Albert Loh said.
The Department of Economic Opportunity's monthly survey of non-agricultural businesses showed strong job growth in the Jacksonville area, with a net gain of 22,400 jobs from May 2017 through May 2018, a 3.2 percent growth rate.
The biggest gains came in the construction sector, which increased jobs by 8.1 percent in the 12-month period.
Other strong gains came in professional and business services, up 5.4 percent, and leisure and hospitality, up 4.6 percent.
The only major private-sector industry losing jobs was the information sector, down 1.1 percent.
Jacksonville's job growth beat Florida's statewide growth rate of 2.1 percent in the 12 months through May.
The Jacksonville area unemployment rate also was better than the statewide rate. Florida's seasonally adjusted jobless rate fell by 0.1 percentage point to 3.8 percent last month, the Department of Economic Opportunity said.
“The local labor market performance in Jacksonville has been outstanding so far in 2018,” Loh said.
St. Johns County’s unemployment rate fell by 0.1 point to 2.6 percent in May, without seasonal adjustment, tying it with Okaloosa County for the state’s lowest jobless rate.
Baker County also dropped below 3 percent, falling by 0.1 point to 2.9 percent.
Clay County fell by 0.1 point to 3 percent, and Nassau County was unchanged at 3 percent.