Jacksonville’s labor market was in good shape before the impact of the coronavirus on the U.S. economy, according to data released March 16 by the Florida Department of Economic Opportunity.
The unemployment rate in the Jacksonville metropolitan area (Duval, Baker, Clay, Nassau and St. Johns County) remained low at 3.1% in January, the agency said.
The rate rose from a record low 2.6% in December, but the jobless rate normally jumps higher in January as businesses lay off seasonal workers. The Department of Economic Opportunity does not adjust local market data for seasonal factors.
However, the University of North Florida’s Local Economic Indicators Project said when seasonally adjusted, Jacksonville’s unemployment rate actually fell from 2.87% in December to 2.79% in January.
“The January numbers look pretty good,” said UNF economist Albert Loh.
“The impact of global spread of COVID-19 had not reached us in January. The numbers for the next month or two should start to reflect the negative impact on the global supply chain and business in general,” he said.
Duval County’s unemployment rate rose from 2.7% in December to 3.2% in January without adjustment, the Department of Economic Opportunity said.
Florida’s statewide seasonally adjusted unemployment rate fell by 0.1 point in January to 2.8%
The agency normally releases unemployment data every month but the January report is always delayed until March as state officials update data from the previous year.
Jacksonville’s job growth was strong, with non-farm businesses increasing their payrolls by 21,200 from January 2019 to January 2020, a 3% growth rate.
The biggest gains came in professional, scientific and technical services which added 4,600 jobs, a 10% growth rate.
The wholesale trade sector also registered strong growth with 2,200 new jobs, or 8.2%
Most sectors gained jobs in the 12-month period but there were a couple of exceptions. Retail trade jobs dropped by 2,600, or 3.1%, and telecommunications lost 200 jobs, or 6.5%