Overall unemployment rate moved down to 3.6% with the biggest shift in Restaurants & Hotels, which lost 1,000 roles, based on the most recently available information published in November 2021.
Total employment in the Panama City, FL market rose by 9 jobs in September and the unemployment rate decreased compared to the prior month by 50 bps to 3.6%. The national unemployment rate decreased by 72 bps over the same time to 4.6%.
- Panama City, FL unemployment rate is 96 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in September versus prior month by -1.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.1%. Key sectors include:
- Transportation & Utilities: 16,200; +200
- Government: 13,300; +400
- Restaurants & Hotels: 12,800; -1,000
- Business Services: 11,200; +500
- Education & Healthcare: 9,400; -100
- Construction, Mining: 7,300; no change
- Financial Services: 4,900; no change
- Manufacturing: 3,200; no change
- Other Jobs: 2,600; -100
- IT & Development: 600; no change
Data is based on the most recent 12 months available, through September 2021 (Data published November 2021 and reports created on November 3, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.