Overall unemployment rate moved up to 2.7% with the biggest shift in Restaurants & Hotels, which gained 1,200 roles, based on the most recently available information published in May 2023.
Total employment in the North Port-Sarasota-Bradenton, FL market rose by 3,686 jobs in March and the unemployment rate increased compared to the prior month by 10 bps to 2.7%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- North Port-Sarasota-Bradenton, FL unemployment rate is 92 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 5.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Transportation & Utilities: 64,600; +200
- Education & Healthcare: 61,100; -400
- Restaurants & Hotels: 52,300; +1,200
- Business Services: 46,100; -400
- Construction, Mining: 30,100; +200
- Government: 26,500; +100
- Manufacturing: 19,100; +200
- Financial Services: 18,000; no change
- Other Jobs: 15,000; no change
- IT & Development: 4,200; no change
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.