Overall unemployment rate moved down to 2.6% with the biggest shift in Restaurants & Hotels, which gained 300 roles, based on the most recently available information published in August 2022.
Total employment in the Panama City, FL market rose by 801 jobs in July and the unemployment rate decreased compared to the prior month by 10 bps to 2.6%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Panama City, FL unemployment rate is 118 bps below the national rate which is a positive sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in July versus prior month by -2.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.1% . Key sectors include:
- Transportation & Utilities: 17,000; +200
- Restaurants & Hotels: 15,900; +300
- Government: 12,500; -100
- Education & Healthcare: 10,400; +100
- Business Services: 10,000; +100
- Construction, Mining: 7,600; +200
- Financial Services: 5,700; +100
- Manufacturing: 3,600; no change
- Other Jobs: 2,900; no change
- IT & Development: 800; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.