Good News For Central Florida Real Estate: Unemployment Rate On the Decline

JobUnemployment rates are on the decline, according to a recent report from the Orlando Business Journal.

And while this will obviously have a terrific impact on the local jobs market, it is also expected to be a good thing for the local real estate market as well.

After all, the stronger a local jobs market is, the more attractive it is to potential home buyers. Who wouldn’t want to live in a community with a robust local economy?

Let’s Take a Closer Look at This Recent Report

According to the Orlando Business Journal, the unemployment rate in Central Florida (which includes Lake, Orange, Osceola, Seminole and Sumter counties) was 5.6 percent in September.

That’s down 1 percentage point from a year ago and 0.5 percent lower than the state’s rate of 6.1.

In raw numbers, of the 1,263,419 people in the labor force, there were 71,247 people in the region.

Here are some more highlights from the recent CareerSource Central Florida report that the newspaper reported on:

  • The unemployment rates county-by-county were 6.2 percent in Lake County, 5.6 percent in Orange County, 6.3 percent in Osceola County, 5.1 percent in Seminole County, and 5 percent in Sumter.
  • Nonagricultural employment in the Orlando-Kissimmee-Sanford metro area was 1,108,600 in September, up 3.7 percent from a year ago.
  • Statewide, employment was up 2.8 percent from September 2013 to September 2014.
  • The metro area gained 39,900 jobs over the year, with leisure and hospitality gaining the most at 13,300 more jobs, followed by professional and business services (11,300 more jobs); trade, transportation and utilities (7,200 more jobs); mining, logging and construction (4,500 more jobs); education and health services (2,200 more jobs); manufacturing (1,400 more jobs); other services (800 more jobs); information (500 more jobs); and government (100 more jobs).
  • Financial activities was the only industry that lost jobs over the year. It lost 1,400 jobs.
  • In September 2014, the Orlando-Kissimmee-Sanford metro area led all metro areas in the state in over-the-year increases in total nonagricultural jobs.
  • The metro area also led Florida in over-the-year gains in leisure and hospitality; professional and business services; mining, logging and construction; and information.

Relocate to Central Florida Today!

A growing jobs market is just one of the reasons why Central Florida is such a wonderful place to live. Central Florida also offers an excellent school system, beautiful neighborhoods and fabulous on-going community activities.

If this sounds like the kind of place you’d like to call home year-round, please don’t hesitate to contact me, Debbie Summers, your Central Florida real estate expert.

I’d be more than happy to assist you by providing you with valuable home buying resources and telling you about available listings in such communities as Lake Mary.

Until next time,

Debbie

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