Flagler County’s unemployment rate remained flat, decreasing to 3.2% in July 2022. This is 0.2% lower than June 2022’s 3.4% rate, according to the latest data release from the Florida Department of Economic Opportunity.
“The Chamber is closely monitoring the local employment data because of the national recession,” said Greg Blosé, President & CEO of the Palm Coast-Flagler Regional Chamber of Commerce. “However, the most recent employment report showed encouraging signs of economic stabilization locally, as the number of residents in the unemployment line decreased, and the number of employed residents increased.”
The number of Flagler County residents that are employed (either working in this county or another county) increased from 48,485 workers in June 2022 to 48,770 in July 2022, an increase of 285 residents.
The number of unemployed job-seeking residents in Flagler County declined to 1,627 in July 2022, a decrease of 91 residents from last month’s report.
The Flagler County labor force continues to grow, checking in with 50,397 in July 2022.
Blosé continued, “The Chamber continues to monitor the concerning national economic headwinds, but the latest report shows our local labor force and number of locally employed residents continues to grow. The question for Flagler County’s economy is how much will the national recession impact local businesses? The jury is still out. But July 2022 treated our area well.”
The Bureau of Economic Analysis unveiled its first estimate of second-quarter Gross Domestic Product (GDP) growth – or decline – on July 28, but it won’t release a final estimate until September. National GDP is another indicator of recession.
For more information, contact Greg Blosé, President and CEO of the Palm Coast-Flagler Regional Chamber, at 386-846-1864 or via email at Greg@PalmCoastFlaglerRegionalChamber.com. Learn more about the Chamber by visiting our website, www.PCFChamber.com