More residents enter labor force, unemployment lines
Although 99 more locals found jobs last month,Flagler County’s unemployment rate increased to 3.4% in June 2022. This is 0.7% higher than May 2022’s low 2.7% rate, according to the latest data release from the Florida Department of Economic Opportunity.
“Our sub-3% unemployment rate could not be sustained, as local job creators continue to question the health of our economy. Last month we saw 361 more residents apply for unemployment benefits. Flagler County also saw our labor force continue to grow, now over 50,000 residents strong” said Greg Blosé, President & CEO of the Palm Coast-Flagler Regional Chamber of Commerce. “When you combine the factors of more residents joining the labor force, more residents in the unemployment line and mediocre job growth, we see a moderate unemployment rate increase.”
The number of Flagler County residents that are employed (either working in this county or another county) increased from 48,354 workers in May 2022 to 48,453 in June 2022, an increase of 99.
The number of unemployed job-seeking residents in Flagler County also grew from 1,364 in May 2022 to 1,725 in June 2022, an increase of 361 residents.
The Flagler County labor force continues to grow and is now over 50,000 residents, checking in with 50,178 in June 2022.
Blosé continued, “Although a 3.4% unemployment rate is considered positive overall, the Chamber continues to caution the business community on the growing economic headwinds, including a report earlier this month of the consumer price index increasing 9.1%, year-over-year. In addition to the high cost of gasoline and diesel, the cost of most goods and services continues to rise, including food, painting a concerning future picture of our nation and region’s economic health.”
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