News Details

Unemployment Rate for Gulf Coast Region Remains Low--Much to be Thankful For



Date: 2021/11/22

The unemployment rate in the CareerSource Gulf Coast region (Bay, Franklin, and Gulf Counties) was 3.6 percent in October 2021. This rate was 0.4 percentage point lower than the region's year ago rate of 4.0 percent. The region's October 2021 unemployment rate was 0.4 percentage point lower than the state rate of 4.0 percent. The labor force was 98,281, up 5,342 (+5.7 percent) over the year. There were 3,532 unemployed residents in the region.


Gulf County had the lowest unemployment rate (3.4 percent) in the CareerSource Gulf Coast region followed by Bay County (3.6 percent,) and Franklin County (3.6 percent.)


In October 2021 nonagricultural employment in the Panama City MSA was 81,800, an increase of 2,600 jobs (+3.3 percent) over the year.


The professional and business services (+10.8) percent) and mining, logging, and construction (+5.9 percent) industries grew faster in the metro area than statewide over the year.


The industries gaining in jobs over the year were professional and business services (+1,100 jobs); leisure and hospitality (+700 jobs); trade, transportation, and utilities (+600 jobs); mining, logging, and construction (+400 jobs); and financial activities (+100 jobs.)


The education and health services (-300 jobs) industry lost jobs over the year.


The manufacturing; information; other services; and government industries were unchanged over the year.


"In a season that encourages us to count our blessings, we are very thankful for the economic recovery we are experiencing in our region," said Kim Bodine, Executive Director of CareerSource Gulf Coast. "Our region has outperformed the state and the nation in its low unemployment rate and growth in its labor force. This reflects the readiness of folks in the Bay, Gulf and Franklin County areas for returning to work, along with strong performance in the professional and business sectors which include real estate along with other business services. The Leisure and Hospitality sector also showed strong job growth."