Unemployment rate takes a plunge across region, dropping under 11 percent

(OCALA, Fla.) - The jobless rate in February for Workforce Connection`s Citrus, Levy and Marion counties region was 10.7, dropping 0.6 percent since January and 1.8 percentage points lower than the same time last year.

This is the first time since December 2008 unemployment has been below 11 percent in all three counties when the regional rate as well as Ocala Metropolitan Statistical Area (MSA) was 10 percent. Florida`s not seasonally adjusted unemployment rate in February fell to 9.1 percent, down 0.4 percent over the month. The national unemployment rate fell slightly to 8.7 percent.

In fact, all three counties hit something of an economic trifecta posting increases in the number of employed, decreases in the number of unemployed, and expansion of the labor force, with the exception of a slight dip in Levy`s County`s labor force.

Marion County posted an unemployment rate of 10.8 percent, down from 11.4 percent over the month; Citrus County dropped to 10.6 percent following two consecutive months at 11.3 percent; and Levy County fell from 10.5 to 10.1 percent.

Out of a regional labor force of 204,692 there were 21,808 unemployed, 1,273 fewer than in January. The regional labor force expanded by 1,141 and the number of employed increased by 2,123 to 182,884.

"This is a positive report that shows good job growth and holds potential for the future," said Rusty Skinner, Workforce Connection`s chief executive officer. "This is very good news." We`ll have to see where we are with March and April

Here`s how each county fared:

· Citrus County`s labor force expanded by 126 to 55,270, the number of employed increased by 535 to 49,431 and those unemployed dropped by 409 to 5,839. The unemployment rate in February 2011 was 12.2 percent.

· Levy County`s labor force remained virtually unchanged, shrinking by 39 to 16,753, employment is up for 34 jobs to 15,056 and the number of unemployed decreased by 73 to 1,697. The unemployment a year ago was 11.5 percent.

· Marion County`s labor force is up by 763 to 132,669, the number of employed rose by 1,554 to 118,397 and those without jobs fell by 791 to 14,272. The unemployment rate fell over the year from 12.8 percent.

Rebecca Rust, chief economist Florida Department of Economic Opportunity, noted that even as jobless rates fell, a component of the unemployment rate is that "more people are re-entering the job market."

"When you see employment gain growth and unemployment loss, you can say most people are finding jobs," Rust said.

In February 2012, total nonagricultural employment in the Ocala metropolitan statistical area (MSA) was 91,200, up 700 jobs for an increase of 0.8 percent over the year. Six out of 10 major industries gained jobs, led by education and health services (500 jobs); manufacturing (400); transportation, warehousing and utilities (300); and leisure and hospitality (200).

The Ocala MSA, however, continued to post the second highest unemployment rate among Florida`s 22 MSAs, behind Palm Coast with 12.7 percent and just ahead of Port St. Lucie at 10.7 percent.

Rust noted that "long-term weakness in construction and losses in information, government, and retail trade contributed to the high unemployment rates in these areas."

Among Florida`s 67 counties, Marion County dropped from seventh to eighth, Citrus County fell from ninth to 11th, while Levy County ranks 14th highest.

Workforce Connection is the local, business-led organization that strives to connect qualified workers with local employers in Citrus, Levy and Marion counties through cost-effective, high quality employment, training and education services in partnership with businesses, community-based organizations, educational institutions and governmental agencies. On average, more than 36,000 career seekers and 1,500 businesses receive services each year.

To obtain a full copy of the February 2012 unemployment reports or to find out more about upcoming events and services, visit ww.clmworkforce.com or call 1-800-434-JOBS, ext. 1234.