Gulf Coast Workforce Region Unemployment Numbers below State, National Rates

The unemployment rate in the Gulf Coast Workforce Region (Bay, Franklin, and Gulf counties) was 5.6 percent in September 2008, 2.0 percentage points higher than the region's year ago rate but 1.2

percentage points lower than the state rate of 6.8 percent and .5 percent

lower than the national average at 6.1 percent.  Out of a labor force of

99,312, there were 5,516 unemployed Gulf Coast residents.

"Our area is holding steady.  We're below both the national and state

unemployment rates; however, there have been some small layoffs locally

and we believe that we may see more," said Kim Bodine, Executive Director

for the Gulf Coast Workforce Board.  "We're hearing from local employers

that the business is out there but there just isn't the financing to

support it."

The last time the region's September unemployment rate was this high was

in 1999 when it was 5.9 percent. The September 2008 unemployment rates in

the counties that comprise the Gulf Coast Workforce Region were:

  • 5.9 percent in Gulf County,   •

  • 5.6 percent in Bay County, and   •

  • 4.5 percent in Franklin County.  •

 In September 2008, there were 75,300 nonagricultural jobs in the Panama

City-Lynn Haven metro area (Bay County), down 1,900 jobs over the year.

The annual job growth rate in the area (-2.5 percent) has been negative

since March 2008.  Statewide, employment declined 1.5 percent over the

same time period.

The industry losing the most jobs over the year in the Panama City-Lynn

Haven metro area was natural resources, mining, and construction (-800

jobs).  Leisure and hospitality (-700 jobs) also declined over the year,

along with financial activities and professional and business services

(-300 jobs each); manufacturing (-200 jobs); trade, transportation, and

utilities; and other services (both -100 jobs).  The losses were partially

offset by gains in education and health services (+300 jobs) and

government (+300 jobs). Education and health services (+3.8 percent) and

government (+2.1 percent) grew faster in the metro area than in the state.