Palm Beach County Unemployment Rate Stays at 3.3 Percent for Third Consecutive Month; 11,500 New Jobs Added Over Year

West Palm Beach, Fla. (Oct. 20, 2023) – Palm Beach County’s unemployment rate for September 2023 announced today is 3.3 percent, the same as for the past two months, and slightly above the year-ago rate of 2.8 percent, according to the latest reports released today by CareerSource Palm Beach County and the Florida Commerce Department (all numbers not seasonally adjusted):

• The county’s rate remains below the 3.6 percent national rate, but above Florida’s 3.0 percent rate. The county’s rate has remained below the nation’s for three years.
• Total nonagricultural employment in the county is 679,600, adding 11,500 jobs over the year – a 1.7 percent gain. For more than two years, there have been more job openings than unemployed people in Palm Beach County.

“Our overall job market remains strong and, on top of that, hiring is picking up for the tourism season,” said Julia Dattolo, President and CEO of CareerSource Palm Beach County, the nonprofit organization chartered by the state to lead workforce development in Palm Beach County. “The only thing scary in the labor market this Halloween is the challenging competition to hire and retain talent.” 

Job growth/loss by industry sector: The education/health services industry sector led the county in over-the-year job growth adding 4,900 jobs for a 4.5 percent jump. The number of jobs in the education/health services, leisure/hospitality, and government sectors grew faster in the county than statewide over the year.

By the numbers, over-the-year job gains and losses by sector are:

Industry                                               Change                         Total jobs

Education/health services                     +4,900 jobs                   113,100

Leisure/hospitality                                +3,000 jobs                   89,000

Trade/transportation/utilities                +2,000 jobs                   123,900

Government                                         +2,000 jobs                   65,300

Financial activities                                 +400 jobs                      49,600

Manufacturing                                      +200 jobs                      21,300

Professional/business services               no change                     134,600

Other services                                       -200 jobs                      30,100

Information                                          -300 jobs                      10,900

Construction                                         -500 jobs                      41,600

Trends Observed This Period

Positive:

• Continued strong job market
• Tourism season ramps up in Palm Beach County

Negative:

• Housing affordability
• Rising insurance costs
• Federal government shutdown threat in Nov.

Paychecks for Patriots Job Fair Coming Nov. 1

CareerSource Palm Beach County is hosting a job fair for veterans and their spouses to connect them with more than 50 local and national employers, and support services. This Paychecks for Patriots event is open to all job seekers as well and will be held at the Hilton Palm Beach Airport, 150 Australian Ave., West Palm Beach, on Wednesday, Nov. 1 from 9 a.m. to 1 p.m.

Employers participating in the job fair include Amazon, FedEx, Coca Cola, Palm Beach County Sheriff’s Office, School District of Palm Beach County, Home Depot, Hilton, Marriott, DSS Inc., Allied Universal, Finfrock, and more. There is no charge to participate, but job seekers should register at this link for express entry instead of having to do so upon arrival:  CLICK HERE

Up to $12,000 Now Available to Eligible Veterans, Spouses for Job Training

In observing Veterans’ Day, CareerSource Palm Beach County is now offering up to $12,000 for occupational training to eligible veterans and military spouses seeking employment through their Careers for Veterans Grant program. The program pays for licenses, degrees, and certification to help veterans and their spouses gain credentials for in-demand jobs specific to Palm Beach County. The program also provides up to $3,000 for support services to cover the cost of books, licensing fees, tools, and even childcare.

Applying for the program is easy – go to the CareerSource website at this link: https://www.careersourcepbc.com/job-seekers/job-seeker-services/careers-for-veterans-grant

A CareerSource Veterans Employment Services staff member will receive the results to determine eligibility and suitability, and contact applicants with the determination and information.

Florida Minimum Wage Increases to $12 Per Hour

Effective Sept. 30, 2023, Florida’s minimum wage rose to $12 per hour with a minimum wage of at least $8.98 per hour for tipped employees (in addition to tips). The new wage is effective through Sept. 29, 2024. The increase stems from a state constitutional amendment, approved by voters in Nov. 2020, that increases the state’s minimum wage by $1 per hour each year until it reaches $15 per hour on Sept. 30, 2026.

Looking for a New Career? Looking to Hire? Here’s Help!

CareerSource offers job fairs, classes, and facilities for job searches, grants for job skills training for those who qualify, career development and consulting. During the past five program years, CareerSource Palm Beach County assisted nearly 33,000 residents find employment/reemployment ranging from entry-level to executive suite. CareerSource also awarded $11.9 million in grants to area businesses and employees for job training and educational assistance during that time. More information is at www.careersourcepbc.com.

CareerSource also provides services to help businesses prosper in today’s challenging marketplace including recruitment, assessments, and referrals of qualified job candidates; space and staff assistance for screening/interviewing candidates; and grants for training employees.

Next employment reports Nov. 17:  State and local employment reports for Oct. 2023 are scheduled for release on Nov. 17, 2023.

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Note to editors: You are invited to interview a CareerSource spokesperson on local employment and economic trends. Please call 561.340.1061 ext. 2229 before 3 p.m. today for scheduling.

Note: The unemployment rate is a measure of how many people in the labor force are out of a job. For example, if total employment holds constant and unemployed Americans stop looking for work, thereby leaving the labor force, the unemployment rate will fall even though no jobs have been added. Conversely, if employment holds steady and recent graduates enter the labor force looking for work, the unemployment rate will rise even though no jobs have disappeared. Palm Beach County’s record low unemployment rate was 2.2 percent in December 2022. Outside of the Great Depression, the county’s record high unemployment rate was 14.7 percent in April 2020.

IN COMPLIANCE WITH THE STEVENS AMENDMENT:

CareerSource Palm Beach County, Inc. is the direct service provider for various workforce programs supported by the U.S. Departments of Labor, Health and Human Services, Education and other agencies as part of awards totaling $14,386,462 (revised annually). Unless otherwise stipulated, all statements, news releases, requests for proposals, bid solicitations and other applicable documents are fully funded from federal sources.