West Palm Beach, Fla. (August 16, 2024) – The unemployment rate in Palm Beach County stood at 3.8% in July 2024, reflecting a 0.5 percentage point increase from the previous year’s rate of 3.3%, according to the latest data released today by CareerSource Palm Beach County and FloridaCommerce (all numbers not seasonally adjusted).
Industry Highlights:
- Nonagricultural employment in the Palm Beach County was 694,000, an increase of 12,800 jobs (+1.9%) over the year.
- The Construction industry grew by 7.8%, Education and Health Services by 3.7%, Government by 3.5%, and Manufacturing by 1.8%, all faster than the statewide rates.
- The industries gaining the most jobs over the year were Education and Health Services (+4,100 jobs), Construction (+3,400 jobs), and Government (+2,100 jobs).
The increase in unemployment can be attributed to several key factors. Seasonal employment fluctuations during the summer months lead to job losses in industries like tourism and agriculture. Additionally, post-pandemic economic adjustments have caused slower growth or restructuring in certain sectors, and the ongoing population growth in Palm Beach County has expanded the labor force, resulting in more job seekers.
Job growth/loss by industry sector: Palm Beach County saw significant job growth in sectors like Education and Health Services (+4,100 jobs) and Construction (+3,400 jobs), while experiencing job losses in Professional and Business Services (-700 jobs) and Information (-100 jobs).
|
Industry
|
Change
|
Total Jobs
|
|
Education/health services
|
+4,000
|
115,700
|
|
Construction
|
+3,400
|
47,200
|
|
Government
|
+2,100
|
62,400
|
|
Leisure and hospitality
|
+2,000
|
92,000
|
|
Trade/transportation/utilities
|
+1,600
|
126,800
|
|
Manufacturing
|
+400
|
22,300
|
|
Information
|
-100
|
11,300
|
|
Financial activities
|
No change
|
49,900
|
|
Professional business services
|
-600
|
135,200
|
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Note to editors: You are invited to interview a CareerSource spokesperson on local employment and economic trends. Please call 561.340.1060 ext. 2489 for scheduling before 3 p.m. today.
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 $12,406,667 (revised annually). Unless otherwise stipulated, all statements, news releases, requests for proposals, bid solicitations and other applicable documents are fully funded from federal sources.