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Palm Coast Tuesday, Jul. 26, 2022 1 week ago

Flagler County unemployment rate rises to 3.4%

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The unemployment rate, while still low, is 0.7% higher than it was in May.
by: Guest Writer

by: Palm Coast Flagler Regional Chamber

Although 99 more locals found jobs last month, Flagler County’s unemployment rate increased to 3.4% in June 2022. This is 0.7% higher than May 2022’s low 2.7% rate, according to the latest data release from the Florida Department of Economic Opportunity.

"When you combine the factors of more residents joining the labor force, more residents in the unemployment line and mediocre job growth, we see a moderate unemployment rate increase.”

— GREG BLOSÉ

“Our sub-3% unemployment rate could not be sustained, as local job creators continue to question the health of our economy," said Greg Blosé, president and CEO of the Palm Coast-Flagler Regional Chamber of Commerce. "Last month, we saw 361 more residents apply for unemployment benefits. Flagler County also saw our labor force continue to grow, now over 50,000 residents strong. When you combine the factors of more residents joining the labor force, more residents in the unemployment line and mediocre job growth, we see a moderate unemployment rate increase.”

The number of Flagler County residents that are employed (either working in this county or another county) increased from 48,354 workers in May 2022 to 48,453 in June 2022, an increase of 99.

The number of unemployed job-seeking residents in Flagler County also grew from 1,364 in May 2022 to 1,725 in June 2022, an increase of 361 residents.

The Flagler County labor force continues to grow and is now over 50,000 residents, with 50,178 recorded in June 2022.

“Although a 3.4% unemployment rate is considered positive overall, the chamber continues to caution the business community on the growing economic headwinds, including a report earlier this month of the consumer price index increasing 9.1%, year-over-year," Blosé said. "In addition to the high cost of gasoline and diesel, the cost of most goods and services continues to rise, including food, painting a concerning future picture of our nation and region’s economic health.”

Learn more about the chamber at PCFChamber.com.

 

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