Metropolitan Area Job Report for October shows more gains in Tampa than in 2020

TAMPA, Fla. (WFLA) – The latest national job report shows 210,000 jobs were added in November, less than half of the jobs opened in October. In Florida, the October metropolitan area report showed the number of jobs increased year over year when uncertainty about COVID-19 was high, which affected the country’s economic outlook.

Nevertheless, the unemployment rate in the United States fell from 4.8% in the previous month to 4.2%.

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Although deals are still ongoing and recent job growth has been below expectations, Tampa Bay still saw employment growth faster than the state and country in October.

The November job report said the number of unemployed fell to 6.9 million, a change from 542,000. Compared to before the February 2020 pandemic, the number of unemployed Americans is higher than it was before the COVID.

“The unemployment rate fell by 0.4 percentage points to 4.2% in November. The number of unemployed fell by 542,000 to 6.9 million. Both measures are well below their highs at the end of the recession from February to April 2020, ”said the US Bureau of Labor Statistics. “However, they remain above their pre-coronavirus pandemic (COVID-19) levels (3.5% and 5.7% in February 2020).”

According to the BLS data, 3.6 million workers said they were unable to work in November because their bosses lost business or closed their operations due to the pandemic.

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These individuals either did not work at all or lost hours in the four weeks the report covers. However, around 16% of workers who had lost work or working time received at least part of the compensation from their employers for the hours they could not work.

Although the workforce has increased by 18.5 million since April 2020, the national non-farm employment rate is still 2.6% lower than it was before the COVID-19 pandemic.

The greater Tampa area had more than 1.6 million civilian jobs as of October 2021. That was around 114,000 more than in the previous month. The Tampa Area unemployment rate was 3.8%. There were over 200,000 civilian workers on the Sebring subway compared to 386,977 in the Sarasota area. There were just over 49,000 on the Homosassa Springs metro.

Tampa Bay’s metropolitan statistical areas saw employment growth month-to-month and year-to-year even during the ongoing pandemic, with the exception of Metro Lakeland-Winter Haven, which saw a slight decline from September to October. This pattern was different than the year before, when jobs declined faster from September to October 2020.

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In the Lakeland Metro, only about 80 members left the civilian workforce. More than 3,000 did it in 2020.

The next BLS Employment Report will be published on January 7, 2022 and will deal with the unemployment figures and employment growth in December. The next large-scale report on the creation and reduction of jobs in the individual markets will come in January.

The post Metropolitan Area Job Report for October shows more gains in Tampa than in 2020 first appeared on Daily Florida Press.

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