The national unemployment rate was 3.5% in March 2023, down 0.1% from February 2023 and last year’s rate of 3.6% in March 2022. Among the unemployed, the number of permanent unemployed increased by 172,000 to 1.6 million in March, and the number of reentrants who previously worked but were not in the labor force before beginning their job search declined by 182,000 to 1.7 million.
On the other hand, total nonfarm payroll employment increased by 236,000 in March, compared with the average monthly gain of 334,000 over the prior six months. Employment showed little change over the month in major industries, including mining, quarrying, and oil and gas extraction; construction; manufacturing; wholesale trade; information; and financial activities.
Trends in the National Job Market
In March 2023, the unemployment rate, at 3.5 percent, and the number of unemployed people, at 5.8 million, showed little change. Statistics show that little net movement has occurred since early 2022. The number of long-term unemployed, those jobless for 27 weeks or more, saw little change at 1.1 million in March. These individuals accounted for 18.9% of all unemployed people. The labor force participation rate, at 62.6%, continued to trend up in the month of March. The employment-population ratio edged up over the month to 60.4%. These measures remain below their pre-pandemic February 2020 levels.
Ten Most Populous States’ Unemployment Rate:
- Florida: 2.6%
- Georgia: 3.1%
- North Carolina: 3.5%
- Ohio: 3.8%
- Texas: 4.0%
- Michigan: 4.1%
- New York: 4.1%
- Pennsylvania: 4.2%
- California: 4.4%
- Illinois: 4.4%
North Central Florida Labor Numbers
Florida’s economy continues to steadily support job growth compared to other states, with February’s unemployment rate remaining at a low of 2.6%. In addition, Florida’s seasonally adjusted total nonagricultural employment was 9,691,600 in March 2023 and showed an increase of 13,600 jobs (+0.1%) over the month. The state gained 413,000 jobs over the year, an increase of 4.5%. Nationally, the number of jobs rose 2.7 percent over the year.
Locally, in Alachua County, the labor force, or the number of individuals employed and seeking employment, in March was 145,827, while employment in the county was 142,047, compared to the February labor force of 144,981 and the employment rate of 141,280. In the same month, Gainesville’s unemployment rate followed the state’s at 2.6%, with the unemployment level at 3,780.
Many job opportunities are available throughout the state, with more than 409,000 jobs posted online! We encourage Floridians searching for work and new job opportunities to turn to the CareerSource North Central Florida network for help. If you want to learn more about available jobs in the North Central Florida area, please email [email protected].