Archive for August, 2016

Manufacturing jobs in Tampa showing little growth

Monday, August 8th, 2016

The number of manufacturing jobs in Tampa has shown little growth, according to recent labor statistics.

The unemployment rate held at 4.9 percent in July, and the number of unemployed persons was essentially unchanged at 7.8 million. Both measures have shown little movement, on net, since August of last year.

In July, the number of persons unemployed less than 5 weeks decreased by 258,000. At 2.0 million, the number of long-term unemployed (those jobless for 27 weeks or more) was about unchanged over the month and accounted for 26.6 percent of the unemployed.

Both the labor force participation rate, at 62.8 percent, and the employment-population ratio, at 59.7 percent, changed little in July. The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 5.9 million in July. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.

Professional and business services added 70,000 jobs in July and has added 550,000 jobs over the past 12 months.

Within the industry, employment rose by 37,000 in professional and technical services in July, led by computer systems design and related services (+8,000) and architectural and engineering services (+7,000). Employment in management and technical consulting services continued to trend up (+6,000). In July, health care employment increased by 43,000, with gains in ambulatory health care services (+19,000), hospitals (+17,000), and nursing and residential care facilities (+7,000).

Over the past 12 months, health care has added 477,000 jobs. Employment in financial activities rose by 18,000 in July and has risen by 162,000 over the year. Employment in leisure and hospitality continued to trend up in July (+45,000).

Employment in food services and drinking places changed little in July (+21,000); this industry has added an average of 18,000 jobs per month thus far this year, compared with an average monthly gain of 30,000 in 2015.