For the first time in eight years, Gainesville’s unemployment rate has dropped under four percent. Of the twenty-four metro areas in the state, Gainesville ranks second for lowest unemployment rate. With decreasing rates each month, Gainesville is seeing its jobless rate gradually drop, being 3.9 percent in April, compared to the Florida average of 4.8 percent and the national average of 5 percent.
Complementary with one another, when unemployment rate decreases, the amount of jobs created increases. Within Gainesville, education and health services have had the greatest impact on the market, providing 1200 local jobs, followed by the hospitality and governmental sectors with an average growth of 1.4 percent. While these sectors provided the most jobs, the manufacturing sector was the fastest growing sector at a rate of seven percent.
Written by Front Street Intern Joshua Odessky.