Link in to Lincoln: June Update on the South

Throughout the Southeast, unemployment rates continue to drop amid a robust economy and strong job creation. U.S. employers report strong hiring intentions for the third consecutive quarter as the national labor market edges closer to full capacity.

The number of employees on non-farm payrolls in several cities throughout the Southeast continues to rise. Orlando has experienced significant growth, with employees in non-farm payroll jobs climbing from 1.29 million in May 2018 to 1.33 million in May 2019, a 3.1% increase. In Atlanta and Miami over the same time period, employees in non-farm payroll jobs grew by 1.9 and 2.0%, respectively.

ManpowerGroup’s recent survey indicated 27% of companies in the U.S., as well as 26% of companies in the South, are planning to increase their staff levels in the third quarter. The national employment outlook stands at +21%, the strongest reported in 13 years. According to Manpower Group, hiring intentions are 2 percentage points stronger when compared with the previous quarter, and improve by 3 percentage points compared to this time last year.

Unemployment continues to fall in the Southeast. Florida’s unemployment fell from 3.8% in May 2018 to 3.4% in May 2019. Georgia is experiencing similar traction, with unemployment falling from 4.0% to 3.8% in the same time frame, with strong job growth in both states.