In recent years, health care and government have been significant drivers of job growth, with both sectors adding 51,300 and 40,000 jobs, respectively. However, the leisure and hospitality industry experienced a loss of 4,000 jobs, which was anticipated due to Florida's tourism-centric economy feeling the impacts of recent hurricanes.
The construction industry also showed signs of weakness following the storm activity. While there was a net gain of 8,000 jobs in this sector, it fell short of the average of 20,000 jobs seen earlier in the year.
Notable job losses were observed in temporary help services (-48,500), professional and business services (-47,000), and manufacturing (-46,000). The decline in manufacturing jobs was attributed to strike activity, according to the Bureau of Labor Statistics (BLS).
The percentage of the working-age population either employed or actively seeking employment dipped slightly from 62.7% to 62.6% in October. This rate has remained relatively stable between 62.5% and 62.7% throughout the year.
Additionally, the employment-to-population ratio also saw a decrease, dropping from 60.2% to 60% based on BLS data.
