Orlando, U.S. Job Market Strengthens
Last week, the U.S. government reported there were a 223,000 new jobs created for the month of may - dropping the country's unemployment rate to 3.8%. That is the lowest rate since April 1, 2000, according to government data released June 1.
Today, the economic news got even more impressive with the Bureau of Labor Statistics reporting for the second straight month there were more job openings in American than workers available. The latest numbers show America has 6.7 million job openings but only 6.4 million workers are available.
In Greater Orlando, the job market is even tighter with unemployment averaging 3.25 percent in Metro Orlando's surrounding Lake, Orange, Seminole and Osceola counties. The workforce is so tight, Orlando's largest employer, Walt Disney Company, is advertising for new hires in the local Orlando Sentinel newspaper and offering signing bonuses. And these are fior hourly wage employees working at Disney World.
Meanwhile, much like the rest of the country, home builders continue to face a dearth of skilled laborers as Orlando's housing market continues to show robust growth in popular areas such as Clermont, Minneola and Winter Garden.