Orlando Job Market Not Growing

According to Metrostudy's second quarter report, the same number of Orlando jobs existed in June of this year as in June of 2007. This means that the area has experienced no notable growth in employment so far in 2008. The suffering housing market is believed to be at least partially to blame.

The number of new single-family home construction projects in the area has declined by 46.3 percent since the second quarter of 2007. During this time last year there were 3,166 homes in the process of being built. At this time there are only 1,701 such structures. The state is also No.2 in the nation for foreclosures.

The condition of the housing market effects more than just real estate agents and new home buyers. A lack of new dwellings being built means a significant decrease in the number of construction jobs in the area. So far, Florida has lost a total of 82,000 jobs in this industry, according to the U.S. Bureau of Labor Statistics. This has caused the state to be ranked as number one in the country for jobs lost.

This 13.5 percent decline means that the state has lost more jobs in construction than any other industry. Overall, Florida has lost 106,100 jobs since June of last year, which is a decrease of 1.3 percent.

Despite posting no real job growth, Orlando's unemployment rate remains comparably low at 5.3 percent. The state's jobless rate is 5.7 percent while the national average is 5.5 percent. Although the area may be fairing better than the rest of Florida, no real job growth means Orlando can't afford to lose many more positions.

This fact makes it more difficult to hear that Elsevier Inc. recently announced that it will be doing away with 77 jobs in Orlando, according to a notice filed with the Florida Agency for Workforce Innovation. The company, which is a publisher of science and health textbooks, plans to shut down its customer-service department near SeaWorld. The responsibilities from this office will be designated to the companies other locations. Elsevier will eliminate these positions in four phases, which begin in on September 30th and end on June 30th of 2009.