Orlando, FL, Area Economic Summary

[Pages:2]Orlando, FL, Area Economic Summary

Updated January 04, 2024

This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see regions/economic-summaries.htm.

Unemployment rates for the nation and selected areas

Unemployment rates

Average weekly wages for all industries by county

Orlando area, second quarter 2023 (U.S. = $1,332; Area = $1,156)

United States

3.4

3.5

Orlando area

2.6 3.0

Lake Co.

2.7 3.3

Orange Co.

2.5 2.9

Osceola Co.

3.0 3.5

Seminole Co.

2.4 2.9

0.0

2.0

4.0

Nov-22 Nov-23 Source: U.S. BLS, Local Area Unemployment Statistics.

Source: U.S. BLS, Quarterly Census of Employment and Wages.

Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector

12-month percent changes in employment 20.0

15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0 Nov-20

Nov-21

Nov-22

Nov-23

Orlando area

United States

Source: U.S. BLS, Current Employment Statistics.

Orlando area employment (number in thousands)

Change from Nov. Nov. 2023 2022 to Nov. 2023

Number Percent

Total nonfarm

1,462.9

27.0

1.9

Mining and logging

0.2

0.0

0.0

Cons tructi on

86.4

0.9

1.1

Ma nufa cturi ng

54.2

1.2

2.3

Trade, transportation, and utilities

276.3

7.0

2.6

I nforma ti on

27.1

-0.5

-1.8

Financial activities

91.6

0.7

0.8

Professional and business services

274.7

-3.1

-1.1

Education and health services

191.1

10.6

5.9

Leisure and hospitality

288.4

9.1

3.3

Other services

43.9

0.7

1.6

Government

129.0

0.4

0.3

Source: U.S. BLS, Current Employment Statistics.

Over-the-year change in the prices paid by urban consumers for selected categories

12-month percent change in CPI-U, November 2023

4.0

3.4 3.1

3.0

3.2 2.9

2.0

1.0

0.0

-1.0

-2.0

-3.0

-4.0

-5.0

-6.0 -7.0

-5.6 -5.4

All items

Food

Energy

South region

U.S. city average

Source: U.S. BLS, Consumer Price Index.

Over-the-year changes in the selling prices received by producers for selected industries nationwide

12-month percent changes in PPI

35.0 30.0 25.0 20.0 15.0 10.0

5.0 0.0 -5.0 -10.0 -15.0

Nov-20

Nov-21

Nov-22

General freight trucking

Hospitals

Amusement and theme parks

Source: U.S. BLS, Producer Price Index.

Nov-23

Average annual spending and percent distribution for selected categories

Average annual expenditures, United States and

South region, 2022

100% 80% 60%

$10,909 $7,422 $5,376 $8,443

$12,439 $8,742 $5,850 $9,343

40%

$11,932

$12,295

20%

$21,494

$24,298

0%

South region

United States

All other items

Personal insurance & pensions

Healthcare

Food

Transportation

Housing

Source: U.S. BLS, Consumer Expenditure Survey.

Average hourly wages for selected occupations

Occupation All occupations

Orlando area

United States

$25.89 $29.76

Accountants and auditors

39.04 41.70

Registered nurses

38.04 42.80

Construction laborers

17.79 22.29

Waiters and waitresses

16.41 15.87

Landscaping and groundskeeping workers

16.23 17.92

Maids and housekeeping cleaners

14.29 15.35

Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2022.

Employer costs per hour worked for wages and selected employee benefits by geographic division

Private industry,

South Atlantic United

September 2023

(1)

States

Total compensation

$37.94 $41.53

Wages and salaries

27.46

29.34

Total benefits

10.48

12.19

Paid leave

2.83

3.09

Vacation

1.47

1.59

Supplemental pay

1.22

1.55

Insurance

2.50

3.04

Retirement and savings

1.12

1.41

Legally required benefits

2.82

3.11

(1) The states that compose the South Atlantic census division are: DE, DC, FL, GA, MD, NC, SC, VA, and WV. Source: U.S. BLS, Employer Costs for Employee Compensation.

Over-the-year changes in wages and salaries

12-month percent changes in ECI

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

Sep-20

Sep-21 South Atlantic

Source: U.S. BLS, Employment Cost Index.

Sep-22

Sep-23

United States

Southeast Information Office ? BLSinfoAtlanta@ ? ? 404-893-4222

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