So What is Going On With This Economy Locally?

Ahead of my 69th Coffee with the Commissioner event Tomorrow Morning, I have been researching issues related to the economy which I'll be discussing with my guest Todd Thomson, President and CEO of the Chamber of Commerce.

One of the issues I will discuss with him is the labor participation rate and how it is impacting the workforce locally.

In Thomson's op-ed from a few weeks back, he brings this issue up as a problem for local businesses:  they can't find employees to fill the positions they have for their business operations locally.

But why?  That's the million dollar question.

According to Jeff Dyer, workforce development specialist with Florida West, with whom I have been speaking on this topic, the total labor force is actually at an all-time high with 147,000 citizens employed in Escambia County currently.

And, according to Dyer, the participation rate is actually up to around 61% locally--a figure that has remained relatively constant over the last 10 years--with the exception of 2020 when the pandemic first hit and the resultant recession spiked unemployement to 12% locally and created a dip in participation down to 58.83%.

These numbers mirror what is happening nationally, according to the labor participation rate chart on the Federal Bureau of Labor Statistics website.

So with unemployment locally hovering at about 3.7%, with 147,000 citizens working, and only about 5,500 citizens unemployed and actively seeking work-----why are so many jobs---especially the jobs that require very little skill---going unfilled locally?

I mean, even with 147,000 working--many (tens of thousands) of those citizens are commuters from Santa Rosa and Baldwin Counties.  Okaloosa probably as well.  So with a population of 320,000---how many Escambians are not working "by choice?"

Are federal entitlement policies that paid/are paying folks to not work hurting our employers locally?

These are  the questions I want to ask Todd Thomson tomorrow and are among several I will throw his way.

What is going on with this economy locally--and why are so many NOT re-entering the workforce?