Department of Numbers

Panama City, Florida Unemployment

The BLS reported that the unemployment rate for Panama City rose 0.1 percentage points in May 2023 to 2.4%. For the same month, the metro unemployment rate was 0.2 percentage points lower than the Florida rate. The unemployment rate in Panama City peaked in April 2020 at 12.7% and is now 10.3 percentage points lower. From a post peak low of 2.3% in January 2023, the unemployment rate has now grown by 0.1 percentage points. You can also compare Panama City unemployment with unemployment in other cities.

Unemployment Rate May 2023 Month/Month Year/Year
National 3.7% +0.3 +0.1
Florida 2.6% 0.0 -0.3
Panama City 2.4% +0.1 -0.4
Note: Metro level data is now seasonally adjusted.1 All comparisons are made with May 2023 data as June metro level unemployment data has not yet been released.

Unemployment Rate: Panama City, Florida, National

Panama City, Florida monthly unemployment rate chart

Note: Recessions shown in gray.

Panama City, Florida Unemployed

The number of people unemployed in Panama City peaked in April 2020 at 10,217. There are now 7,905 fewer people unemployed in the metropolitan area. From a recent trough of 2,185 in February 2023, the number of unemployed has now grown by 127.

Unemployed Persons May 2023 Month/Month Year/Year
Panama City 2,312 +76 -257

Number of Unemployed Persons

Panama City, Florida Unemployment History

Date National
Unemployment Rate		 Florida
Unemployment Rate		 Panama City
Unemployment Rate		 Panama City
Unemployed
June
2023		 3.6% — — —
May
2023		 3.7% 2.6% 2.4% 2,312
April
2023		 3.4% 2.6% 2.3% 2,236
March
2023		 3.5% 2.6% 2.3% 2,212
February
2023		 3.6% 2.6% 2.3% 2,185
January
2023		 3.4% 2.6% 2.3% 2,214
December
2022		 3.5% 2.7% 2.4% 2,300
November
2022		 3.6% 2.7% 2.4% 2,295
October
2022		 3.7% 2.7% 2.4% 2,302
September
2022		 3.5% 2.7% 2.5% 2,338
August
2022		 3.7% 2.7% 2.5% 2,385
July
2022		 3.5% 2.7% 2.6% 2,438

1. Metro area unemployment rates are now seasonally adjusted. The BLS has started publishing smoothed seasonally adjusted metropolitan area data which makes comparisons to state and national data more relevant than the unadjusted numbers. ↩

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