Department of Numbers

Panama City, Florida Unemployment

The BLS reported that the unemployment rate for Panama City rose 0.1 percentage points in November 2023 to 2.8%. For the same month, the metro unemployment rate was 0.1 percentage points lower than the Florida rate. The unemployment rate in Panama City peaked in April 2020 at 12.7% and is now 9.9 percentage points lower. From a post peak low of 2.3% in January 2023, the unemployment rate has now grown by 0.5 percentage points. You can also compare Panama City unemployment with unemployment in other cities.

Unemployment Rate November 2023 Month/Month Year/Year
National 3.7% -0.1 +0.1
Florida 2.9% +0.1 +0.2
Panama City 2.8% +0.1 +0.4
Note: Metro level data is now seasonally adjusted.1 All comparisons are made with November 2023 data as December 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 7,499 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 533.

Unemployed Persons November 2023 Month/Month Year/Year
Panama City 2,718 +58 +423

Number of Unemployed Persons

Panama City, Florida Unemployment History

Date National
Unemployment Rate		 Florida
Unemployment Rate		 Panama City
Unemployment Rate		 Panama City
Unemployed
December
2023		 3.7% — — —
November
2023		 3.7% 2.9% 2.8% 2,718
October
2023		 3.8% 2.8% 2.7% 2,660
September
2023		 3.8% 2.8% 2.7% 2,566
August
2023		 3.8% 2.7% 2.6% 2,476
July
2023		 3.5% 2.7% 2.5% 2,408
June
2023		 3.6% 2.6% 2.5% 2,349
May
2023		 3.7% 2.6% 2.4% 2,311
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

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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