The Flagler and Volusia County regional unemployment rate for February 2004 was recently published by the Agency for Workforce Innovation. The report listed the unemployment rate at 4.5% compared to 4.8% in January 2004, and 5.1% in February 2003. The estimated number of unemployed people as of February 2004, is listed at 10,067.

It’s important for employers to keep abreast of the unemployment trend in today’s market, as it indicates expansion or shrinkage of the number of individuals who are actively seeking work and cannot find suitable employment. You know them, because, these are the folks that traditionally apply to your business as openings occur.

A recent study was conducted in Volusia and Flagler Counties to identify the category of underemployed individuals living within the two-county region. The term underemployment simply refers to individuals who are currently employed, but do not believe their skills are being utilized to the fullest extent. They will typically be looking for positions where they can perform to their greatest capacity. The local survey estimated that there are 42,300 individuals in Volusia and Flagler Counties who have an interest in changing jobs in order to enhance their careers.

The total of unemployed and underemployed for the region is approximately 52,367. If the unemployment rate continues to track downward, employers need to find ways to tap into the ranks of underemployed in order to meet hiring needs. Have you factored targeting employed individuals into your current recruitment plans? Just a thought!