Florida’s employment situation continues to worsen
And things continue to get… worse. Florida’s unemployment rate rose to 10.6 percent in June, continuing a demoralizing climb begun two years ago and fueling fears that the state may be facing a so-called “jobless recovery.”
June’s numbers were 0.3 percentage point higher than the revised May rate of 10.3 percent and represent about 970,000 people out of a total work force of 9.2 million, according to a report released by the state Friday.
The rate is 4.6 percentage points higher than it was in June 2008, and about 1 point higher than the national unemployment rate of 9.5percent.
Florida’s jobless rate is at its highest level since October 1975, when 11 percent of the labor force was unemployed.
Miami-Dade’s unemployment rate was 10.6 percent in June, according to government figures released Friday. It’s the worst jobless rate since September 1983, when it was 10.8 percent.
Florida’s economy will continue flagging until the third quarter of 2010, mirroring what now is expected to be an equally slow recovery nationwide, the analysts for the legislative and executive branches forecast during a conference at the Capitol.
That’s about six months slower than the economists had predicted as recently as March, before revising their national outlook.
Home sales and construction remain major factors in the turnaround, as do foreclosures.