According to the Bureau of Labor Statistics, the part of the population without jobs in Florida reached 8.6 percent in January. This is an increase of 1 percent from Decembers 7.6 percent. This most recent data is seems even more startling when compared to statistics from the previous year, when only 5 percent of the state’s population was unemployed.
During the same month of this year Florida’s unemployment rate was also a full percent higher than the national average of 7.6 percent. This comes as no surprise when one considers the fact that the state’s jobless rate has been higher than the national unemployment percentage for over a year now.
According to the state Agency for Workforce Innovation (AWI), approximately 800,000 residents out of a workforce of nearly 9.3 million are now in the process of looking for new jobs in Florida. The last time the state’s unemployment rate was higher than it was in January was back in September of 1992 when it hit 8.9 percent.
According to the AWI, the total nonfarm employment in January was 7,557,700. This figure is down 355,700 jobs from the first month of 2008. One factor that seems to be causing the state so much trouble is its reliance on the construction industry, where 26 percent of job losses statewide occurred in the last year.
Before the housing market crisis hit, real estate was a big business in Florida. This served to create many jobs with every new development constructed. Now that foreclosure rates are up and available properties remain empty, there is no need to continue building at such a rapid speed and no new building or homes means no new jobs in a time when the area needs them most. Since the beginning of 2008 AWI’s figures show that this industry has lost a total of 100,000 jobs. This represents a decrease in employment in the sector of around 18 percent.
Another area of the employment market that usually helps to provide many jobs in Florida, the leisure and hospitality industry, is also suffering. With most of the country in an obvious recession fewer individuals have the money to spend on a vacation to the Sunshine State. Because of this, jobs in the industry have decreased by approximately 4 percent.
One industry that continued to fair well despite being surrounded by so much bad news was the education and health care sector, where approximately 23,000 jobs were created. Considering the necessity of many of the services provided by this area of employment, this is to be expected. For the most part, this sector is doing well through most of the nation.
The government sector also served to create around 4,100 Florida jobs, making these two of the few areas of employment that job seekers can be optimistic about.
Tags: Jobs in Florida
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