Florida Unemployment Dips In October
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MIAMI (CBSMiami.com) – The state of Florida’s jobless rate remains well above the national average, but did decline by 0.3 percent in October to a monthly average of 10.3 percent.
The October rate was the lowest unemployment rate recorded in the state since June 2009 when the rate was 10.2 percent. The national unemployment rate was set at 9.0 percent for October 2011. Florida’s rate has been higher than the nation’s since February 2008.
Breaking down the numbers by county, Miami-Dade remained the worst county in South Florida. In October, Miami-Dade County’s unemployment rate dropped by nearly a full point to 10.7 percent. The rate in September was 11.5 percent.
Broward County fared much better on the employment front. Broward’s unemployment rate dropped to 8.9 percent in October, down from 9.4 percent in September. Monroe County has the best unemployment rate in the state at just 6.3 percent.
All total, 231,432 workers on unemployment insurance in South Florida are still looking for a job.
Year-over-year, Miami-Dade’s employment numbers have increased and dropped the unemployment rate from 13.1 percent in October 2010 to 10.7 percent in October 2011. Broward’s rate has dropped year-over-year from 10.1 percent to 8.9 percent.
But, as always with statistics, the devil is in the details. The unemployment rates only calculate the workers currently on unemployment insurance.
It doesn’t account for workers who are underemployed, having to take part-time jobs, and those who have simply given up looking for work.
Adding all of those people into the numbers boosts Miami-Dade County’s unemployment rate to 18.9 percent; Broward’s rate to 17 percent; and the state numbers to 18.4 percent.