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Florida Unemployment Drops To 8.5%

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MIAMI (CBSMiami) – Florida’s seasonally adjusted unemployment rate dropped 0.2 percentage points to 8.5 percent in October 2012. The October unemployment report was the lowest unemployment rate in the state since December 2008.

According to the Department of Economic Opportunity, the October rate was 1.7 percentage points lower than in 2011 when the unemployment rate in Florida was 10.2 percent. The U.S. unemployment rate in October stood at 7.9 percent.

Looking at the local numbers, Broward County’s unemployment rate dropped from 7.6 percent in September to a non-seasonally adjusted 7.1 percent in October. The October rate was nearly two full points lower than the same time last year.

Still, Broward’s overall labor force shrank from September to October by 3,393 workers based on the numbers released by the state. Overall, 1,446 more people were employed in October than in September, while 4,839 people stopped receiving unemployment insurance from the state.

In Miami-Dade County, the unemployment rose by 0.1 percent to 8.9 percent in October. The October 2012 unemployment rate was 1.8 percentage points lower than the same time in 2011.

Miami-Dade’s overall labor force grew by 22,125 workers over the last month. An additional 18,145 people got jobs in the county over the last month while 3,980 more people received unemployment insurance.

Monroe County paced the state with an unemployment rate of 4.7 percent.

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