The Florida unemployment continued to decline in May, dropping to a seasonally adjusted 8.6 percent. It’s the lowest the unemployment rate has bee in the Sunshine State since December 2008. But the news in South Florida is far from rosy.
Florida’s unemployment problem continues to throw a damper on any potential economic recovery in the state. Statewide, the unemployment rate stood at 10.6 percent; but the news in South Florida was much, much worse.
Unemployment in Miami-Dade County is 13.7 percent and the jobs to bring that rate down simply are not there. Now, the economy in South Florid and the nation could take a debilitating hit when government aid ends this year.
Job seekers wishing employers would add more jobs in the month of May had their hopes dashed. Employers across the country added just 54,000 jobs in May, the fewest jobs added in eight months.