A day after national unemployment claims declined, the state of Florida reported a stagnating job market.
After a day that saw Wall Street hit record highs, the Bureau of Labor Statistics threw some cold water on the nation’s economy with an average unemployment report for the month of July.
Florida’s seasonally adjusted unemployment rate dropped to 7.1 percent in May 2013 which was the lowest rate seen since September 2008. Overall, unemployment dropped 0.1 percent in the last month according to the seasonally adjusted numbers.
As the job market continues to struggle nationwide, those looking for work in Florida got some good news in May.
While the unemployment rate has slowly been ticking downward across the country and in the Sunshine State, the number of new jobs being added to the economy continues to dwindle.
Florida’s unemployment rate dropped for a second-straight month to 7.5 percent which was the lowest the rate has been since October 2008 when it was 7.4 percent.
Governor Rick Scott hopes the release of the state’s unemployment numbers Friday will bring more improvement after the jobs numbers spiked in January.
Florida’s unemployment dipped below the national average in January to its lowest level in four years.
The latest jobs numbers gives hope to workers, employers, and the government that the Great Recession and jobs crisis may be slowly starting to retreat permanently.
While the job market in South Florida continues to struggle, nationally, the numbers remain positive, but not enough to bring the unemployment rate down.