Unemployment Rate Grows in Florida
Florida’s unemployment rate is now in the double digits at 10.2 percent. The last time the state’s jobless rate was higher was 1975. Nearly one million Floridians are searching for jobs and more are headed to the unemployment line.
The statistics show a loss of 61,000 jobs in Florida from April to May. The losses only increase the burden on the state’s unemployment compensation fund. The fund is expected to dry up in August, and the state will have to borrow federal dollars to pay jobless claims.
Carlos’ Cuban Café has been feeding hungry Floridians since 1997, but Friday night, the restaurant will serve its last meal.
“The economy’s down, cost is up," said co-owner Anne Pla.
When the restaurant closes, eight more people will be added to the state’s growing unemployment ranks.
Rebecca Rust / AWI Chief Economist
“Florida’s unemployment rate is higher than that of the nation, and our rate of job decline is also more severe than that of the nation," said Rebecca Rust, chief economist for the Agency for Workforce Innovation.
About 950,000 people in the state are looking for work, and many Floridians are giving up the job search and going into business for themselves.
Hotdog vendor Vic Crosby has seen his competition increase, but the number of people in need of a cheap lunch is also increasing.
“It all really comes down to people not wanting to spend the money that they normally would," Crosby said.
And until people start spending more, the jobless rate could continue to grow.
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- Local Unemployment Rate Rises
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- Fla. Unemployment Rate Drops to 7 percent
- UNEMPLOYMENT RATE IN MARION COUNTY
- December Unemployment Rates
- Unemployment Rates Down
- State Unemployment Rate Falls to Lowest Level Since Recession