Business

Florida Jobless Rate Steady, but Slight Increase Predicted

By: Jim Turner | Posted: September 17, 2011 3:55 AM

For the 11th consecutive month, the unemployment picture in Florida has shown some light.

But because the federal government continues to struggle with its budget, the state’s unemployment improvements in the past year could suffer a setback later this year.

Rebecca Rust, Agency for Workforce Innovation’s chief economist, said the forecast from the Economic Estimating Conference is for Florida’s unemployment rate to go back to 11 percent by the end of this year, returning to 10.6 percent at the end of 2012.

“Overall, the optimism has been pulled back by some degree,” Rust said of the nation’s economic outlook. “I think they do expect, due to the budget constraints at the national level, for deficit reduction goals that will impact the federal funds that do come in to the state of Florida, so there will be some short-term impacts.”

She noted that in addition to low consumer confidence and the European debt crises shaking U.S. markets, Florida's economy could be hurt by declines in defense spending as operations are scaled back in Iraq and Afghanistan.

Florida's unemployment rate in August held steady for the third month at 10.7 percent, according to numbers released Friday by the Agency for Workforce Innovation.

Mark Wilson, president and CEO of the Florida Chamber of Commerce, stated the monthly numbers indicate Florida continues to be moving in the “right direction” in terms of how government operates to create jobs.

“Governor Scott and the Florida Legislature have already taken significant steps in the right direction by lowering taxes, balancing the state’s budget, streamlining regulations and reorganizing Florida’s economic development functions,” Wilson stated in a news release. “With additional education and legal reforms, Florida can and will once again lead the nation in private-sector job creation.”


Comments (10)

Steve
3:01AM OCT 30TH 2011
I don't believe these unemployment numbers that much. I think most of the people have stopped looking for jobs and not included in those numbers. Web Directory
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10:02PM OCT 18TH 2011
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12:40AM SEP 26TH 2011
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9:13PM SEP 19TH 2011
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LDouglas
8:26AM SEP 17TH 2011
"The lowest unemployment rates are found in Monroe (6.7 percent), Walton and Liberty (both 7 percent)."

Interesting. I don't know about the other two counties but I know Monroe County has strict growth controls so it hasn't used the growth equals prosperity model.

And speaking of growth and jobs for the U.S. as a whole, Joseph Lawler of "The American Spectator" had this to say about it: “The important thing to remember is that the economy has to add about 90,000 to 150,000 jobs per month simply to keep up with population growth.”
RepublicanConscience
7:48AM SEP 17TH 2011
Pace is slow but the direction is up. Florida is doing great. I went to California, Lake Tahoe, and Nevada. I toured the "Wine Country" and went to Napa, the city was a ghost town. 4 out of 5 stores on the main drag were empty for lease. The streets were empty. I could not believe it. Then to Tahoe where it was somewhat busy with tourism (a 4 months a year economy). I took side trips to Reno, NE, and Carson City, NV the State Capital. They were both ghost towns.

I do not know of a single place in Florida that looks like these places.