Friday, September 20, 2013

Florida Unemployment Down To 7%

MELBOURNE, Florida --  Governor Rick Scott announced today that the statewide unemployment rate for August 2013 dropped to 7.0 percent. This is down from 7.1 percent in May, June, and July 2013, and down 4.1 percentage points since December 2010. The statewide unemployment rate has remained below the national average of 7.3 percent for the sixth consecutive month. Florida has created 365,500 private sector jobs since December 2010.

“Today’s announcement is great news for Florida families as the state’s unemployment rate dropped to 7.0 percent in August," Governor Scott said. "Since December 2010, the unemployment rate has dropped 4.1 percentage points and Florida has created 365,500 new private sector jobs. This is evidence that our pro-growth and business friendly policies are working.”

Since December 2010, Florida’s statewide unemployment rate has dropped 4.1 percentage points, from a rate of 11.1 percent to August’s rate of 7.0 percent. In the same timeframe, the national unemployment rate has dropped 2.0 percentage points, demonstrating Florida’s improving economic climate continues to outpace the national recovery. Florida’s unemployment rate has now declined year-over-year for 34 consecutive months.

Brevard County Unemployment

Brevard County's unemployment rate fell to 7.5% in August from 7.9% in July 2013.  The Space Coast unemployment rate continues to remain higher than that of the Florida statewide rate.  August's Brevard County unemployment rate is 1.9 percentage points lower from a year ago.

The reason for the increase in Brevard County unemployment was that the decrease in the labor force (272,064 in August versus 273,649 in July) outpaced the decrease in jobs (251,636 in August versus 252,152 in July).  There were 20,428 unemployed Brevard County residents in August 2013.

Job gains on the Space Coast over the last year were led by professional and business services (+1,600 jobs).  Government and Manufacturing sectors saw job losses (-100 jobs each).