This article was last updated on April 16, 2022
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South Florida records an unemployment drop of 25% in August, as the number of people seeking their first unemployment claims drops. This is a sign that the job market is not completely in ruins for the inhabitants of South Florida. While the jobless claims do not show the complete picture, it is still perceived as the best available data for employment report that is to be published on September 16, this year.
According to the federal data, 19% first-time claims were dropped. These include 17,000 claims that were filed. As opposed to last year’s data, the figures have decreased by 25%. In fact, since April this year, first-time unemployment claims have dropped by a recurring 20% each month this year.
As the statistics show that unemployment-claims had dropped, the dreamy reality came to a halt when the national report stated that zero new jobs had been created. Didi Florida succumbed to the job freeze or not, that will be unveiled in the nationwide report which is to be published next week.
Presently, Florida’s unemployment rate is recorded at 10.7 % while the national unemployment rate is recorded at 9.1 %, in the month of August.
While the months of July and August have been favorable for Florida in terms of unemployment-claims, August 2010 turned out to be the steepest yearly decline ever since the 2002 setback. Even though the unemployment claims up till now tend to paint a comparatively healthier picture, this year’s August so far is in the league of the third worst decade with reference to newly created jobs.
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