Being active in the commercial real estate brokerage arena in Northwest Florida, I was thrilled to read the statistics that Tallahassee has the third lowest unemployment rate in Florida. Click here to read the full story on UrbanTallahassee.com.
Florida’s seasonally adjusted unemployment rate for February 2010 is 12.2 percent. This represents 1,126,000 jobless out of a labor force of 9,251,000. The unemployment rate is up 0.2 percentage point from the January revised rate of 12.0 percent, and up 3.0 percentage points from the February 2009 rate of 9.2 percent. February’s unemployment rate is the highest in the recorded series and higher than rates recorded in the 1973-1975 recession. Florida’s unemployment rate remained higher than the national average, which was 9.7 percent in February. Florida’s total nonagricultural employment in February 2010 is 7,173,200, representing a gain of 26,300 jobs (+0.4 percent) over the month and a job loss of 211,500 jobs, or -2.9 percent, compared to February 2009. This is the first time since November 2007 that the over the month change was positive. Florida’s rate of job decline is steeper than the national rate of decline for February which is -2.5 percent over the year.
“February’s unemployment rate underscores the critical importance of our ongoing efforts to support Florida’s families and businesses during these challenging times,” said Agency for Workforce Innovation Director Cynthia R. Lorenzo. “While the unemployment rate is a lagging indicator of economic recovery, last month’s positive job growth of 26,300 jobs and a 300 percent reduction in the number of layoff notices since the peak last May are both encouraging signs of an improving economy.”
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