The unemployment and labor force participation rates have become a focal point in the campaigns of President Barack Obama and GOP challenger Mitt Romney.
But at the same time, Florida remains among the bottom states as measured by its total workforce.
In July, Florida's 60 percent labor participation rate meant it ranked eighth-lowest in the nation in the number of working-age residents who were holding or seeking jobs, according to data from the U.S. Department of Labor.
The participation rate — reflecting both Floridians who have simply given up looking for work as well as those retiring — has plummeted more than 4 percentage points since the beginning of the Great Recession in late 2007. It has moved downward nearly 1 percentage point — from 60.9 percent — since Scott took office, a 26-year low.
State economists this week projected that if the participation rate had remained steady since December 2011, Florida's current unemployment rate of 8.8 percent would instead be 9.8 percent — hardly moving from last December's 9.9 percent rate.
They attributed most of the unemployment rate's reduction to people dropping out of the workforce.
The unemployment and labor force participation rates have become a focal point in the campaigns of President Barack Obama and GOP challenger Mitt Romney.
The state's report preceded an announcement by the Federal Reserve on Thursday to take more steps to stimulate the economy and job growth.
The shrinking national workforce — the country's labor participation rate hit 63.5 percent last month, down from 66 percent at the recession's start — drew fire from the Republicans last week.
| Why The Next Recession Will Be Triggered By High Oil Prices ETF Daily News (blog) At this point, watch the price of oil (NYSEARCA:USO) if you want to know when the next recession is going to begin. As I've pointed out many times in the past, recessions (well, at least since World War II) have all been preceded by a sharp spike in ... See all stories on this topic » | ||
| ||
| Auto Sales Are Nearing Pre-Recession Levels The Ledger U.S. auto sales had a big month in August, and projections call for 2012's sales to be the highest in five years as consumers make long-delayed purchases amid improving lending conditions. "I would say 2012 will probably be our best year since the ... See all stories on this topic » | ||
| ||
| ||
| Recession Looms in Real Estate Sector THISDAY Live Recession Looms in Real Estate Sector. 16 Sep 2012. Views: 3. Font Size: a / A. 160912F5.Real-Estate.jpg - 160912F5.Real-Estate.jpg. Real Estate. There are indications that the recent boom in real estate sector in Lagos may have reached a saturation ... See all stories on this topic » | ||
| Efficacy of stimulus in Arizona debated AZ Central.com Arizona's economy is far from healed after the beating it took from the Great Recession, but it soon will have to give up the crutch of the federal stimulus act, because most of that money has been spent. Experts debate how much support the stimulus ... See all stories on this topic » | ||
| UK recession "now bites high earners" MENAFN.COM UK recession "now bites high earners" Join our daily free Newsletter. MENAFN - Kuwait News Agency - Arabic - 15/09/2012. No. of Ratings : 0. Digg This Article: http%3a%2f%2fwww.menafn.com% · Share This Article: http%3a%2f%2fwww.menafn.com% ... See all stories on this topic » | ||
| Many Floridians Have Given Up Looking for a Job The Ledger The participation rate — reflecting both Floridians who have simply given up looking for work as well as those retiring — has plummeted more than 4 percentage points since the beginning of the GreatRecession in late 2007. It has moved downward ... See all stories on this topic » |
No comments:
Post a Comment