Florida’s October Unemployment Rate Shows Rebound From Irma
Florida’s unemployment rate dropped in October to 3.6 percent. Analysts say it’s a sign that the economy is recovering from Hurricane Irma.
Even though Florida lost jobs in the wake of Hurricane Irma, there were gains across most sectors in the most recent report, says PNC economist Mekael Teshome.
“The labor market is getting back to normal after the disruption, lost output is being replaced,” said Teshome. “We want to see the longer term impact on household spending and with population growth and real estate values.”
The state lost more than 127,000 jobs after Irma struck in September. Last month the state gained 125,300 jobs.
There are now 369,000 jobless Floridians out of a workforce of 10.1 million people.
Monroe County in the Florida Keys usually has the lowest unemployment rate, but not in October. Okaloosa County in the panhandle, and St. Johns County had the lowest rate at 2.7 percent.
Hendry County had the highest at 7.3.
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