Florida’s unemployment rate fell 7.4 percent in August, according to the Department of Economic Opportunity. This confirms that you have recovered half of the jobs lost during confinement.
Among other indicators, a 1.4 percent increase in the workforce is detected. That means 143,000 Florins entered the labour market. The data is significant when compared to those of the destruction of employment by the pandemic.
Florida lost 1,178,100 jobs from February to April 2020 and has since recovered more than half of the lost jobs (+631,600). For their part, Florida companies gained 46,000 workers in the private sector in August.
Compared to the national job creation rate, the State of Florida declined below the national average of 5.8 percent from 7.4 percent in the rest of the country.
The Department’s report showed other encouraging indicators in August. The hospitality and leisure sector, the most affected, recovered 278,500 jobs, 50.6 percent of those lost.
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For its part, business and professional services recovered 73,200 jobs, 48.5 per cent of jobs lost during the pandemic, while health and education services recovered by 72.9 per cent.
“Florida job creators have faced significant challenges this year, forcing many of them to make tough strategic decisions. However, today’s employment data reflects his commitment to Florida families”
Said Dane Eagle, Executive Director of Florida’s Department of Economic Opportunities.
“Under governor DeSantis‘ leadership, I hope to protect Florida’s business environment and work with our partners across the state to help improve the lives of Florins, strategically invest in our communities, and transform Florida’s economy for the future,” Director Eagle said, according to the Department’s note.
Between March and April, the United States, the world’s largest economy, lost some 22 million jobs to the impact of the pandemic, and since then employers have added some 11 million jobs, but the pace of hiring has slowed over the summer.
Weekly applications for unemployment benefit in the United States fell to 860,000 last week, compared to 893,000 in the previous week, as the reopening of pandemic-affected economic activity continues, the Department of Labor reported on Thursday.