Record low unemployment in Florida
Bottom Line: Florida’s jobs report proved to be good enough for a second look. You might recall that last month’s national jobs report turned out to be super low and generally disappointing (though I did find an impressive story-line with more than 200,000 part time jobs being converted to full-time opportunities). Anyway, as it turns out Florida’s story was great in the face of a less than stellar national picture.
Not only is Florida’s unemployment rate now well below the national average at 3.4%, we hit a new all-time low for unemployment. That’s pretty awesome! Additionally, we added 17,000 jobs in Florida in May. That’s 23% of the total jobs that were added in the entire country during the month! What’s more is that we’ve added jobs at a rate that’s 56% faster than the national average over the past year. You get the idea. However, you look at this report it’s incredible. And as for South Florida? The good news keeps getting better... Unemployment rate by county.
- Broward: 3%
- Miami-Dade: 3.2%
- Palm Beach: 3.1%
Florida’s at a record low for unemployment and all of South Florida is below Florida’s average. This is just plain great news. Our economy is cooking with gas.