Florida's Unemployment Rate Stuck at 8.8 Percent
Florida has gained almost 78,000 jobs since last August. This marks the 25th consecutive month of steady gains according to the Florida Department of Economic Opportunity.
University of Central Florida economics professor Sean Snaith said the newest employment numbers indicate a steady, positive growth. Snaith said he was surprised with the number of payroll jobs added.
"When one of four jobs in the entire country were produced in Florida, you know, that's a pretty good outcome," Snaith said."And certainly, given the past couple job reports statewide, a break from a trend of really small gains in payroll."
Snaith, who also serves as director of the Institute for Economic Competitiveness, adds the months of constant growth may encourage people who have stopped looking for jobs to join the labor market again.
"Decline in the unemployment rate both nationally and in Florida have been driven by this decline in the labor force and a decline in the labor force participation rate," Snaith continued. "We would like to see a decline because more people are finding work not because more people are giving up hope of finding it."
Professional and business services, health care and hospitality gained the most jobs of any other industries in the state.
Overall the the unemployment rate remained at 8.8 percent, higher than the national average of 8.2 percent for August.