Lee Unemployment Down-But Not by Much

Unemployment in Lee County is down to 13.7% in October from a high in September of 13.9% according to Florida’s Agency for Workforce Innovation. Statewide,Florida’s seasonally adjusted unemployment rate for October 2009 is 11.2 percent.  This represents 1,027,000 jobless out of a labor force of 9,175,000.  The unemployment rate is nearly unchanged from the revised September rate of 11.1 percent, but is up 4.3 percentage points from the October 2008 rate.

The state’s current unemployment rate is 1.0 percentage point higher than the national unemployment rate of 10.2 percent.  October’s rate was the highest since June 1975 when it was also 11.2 percent.  The last time it was higher was May 1975 when it was 11.9 percent.

Florida’s total nonagricultural employment in October 2009 is 7,340,200, representing a job loss of 339,600, or -4.4 percent compared to October 2008.  This is steeper than the national rate of decline for October which is -4.0 percent over the year.  The October 2009 job loss continues the trend of annual declines that began in August 2007.  Florida’s rate of job decline has moderated over the last few months, moving from -5.4 percent in
March 2009 to -4.4 percent in October 2009.

Industries losing the most jobs are trade, transportation, and utilities; professional and business services; and construction.  These three industries account for more than two-thirds of the job losses in the state.  Healthcare has been Florida’s only growth sector for most of 2009.

“This rate indicates that Florida’s families and businesses are still facing challenges, while fewer job losses reveal slight improvement in the economic climate,” said Agency for Workforce Innovation Director Cynthia R. Lorenzo.