Florida Unemployment Rate Surges as Key Industries Cut Jobs
Updated
Updated · Bloomberg · Jun 25
Florida Unemployment Rate Surges as Key Industries Cut Jobs
3 articles · Updated · Bloomberg · Jun 25
Summary
Florida’s job market has weakened sharply, with unemployment rising as major industries shed workers across the state.
Construction and other key sectors drove the deterioration, undercutting the state’s long-running appeal to workers drawn by lower taxes and population growth.
In Orlando, electrician Joseph Mc Cue said a hospital construction job that helped prompt his move from New York no longer offered the stability he expected.
The slowdown marks a setback for a state that had marketed itself as a jobs magnet, raising pressure on households and on Florida’s broader growth story.