For the first time in 34 years, the Florida unemployment rate rose in double digits. Experts say Florida's economy might show some growth by early 2010,but it could be a possibility that the 10.2 percent unemployment rate could stay the same until 2011. 10.2 percent the jobless rate in May, was up from April's 9.7 percent.
April's jobless rate was higher than the national unemployment rate of 9.4 percent. Florida's economy began to hit home in the real estate industry first. Huge job losses in the construction field. Banking and mortgage industries began to take a hit as well.
Many Floridans are applying for jobs but they can only get temporary or contract work. Many Floridans are optimistic that their economy will grow but many are pessimistic about their state's economic future. Wachovia economists are predicting the economy to make a 1.4 percent jump but other experts have said the Florida unemployment rate will be over 10 percent by 2011.
Florida's worst unemployment rate was in Flagier County, a staggering 14.4 percent. Many Floridans are still job hunting and they hope to land a permanent job. Others are job hunting because they have no choice. The recession has really hit Florida harder than most states in this country.
The only jobs that are being created are in South Florida, in the healthcare sector. Economists have agreed that the Florida unemployment rate is too high and the state needs to start creating new jobs fast or it will be too late.
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