Drew Dixon
The latest weekly first-time unemployment claims report shows Florida is continuing a relatively upbeat Summer in terms of job security.
The first week of September showed yet another decrease in initial jobless claims in the Sunshine State, according to new U.S. Department of Labor (DOL) figures. There were 6,081 first-time unemployment claims for the week ending Sept. 7, a decrease of 321 filings before seasonal adjustments.
Throughout most of the Summer, Florida has seen initial claims drop on a weekly basis, with a few exceptions. The last time there was a notable increase was for the week ending Aug. 17, when there was a sharp spike in first-time claims. That week saw the biggest increase since the Spring. But the mid-August jump was quickly countered the following week with another drop in claims.
The Florida numbers for the week ending Sept. 7 also reflect the national trend. DOL reports that across America, there was a decrease in the number of first-time unemployment insurance claims. The U.S. figure was 177,663 for that week. That was a decrease of 12,968, or a 6.8% drop.
Florida is doing well compared to many other states. DOL figures factoring in seasonal adjustments for the week ending Aug. 31 show Massachusetts had the largest increase of initial claims in the nation, followed by Wisconsin, Ohio, Pennsylvania and Washington.
Texas saw the largest decrease in initial weekly jobless claims, followed by New York, North Dakota, California and Indiana.
The weekly figures for Florida also reflect the state’s generally stable monthly unemployment rates that have held steady for four straight months at 3.3%, sitting well below the national figure of 4.3%. Even prior to that sustained four-month streak, the Sunshine State saw only modest increases by about 0.1 percentage points each month earlier this year.
In addition, Florida’s general monthly unemployment rate has remained below the national figure for 45 straight months.
One comment
PeterH
September 12, 2024 at 1:09 pm
Now that inflation is well below the 3% level ….. economists expect the FED to lower interest rates. If there is a significant drop in rates we’ll probably see a significant bounce to the DOW, retirement saving accounts, new loans for automobiles and homes. Let’s keep moving FORWARD.
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