So much for the notion that Florida’s falling unemployment reflects a rebounding economy. A new report by the Florida Legislature’s Office of Economic Demographic Research says more than two-thirds of the decline in the jobless rate is because of a shrinking work force.

Statewide unemployment has fallen from 9.9 percent in December to 8.6 percent in May. But if the number of people in the labor force had held steady, unemployment would have fallen to only 9.5 percent, the state number crunchers say.

This entry was posted
on Tuesday, July 17th, 2012 at 4:33 pm and is filed under Florida economy.
You can follow any responses to this entry through the RSS 2.0 feed.

You can leave a response, or trackback from your own site.

Article source: http://blogs.palmbeachpost.com/realtime/2012/07/17/floridas-unemployment-has-improved-only-because-fewer-people-are-seeking-work-state-says/