From the Miami Herald:
TALLAHASSEE, Fla. — Florida’s unemployment rate in May jumped to 10.2 percent.
The state agency that tracks unemployment numbers said Friday that unemployment rose by half a percentage point over the revised April figure of 9.7 percent.
The Agency for Workforce Innovation said 943,000 Floridians workers are out of a job.
More than 417,000 Floridians have lost jobs in the last year. In May 2008, the state’s unemployment number stood at 5.8 percent.
I know I’m beating a dead horse here, but that is not the “real” unemployment rate. The teachers and other school employees that were terminated at the end of this school year won’t be counted as unemployed until the start of the school year. The owners of the countless failed small businesses aren’t counted because they aren’t eligible for unemployment benefits. People that have accepted part-time work because they can’t find full-time work aren’t counted. The real unemployment/underemployment rate is probably closer to 20%.
The unemployment rate in the Jacksonville metropolitan area — consisting of Duval, Baker, Clay, Nassau and St. Johns counties — rose from 9.3 percent in April to 9.7 percent in May, the Florida Agency for Workforce Innovation reported today.
Then there are all of those new graduates looking for jobs.
Could be worse. Could be California.
California’s unemployment rate climbed to 11.5 percent in May, the highest in modern record-keeping, the U.S. Department of Labor reported Friday.
And the good news just keeps on a-comin’:
In Arizona, which along with Florida suffered the largest percentage drop in jobs last month, the losses were spread across many industries, including health care and government, said Marshall Vest, director of the University of Arizona’s Economic and Business Research Center.
After the West, the Midwest had the second-highest unemployment rate, at 9.8 percent. The South’s jobless rate was 8.9 percent. The Northeast had the lowest, 8.3 percent.
The government report showed employment conditions deteriorating in 48 states and the District of Columbia last month.
Michigan, the heart of the sinking auto industry, had the highest unemployment rate: 14.1 percent.
Eight states had record-high jobless rates. Only two — Nebraska and Vermont — reported no increases. Nebraska’s jobless rate dipped, and Vermont’s was flat.
The five other states that set new unemployment highs were North Carolina, Oregon, Rhode Island, South Carolina, Florida and Georgia.
After Arizona and Florida, the next-largest percentage drop in jobs last month was Oklahoma, followed by Arkansas, Kentucky and Michigan.