Palm Beach County's jobless rate shoots up
By Palm Beach Business.com
DELRAY BEACH — Unemployment shot up in Palm Beach County during November, while Florida's rate, adjusted for seasonal factors, inched higher.
Florida’s Agency for Workforce Innovation reported Friday that the jobless rate in Palm Beach County increased to 12.3 percent in November from 11.7 percent in October and 11.8 percent a year earlier. The number of people out of work increased to 76,295 from 72,486 a month earlier. County figures are not adjusted for seasonal factors that influence the job market.
Broward County’s rate rose to 10.8 percent from 10.1 in October and 10.2 percent a year ago.
Statewide, the jobless rate for November increased to 12.0 percent from 11.9 percent in October and 11.6 percent in November 2009. Those numbers are adjusted for seasonal factors.
The good news, such as it is: The number of jobs in Florida increased for the fifth consecutive month, albeit by only 300. For the 12 months through November, Florida is up 36,200 jobs, sixth biggest gain among the states.
November’s numbers are similar to those posted over the past few months, indicating the recovery is proceeding in Florida but at a slow rate.
“When you look over the last four months, we have been very stable,” said Rebecca Rust, chief economist for the agency. “There’s been very little change.”
According to the economic estimating conference, a gathering of economists from the Legislature and the governor’s office, the state can expect to see more of the same, with unemployment averaging 11.8 percent for the fourth quarter of 2010 and the first quarter of 2011, and drifting down to 11 percent by the end of the year. Unemployment won’t drop to 6 percent until 2019.
Five industries showed employment gains during the 12 months through November, including private education and health care, up 28,900 jobs, and leisure and hospitality, up 21,400 jobs. Five industries also showed declines, including construction, down 12,900 jobs, and manufacturing, down 9,200.
