Merger creates world’s biggest realtor association

Florida’s jobless grew to 4.6% in February, according to a state report released Friday, with most industries showing declines in workers over the past year.

Among the metro regions across the state, the Miami-Fort Lauderdale-West Palm Beach area maintains the lowest unemployment rate at 3.8%, down from 3.9% in January. A year ago, the South Florida region had a 3% jobless rate.

The unemployment figures represent mid-February conditions.

The Department of Commerce report indicates the state lost 36,700 jobs over the year, including 25,600 positions from the private sector. 

Over the month the labor force grew by 17,000, the same as the number of people qualified as unemployed. The report listed no month-to-month change in the overall number of people employed.

In the last 12 months Florida’s labor force gained 16,000 workers, while the number listed as out-of-work increased by 118,000.

State economists have surmised over the past year that the rise in unemployment is less about people losing their jobs and more about those entering or reentering the labor market needing more time to find work. They have also attributed a lack of growth in the labor force to an increase in retirements.

In Friday’s report, only the field of education and health services showed job growth over the past year, with an addition of 35,000 workers. Of those workers, 29,900 were involved in health care and social assistance jobs.

Public sector jobs were down 11,100 over the year, leisure and hospitality fell by 10,300, construction was off 9,100 workers, financial activities lost 7,500 positions and manufacturing declined by 100 jobs.

The February report was released a little more than a week after the January report, following the annual “benchmarking” process at the state and federal level that includes a revision of historical data.

The national rate currently stands at 4.3%, reflecting mid-March conditions. A year earlier, the U.S. rate was at 4%. At that time, Florida’s rate was 3.6%.

Florida’s unemployment rate has grown in each monthly report released since August. The state’s March numbers will be released May 1.  

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