Unemployment down to 7.7%

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Unemployment continued to drop last month in Florida, slipping to 7.7 percent, its lowest rate in over four years, giving some back-up to Gov. Rick Scott’s claim that his job creation efforts are working, reports David Royse of the News Service of Florida.

Scott also announced Friday that just under 300,000 private sector jobs have been created in Florida since December 2010, the month before he took office. 

The 7.7 percent jobless rate is the lowest since October of 2008 and is well below the 9 percent rate of a year ago. 

Florida’s rate is also the same as the national 7.7 percent unemployment figure, a key psychological marker of how the state is doing. Earlier this month, state officials reported that Florida unemployment dipped in January to 7.8 percent, below last month’s national rate of 7.9 percent. The Florida figure, however, has since been adjusted upward to show that the actual rate in January was 7.9 percent, same as the nation as a whole. 

Still, Scot has pointed to the rebounding labor picture as proof that “it’s working,” his new catchphrase as he heads into next year’s re-election, a play on his 2010 campaign motto “Let’s Get to Work.”

“Our efforts to reduce taxes, pay down state debt and grow the economy, demonstrate our success in growing jobs for Florida families,” Scott said in a statement Friday. 

The statement noted that the state’s jobless rate has dropped 3.4 percentage points since Scott took office, making clear what the governor’s main election year talking point will be. 

Scott went to Amcor Rigid Plastics USA in Orlando on Friday to tout the new employment numbers. The plastics company opened a new manufacturing facility in January, hiring 29 employees. Scott has also made easing tax requirements for manufacturers one of his top priorities in the current legislative session. 

The unemployment rate in the state has gone down year-over-year, even as the labor force has grown, according to Department of Economic Opportunity statistics, meaning that the drop is mostly attributable to actual job growth, not people leaving the labor force. DEO counted the non-seasonal workforce last month at 9.35 million, up from 9.27 million a year ago. 

Florida’s seasonally adjusted total non-farm employment was 7,479,700 in February, an increase of about 7,800 over January and up 128,100 from a year ago, a 1.7 percent increase, DEO said. Nationally, the number of jobs increased a little less, 1.5 percent. 

DEO also noted that home sales in the state have picked up and pointed to a Florida Realtors figure showing the backlog of houses on the market has dropped by 32 percent in the last year. That’s even as prices have started back up, increasing nearly 13 percent in that same year.

The Keys continue to be the place to be if you want a job. Monroe County had the state’s lowest unemployment rate last month at 4.2 percent, followed by Walton and Okaloosa counties in the western Panhandle, and Alachua and St. Johns counties, all below 6 percent. Hendry County in south-central Florida had the highest jobless rate in the state at 10.8 percent. Flagler and Putnam counties also had unemployment above 10 percent.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.