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March 2010

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Highest Unemployment Rate in Florida's History | Sunshine State. Regional and State Employment and Unemployment Summary. For release 10:00 a.m. (EDT) Friday, March 28, 2014 USDL-14-0493 Technical information: Employment: (202) 691-6559 * sminfo@bls.gov * www.bls.gov/sae Unemployment: (202) 691-6392 * lausinfo@bls.gov * www.bls.gov/lau Media contact: (202) 691-5902 * PressOffice@bls.gov REGIONAL AND STATE EMPLOYMENT AND UNEMPLOYMENT -- FEBRUARY 2014 Regional and state unemployment rates were generally little changed in February. Twenty-nine states had unemployment rate decreases from January, 10 states had increases, and 11 states and the District of Columbia had no change, the U.S. Bureau of Labor Statistics reported today. Forty-nine states and the District of Columbia had unemployment rate decreases from a year earlier and one state had no change.

The national jobless rate, 6.7 percent, was little changed from January, but was 1.0 percentage point lower than in February 2013. In February 2014, nonfarm payroll employment increased in 33 states and decreased in 17 states and the District of Columbia. All firm sizes hit hard during the current recession. Issues in Labor Statistics | Summary 10-02 | March 2010 PDF file of this Issue in Labor Statistics | Other Issues in Labor Statistics by Jessica HelfandU.S. Bureau of Labor Statistics Small and large firms[1] have shown different behaviors during the past three economic downturns (recessions). (See box note) In the recession of the early 1990s, there were more net job losses in small firms than in large firms.

The Business Employment Dynamics (BED) data series, published by the Bureau of Labor Statistics (BLS), decomposes the quarterly net employment change into gross job gains and gross job losses. The National Bureau of Economic Research (NBER) defines the past three recessions as follows: Beginning in July 1990 (or quarter 3 on a quarterly basis) and extending through March 1991 (quarter 1 on a quarterly basis) Beginning in March 2001 (quarter 1) and extending through November 2001 (quarter 4) Beginning in December 2007 (quarter 4) and ongoing Notes. High Unemployment Since Records Began. Real Time » Blog Archive » Florida jobless rate hits highest lev. By Jeff Ostrowski The region’s jobless rates fell slightly in February but remained near their highest levels since the 1992 recession, and Florida unemployment rose to its highest number on record.

Palm Beach County unemployment dipped to 12.4 percent last month from 12.5 percent in January, the Florida Agency for Workforce Innovation said today. Martin County’s jobless rate dropped to 13.2 percent in February from 13.6 percent in January. St. Lucie County unemployment fell to 14.9 percent from 15 percent. The statewide seasonally adjusted unemployment rate rose to 12.2 percent, up from 12 percent in January and well above the national average of 9.7 percent. Agency for Workforce Innovation Director Cynthia R. “Last month’s positive job growth of 26,300 jobs and a 300 percent reduction in the number of layoff notices since the peak last May are both encouraging signs of an improving economy,” Lorenzo said in a statement.

“Unemployment is up, but so are payroll jobs,” Snaith said. Money.com Market Report - Mar. 26, 2010. By Alexandra Twin, senior writerMarch 26, 2010: 6:31 PM ET NEW YORK (CNNMoney.com) -- Stocks closed mixed Friday, ending another up week, as investors considered the Greek bailout package, reports of a naval conflict between North and South Korea and a weaker U.S. dollar. The Dow Jones industrial average (INDU) added a few points. The S&P 500 index (SPX) was little changed. The Nasdaq composite (COMP) lost a few points. Stocks rose through the early afternoon after European leaders agreed to a bailout package for Greece and other debt-plagued euro zone nations, cooling fears of a default that would roil global markets. But reports of a conflict between North and South Korea may have caused some stock selling. However, the market may have been primed for a pullback anyway after having hit 18-month highs on Wednesday. The Dow, Nasdaq and S&P 500 have all risen in six of the last seven weeks.

The University of Michigan's consumer sentiment rose to 73.6 in March from 72.5 earlier in the month. Silver lining in gloomy job data. Florida's hard-hit job market sent mixed signals in February. The bad news: State unemployment hit its highest level in 40 years of record-keeping, and nearly one in eight Floridians is out of work. The good news: Hiring picked up compared with January, a sign some heralded as evidence that the worst is over.

Palm Beach County unemployment dipped to 12.4 percent last month from 12.5 percent in January, the Florida Agency for Workforce Innovation said Friday. Martin County's jobless rate dropped to 13.2 percent in February from 13.6 percent in January. St. Lucie County unemployment fell to 14.9 percent from 15 percent — but ranked fourth-worst among the state's 67 counties. The statewide seasonally adjusted unemployment rate rose to 12.2 percent, up from 12 percent in January and well above the national average of 9.7 percent. Amid the gloom, some see reason for optimism. In another hopeful sign, the unadjusted unemployment rate fell a bit from January to February. Unemployment rates rise in 43 states in December - Jan. 22, 2010. By Julianne Pepitone, staff reporterJanuary 22, 2010: 2:55 PM ET NEW YORK (CNNMoney.com) -- A total of 43 states reported rising jobless rates in December, reversing signs of improvement seen the month before, according to a government report released Friday.

Overall, jobless rates increased in those states and the District of Columbia last month and fell in four states, according to the Labor Department's monthly report on state unemployment. Three states reported no change. Americans everywhere are feeling the recession's pain some more than others. In November, 36 states reported a monthly decrease in the unemployment rate. "This reversal is so surprisingly negative that it causes us to be cautious," said Craig Thomas, senior economist at PNC. The economy and labor market are indeed "at that turning point," Thomas said, noting improvements including a pickup in retail sales. The report said all 50 states had an unemployment rate in December that was higher than a year earlier. State unemployment up 88% in five years - Memphis Business Journ. New employment statistics released today by the federal Bureau of Labor Statistics show that Tennessee's unemployment rate has increased 88 percent in the last five years The state’s unemployment rate has grown from 5.7 percent in 2005 to 10.7 percent in 2010, according to the bureau.

In Memphis, the unemployment rate grew from 7.3 percent in January 2005 to 11.3 percent in January of this year, an increase of 55 percent. BLS data also shows that teens in Tennessee are having an increasingly hard time finding work. Teen unemployment in Tennessee averaged 28.5 percent in 2009; in 2005, that number was only 19.2 percent. “The recession may be ending, but the recovery has yet to trickle down to young Americans,” said Michael Saltsman, research fellow at the Employment Policies Institute, in a statement.

The rise in teen unemployment was caused in part by a 40 percent increase in the federal minimum wage between July 2007 and July 2009, according to Saltsman.