Florida’s Unemployment Rate Increases in May

In the most recent data released by the Florida Department of Economic Opportunity (DEO) on Friday, the May unemployment rate in Florida was 4.9%, up .1% from the unemployment rate in April. 

 Although the the number of individuals who qualified for unemployment rose from 488,000 in April to 503,000 in May, the labor force increased by 72,000 people during the same time. 

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Florida Unemployment Claims Trending Down

Governor DeSantis lifted the COVID-19 restrictions in the state of Florida and industries look to begin returning back to normalcy starting with the issue regarding unemployment claims. According to the U.S. Department of Labor, for the week that ended May 1st, 2020, there were approximately 18,355 first-time unemployment claims in Florida and 116,304 unemployment claims by individuals who had already filed an initial unemployment claim, also known as insured claims. 

 The 18,355 initial unemployment claims from that week is a 9,662 decrease from the 28,017 initial claims from the week before and the number of insured claims decreased from 129,628 in that same week. The decrease in new claims reflects the national number of new claims during that week which was 498,000, a decrease of 92,000 from the prior week and the lowest number of initial claims since March 14th, 2020 when the number of new claims was only 256,000. 

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