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Florida's jobless rate hits 28-month low

By Palm Beach Business.com

DELRAY BEACH — Statewide unemployment dropped to its lowest level in more than two years last month but remained substantially above national numbers, according to the Florida Department of Economic Opportunity.

Joblessness fell sharply in Palm Beach and Broward counties as well.

The October jobs report, released Friday, showed Florida’s jobless rate falling to 10.3 from 10.6 percent a month earlier and 11.8 percent a year ago. The number of unemployed residents fell to 955,000 in October, down from 978,000 in September and 1.094 million in October 2010.

The state numbers are adjusted for seasonal factors.

In Palm Beach County, the rate dropped to 10.3 percent from 10.9 percent in October, as employers began to gear up for the season. A year ago, unemployment sat at 11.9 percent.  County stats are not seasonally adjusted, making the year-over-year comparison provides a better measure of the improvement in the jobs market than the month-to-month gain.

The actual number of unemployed in Palm Beach County: 63,964, down from 67,918 in September and 73,230 in October 2010.

In Broward County, the jobless rate dropped to 8.9 percent from 9.4 percent in September and 10.1 percent a year before. The number of jobless residents: 88,132, down from 89,802 in September and 99,981 a year earlier.

Sectors adding jobs statewide included leisure and hospitality, up 39,400; private education and health care, up 29,200; professional and business services, up 26,600; trade, transportation and utilities, up 20,500.

Sectors shedding jobs: construction, down 11,600; government, down 8,600; information, down 4,600; other services, down 1,900.