September 29, 2023

Florida Jobless Claims Edge Up

First-time unemployment claims in Florida increased slightly last week, but the pace of filings remains relatively low.

The U.S. Department of Labor on Thursday estimated 5,649 jobless claims were filed in Florida during the week that ended Sept. 17, up from a revised count of 5,215 the previous week.

Over the past four weeks, the state has averaged 5,426 new claims a week. That is the lowest four-week pace since the state averaged 4,954 claims a week between May 14 and June 4.

The new numbers, however, come as state economists have warned Florida’s real-estate market could slow as mortgage rates rise and housing-affordability issues increase.

On Wednesday, the Federal Reserve boosted interest rates by three-fourths of a percentage point --- the fifth hike since March --- in continued efforts to temper inflation.

Nationally, the number of initial unemployment claims last week was estimated at 213,000, up 5,000 from the prior week.

The national unemployment rate was 3.7 percent in August, while Florida’s rate was 2.7 percent.

The Florida rate reflected an estimated 293,000 people out of work from a labor force of 10.706 million.

Tags: News Service of Florida

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