New numbers from the Florida Department of Economic Opportunity show that the state's unemployment rate edged up slightly in May to 6.3%. That translates to about 606,000 jobless Floridians.
The bump in the rate, from April’s 6.2% mark, was not totally unexpected. Economists had projected it to grow slightly, as more people began seeking work as the economic recovery continues. DEO Executive Director Jesse Panuccio says concentrate on the big picture.
In this week’s Economic Report, Dr. Rick Harper discusses the latest report from the U.S. Labor Department regarding the number of Americans filing for first-time jobless claims. Initial claims for state unemployment benefits dropped 32,000 to a seasonally adjusted 300,000 for last week. That was the largest decline since December 2012, and marked the lowest level since May 2007.
The watchdog group Integrity Florida is out with a study of the Department of Economic Opportunity’s attempts to lobby the Legislature for one billion dollars through 2020. The cash would be used for movies, TV shows, video games and other entertainment industry productions.
Television’s “Burn Notice,” the movie “Dolphin Tale” and the Madden football video game are produced in Florida.