October 3, 2022

Florida TaxWatch Economic Commentary

The unemployment rate is not the whole story

Florida's unemployment rate of 5 percent is good news, but not the whole story. An underlying factor that determines whether the job market is truly positive is the labor force participation rate (LFPR).

| 3/24/2016

Conclusion

While the labor force participation rate may be overlooked it is a key metric when examining the health of the Florida job market. While it is great that the unemployment rate has been in steady decline since the Great Recession, the decline in the labor force participation rate shows that the percentage of Floridians competing in the job market is actually at a 32 year low. Understanding what the labor participation rate is and how it relates to the overall job market is key to understanding the true strength of the Florida job market and economy.

FPL

Economic Commentary written by
Kyle Baltuch, MS, Economist

Robert Weissert, Executive VP & Counsel to the President & CEO
Robert D Cruz, Ph.D.,, Chief Economist
Chris Barry, Director of Publications

Michelle A. Robinson, Chairman of the Board of Trustees, Florida TaxWatch
Senator George LeMieux, Advisory Board Chairman, Center for Competitive Florida

Dominic M. Calabro, President, CEO, Publisher & Editor

Florida TaxWatch Research Institute, Inc.
www.floridataxwatch.org

 

Copyright © Florida TaxWatch, March 2016
Florida Tax Watch

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