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


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.


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.


Copyright © Florida TaxWatch, March 2016
Florida Tax Watch

Tags: Florida TaxWatch, employment

Florida Business News

Florida Trend Video Pick

Florida's the top state for women entrepreneurs
Florida's the top state for women entrepreneurs

Ian leaves millions of Floridians without power; Florida's insurance industry faces Ian hit; Citizens estimates Ian losses; New York drivers make the switch; Florida's tops for women-owned businesses.

Video Picks | Viewpoints@FloridaTrend

Ballot Box

Apart from electing a new governor, what is your top voting issue in Florida's 2022 elections?

  • Inflation
  • The economy
  • Abortion
  • Gun policy
  • Immigration
  • Climate change
  • Education
  • Health care
  • Other (Please share your comments in the comment section below)

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701

© Copyright 2022 Trend Magazines Inc. All rights reserved.