Florida Unemployment Rate
The Bureau of Labor Statistics measures the unemployment rate by comparing the total amount of individuals who are unemployed to the labor pool in entirety. When determining the jobless rate, authorities use the definition of unemployed as those who are seeking and available to work, but remain unemployed. The way the unemployment rate is factored is through two separate labor force surveys. The so-called “normal” jobless rate for a state is around 5 percent. Fluctuations in a state unemployment depends on certain factors such as overall job growth, loss of jobs and individuals entering or re-entering into the labor force. Understanding the unemployment rate is a crucial part of determining certain economic factors and potentially outlining the trajectory of a state’s job scope.