Brevard County Unemployment Rate Falls To 11.1%

TALLAHASSEE – Brevard County’s unemployment dropped from 12.4% in January 2011, to 11.4% in February 2011, to 11.1% in March 2011, according to Florida’s Agency for Workforce Innovation.

U-6, which is a broader measure total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force, has not yet been released for Brevard County, Florida.

The U-6 for the State of Florida averaged 19.3% for 2010, while the often cited U-4 averaged 12.4%, a difference of nearly 7%.

Florida’s seasonally adjusted unemployment rate in March 2011 is 11.1 percent, the lowest since November 2009 when the rate was also 11.1 percent. This represents 1,030,000 jobless out of a labor force of 9,251,000. The state’s rate is down 0.4 percentage point from the February 2011 rate of 11.5 percent and is 0.2 percentage point lower than the March 2010 rate of 11.3 percent. This is the first over-the-year decline in Florida’s unemployment rate since November 2006.

Florida’s total nonagricultural employment in March 2011 is 7,205,300, an increase of 22,600 jobs (+0.3 percent) from February 2011. The number of jobs in the state is up 51,500 over the year, an increase of 0.7 percent from March 2010. It is the strongest over-the-year growth rate in the state since May 2007 when it was also 0.7 percent.

“The continued decline in the unemployment rate paired with very positive job growth provides a strong signal that Florida’s economy has turned the corner,” said Agency for Workforce Innovation Director Cynthia R. Lorenzo. “While there are still too many Floridians out of work, our economy is clearly heading in the right direction with Governor Scott’s emphasis on job creation and economic development.”