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Unemployment Numbers Decrease in Florida

Last week’s jobless numbers are lower than the previous week around the country, they are also much lower in Florida.

More than three-million more Americans are out of work according to the Labor Department.

According to today’s report, more than 3.1 million workers filed first-time claims for unemployment benefits last week.

That’s half-a-million fewer than the previous week’s total.

More than 33-million U.S. workers have lost their jobs over the past seven weeks. The biggest increases in claims were in Washington, Georgia, New York, Oregon, and Alabama.

The sharpest decreases were in California, Florida, Connecticut, New Jersey, and Pennsylvania.

Florida was most responsible for the big dip in unadjusted numbers, reporting about 260,000 fewer claims over the past week. Maryland reported a jump of 27,337.

At the current pace, the week claims numbers should fall below 1 million by mid-June, according to Ian Shepherdson, chief economist at Pantheon Macroeconomics. “We’re very hopeful that June will see the beginnings of a rebound as states begin to reopen,” Shepherdson said.

The new numbers are a precursor to a monthly jobs report to be released Friday that economists say could show 16% unemployment.

The pace of layoffs is slowing but it’s still increasing even with portions of the economy reopening

The layoffs associated with social distancing practices have wiped out all of the job gains the economy has seen since the recovery from the Great Recession.