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Unemployment Hits 11.8%

January 22nd, 2010 by Mike Vasilinda

Floridas unemployment rate is now 11.8%, a full one point eight percent higher than the nation rate. Florida lost 232,400 jobs over the last year, and Decembers unemployment rate is the highest since May 1975 when it was 11.9 percent.

If there is a bright spot in the numbers, it is that job losses have slowed, from a negative five point four percent in March 2009 to a negative three point one percent in December 2009.

There are now 1,087,000 jobless out of a labor force of 9,180,000, but what the numbers do not take into account is the tens of thousands of people who have stopped looking for work.

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