Make us your home page
Instagram

Florida job growth favorable compared to other states, though income still lags

While Florida's jobless rate in October again fell, this time to a 7-year low of 5.1 percent, it remains a shade higher than the nation's 5.0 percent rate. And it is still higher than the unemployment rates in 26 other states, including eight states with rates under 4 percent, and an additional two with rates under 3 percent.

As state economic recoveries go, Florida's is rebounding well. Just not as robust as some states are doing these days.

Still, there are largely good job-related numbers to report for the Sunshine State versus other states — an important monthly comparative measure to gauge Florida's health. The one glaring exception? Household income.

RELATED: Florida unemployment rate hits 7-year low with spurt in job creation

Let's compare three key numbers, as reported by federal and state agencies:

* 35,200: Florida's increase in October employment. That's second only to California's gain of 41,200 and ahead of No. 3 Ohio at 30,800. Ohio is surging since Texas typically would rank among the top three in monthly job gains.

Texas gained 20,000 jobs in October yet still found that its seasonally adjusted unemployment rate actually rose to 4.4 percent from 4.2 percent in September. That's the second straight monthly uptick for Texas as job creation failed to keep up with the volume of workers moving there from other states.

* 239,900: That's the number of jobs Florida has added in the past 12 months, second in the nation only to California's 463,000 gain in jobs. Texas was No. 3 with 203,900 added jobs in the past year with New York (+164,000) at No. 4 and a close numbers battle thereafter among Georgia (+97,100), Washington (+92,800) and North Carolina (+91,000).

Three states lost jobs in the past year. West Virginia was down 13,700. North Dakota lost 9,700 jobs but still reported the lowest unemployment rate for the month at 2.8 percent. Louisiana also lost a small number of jobs in October.

None of the other five states in the Southeast, all with unemployment rates in the high 5's and low 6 percent range, comes close to Florida's rate of 5.1 percent.

* $47,463: That's Florida's median household income in 2014, the latest annual figure available. That's $6,194 less than the U.S. median household income figure of $53,657.

How does Florida compare with other large population states? In Texas, the median household income is $53,035. In California it is $61,933. And in New York it is $58,878 — all reminders of how much Florida households lag other large states on the income front.

Contact Robert Trigaux at [email protected] Follow @venturetampabay.

Florida job growth favorable compared to other states, though income still lags 11/24/15 [Last modified: Tuesday, November 24, 2015 3:51pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Massachusetts firm buys Tampa's Element apartment tower

    Real Estate

    TAMPA — Downtown Tampa's Element apartment tower sold this week to a Massachusetts-based real estate investment company that plans to upgrade the skyscraper's amenities and operate it long-term as a rental community.

    The Element apartment high-rise at 808 N Franklin St. in downtown Tampa has been sold to a Northland Investment Corp., a Massachusetts-based real estate investment company. JIM DAMASKE  |  Times
  2. New York town approves Legoland proposal

    News

    GOSHEN, N.Y. — New York is one step closer to a Lego dreamland. Goshen, a small town about fifty miles northwest of the Big Apple, has approved the site plan for a $500 million Legoland amusement park.

    A small New York town, Goshen approved the site plan for a $500 million Legoland amusement park. Legoland Florida is in Winter Haven. [Times file  photo]
  3. Jordan Park to get $20 million makeover and new senior housing

    Real Estate

    By WAVENEY ANN MOORE

    Times Staff Writer

    ST. PETERSBURG —The St. Petersburg Housing Authority, which bought back the troubled Jordan Park public housing complex this year, plans to spend about $20 million to improve the 237-unit property and construct a new three-story building for …

    Jordan Park, the historic public housing complex, is back in the hands of the St. Petersburg Housing Authority. The agency is working to improve the 237-unit complex. But the latest plan to build a new three-story building for seniors will mean 31 families have to find new homes. [LARA CERRI   |   Tampa Bay Times]
  4. Coming soon at two Tampa Bay area hospitals: a cancer treatment that could replace chemo

    Health

    A new cancer treatment that could eventually replace chemotherapy and bone marrow transplants — along with their debilitating side effects — soon will be offered at two of Tampa Bay's top-tier hospitals.

    Dr. Frederick Locke at Moffitt Cancer Center in Tampa is a principal investigator for an experimental therapy that retrains white blood cells in the body's immune system to fight cancer cells. The U.S. Food and Drug Administration approved these so-called "CAR-T" treatments for adults this month. In trials, 82 percent of cases responded well to the treatment, and 44 percent are still in remission at least eight months later, Locke said. [CHRIS URSO   |   Times]
  5. Regulator blasts Wells Fargo for deceptive auto insurance program

    Banking

    Wells Fargo engaged in unfair and deceptive practices, failed to properly manage risks and hasn't set aside enough money to pay back the customers it harmed, according to a confidential report by federal regulators.

    Wells Fargo engaged in unfair and deceptive practices, failed to properly manage risks and hasn't set aside enough money to pay back the customers it harmed, according to a confidential report by federal regulators.
[Photo by Spencer Platt/Getty Images, 2017]