Florida’s unemployment rate hit an 11-year low in July. The jobless rate inched down a notch to 3.7 percent, according to state figures released Friday, continuing the state’s 10-month run of a sub-4 percent unemployment rate.
"This is one of the big puzzles for economists," Scott Brown, chief economist at Raymond James, said. "How low can it go?"
Brown said the unemployment rate could fall as low as 3 percent in coming months, while University of Central Florida economist Sean Snaith expects the rate won’t go much lower.
Nationally, the unemployment rate was 3.9 percent for July. Florida added 27,400 jobs in July.
Tampa Bay’s July unemployment: 3.8 percent, unchanged from June
• Hillsborough County: 3.8 percent, up from 3.7 percent the previous month
• Hernando County: 4.9 percent, unchanged
• Pinellas County: 3.5 percent, unchanged
• Pasco County: 4.2 percent, unchanged
Metros adding the most jobs over the year:
• No. 1: Orlando, 53,500 jobs
• No. 2: Tampa Bay, 29,900 jobs
• No. 3: Miami, 24,300
Highest over-the-year job gains per sector:
• Leisure and hospitality: 50,400 jobs, up 4.2 percent
• Construction: 38,200 jobs, up 7.5 percent
• Education and health services: 33,700 jobs, up 2.6 percent
Sectors losing jobs over the year:
• Information: 1,200 jobs, down less than 1 percent
• Government: 800 jobs, down less than 1 percent
Contact Malena Carollo at [email protected] or (727) 892-2249. Follow @malenacarollo.