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Florida's jobless rate shoots to 4.3%, highest in 2 years

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Posted at 12:17 PM, Apr 17, 2020
and last updated 2020-04-17 12:17:54-04

ORLANDO, Fla. (AP) — Florida's unemployment rate shot up to 4.3% in March, as coronavirus-induced closures of Florida's theme parks, hotels and large numbers of businesses caused the highest levels of joblessness in almost two years.

It was a dramatic increase from the state's previous month's unemployment rate of 2.8%.

Economists warn that March's preliminary numbers don't capture the extent of the damage caused by business closures.

They say the real jobless situation in Florida won't be reflected until April's numbers.

According to the Bureau of Labor Statistic, the last time Florida's unemployment rate was that high was in May 2017.