Florida's jobs market took a spring swoon, but not enough to derail expectations of a continued recovery.
The unemployment rate in May rose slightly from 6.2 percent to 6.3 percent as the state lost a substantial 17,900 jobs, the steepest drop in the country, according to the U.S. Bureau of Labor Statistics.
Year over year, though, Florida still has 218,800 more jobs, up 2.9 percent, the Florida Department of Economic Opportunity reported Friday.
Tampa Bay, meanwhile, saw its jobless rate jump from 5.9 percent to 6.2 percent as it lost 5,900 jobs.
A year ago, Tampa Bay was leading the state among metros in job creation. Now, with 22,700 jobs created year-over-year, it ranks fourth behind Orlando, Miami-Miami Beach and Fort Lauderdale. Jacksonville, up 21,000 jobs since last May, is nipping at its heels.
Economists tracking Florida widely dismissed the May numbers as an off-month that should not hamper the state's slow recovery.
Mekael Teshome, PNC Bank's Florida economist, dubbed the dip "statistical noise… In the overall fundamentals, Florida's economy is gaining momentum"
Read more: Florida unemployment rises to 6.3 percent | Tampa Bay Times
The unemployment rate in May rose slightly from 6.2 percent to 6.3 percent as the state lost a substantial 17,900 jobs, the steepest drop in the country, according to the U.S. Bureau of Labor Statistics.
Year over year, though, Florida still has 218,800 more jobs, up 2.9 percent, the Florida Department of Economic Opportunity reported Friday.
Tampa Bay, meanwhile, saw its jobless rate jump from 5.9 percent to 6.2 percent as it lost 5,900 jobs.
A year ago, Tampa Bay was leading the state among metros in job creation. Now, with 22,700 jobs created year-over-year, it ranks fourth behind Orlando, Miami-Miami Beach and Fort Lauderdale. Jacksonville, up 21,000 jobs since last May, is nipping at its heels.
Economists tracking Florida widely dismissed the May numbers as an off-month that should not hamper the state's slow recovery.
Mekael Teshome, PNC Bank's Florida economist, dubbed the dip "statistical noise… In the overall fundamentals, Florida's economy is gaining momentum"
Read more: Florida unemployment rises to 6.3 percent | Tampa Bay Times
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