Palm Beach County’s unemployment rate for May fell slightly to 14.1 percent, a month after reaching a record high of 14.2 percent.
Unemployment in Florida broke another record in May, climbing to 14.5 percent. The increase is a nearly one point jump from April and well above the national rate of 13.3 percent, according to the latest monthly reports released today by the Florida Department of Economic Opportunity.
Palm Beach County’s unemployment rate for May fell slightly to 14.1 percent, a month after reaching a record high of 14.2 percent. The year-ago rate for May was 3.1 percent, according to the latest monthly reports released today by CareerSource Palm Beach County and the Florida Department of Economic Opportunity.
Outside of the Great Depression, the county’s previous highest unemployment rate reached nearly 12 percent during the so-called Great Recession in summer 2010. The county’s former record low unemployment rate — 2.7 percent — is a very distant memory although it occurred just five months earlier in February.
Other measures of improvement in the county:
— Total non-agricultural employment in Palm Beach County increased to 569,900 in May from 551,900 in April.
— Labor force in the county increased to 682,852 in May up from 653,719 in April. This measure indicates that there are more people working and looking for work compared to last month.
Job orders at CareerSource Palm Beach County increased to nearly 2,700 in May compared to less than 400 in April.
The rate of those filing for unemployment benefits is slowing.
Today’s reports show 118,000 unemployment and reemployment assistance claims applicants from Palm Beach County and more than 1.4 million applicants processed statewide by the Florida Deptartment of Economic Opportunity to date out of more than 2.5 million submitted claims since March 15.
“We are cautiously optimistic with the slight improvement following one of the worst months in labor market history,” said Julia Dattolo, interim president and CEO of CareerSource Palm Beach County, the nonprofit organization chartered by the state to lead workforce development in Palm Beach County.
Virtual Career Expo June 25: CareerSource Palm Beach County is holding a Virtual Career Expo on Thursday, June 25 in partnership with Palm Beach Tech help connect job seekers with employers that have immediate hiring needs. Participants can connect with tech talent and hiring managers LIVE and apply for open positions. More information is available at: https://www.premiervirtual.com/event/register/careersourcepbc