TALLAHASSEE, Fla. (WTXL) — An uncertain economic outlook and rising unemployment numbers are creating concerns for workers and businesses across North Florida.
- The latest federal jobs report shows warning signs for workers across the country and here in North Florida.
- A local economist breaks down what rising unemployment could mean for families and small businesses in the Big Bend.
- Watch the video below to learn more about the latest unemployment data.
Rising unemployment reaches 4-year high as some North Florida workers face economic uncertainty
BROADCAST TRANSCRIPT:
New data from the U.S. Bureau of Labor Statistics show the national unemployment rate has climbed to 4.6% last month, the highest level in more than four years.
While the economy added about 64,000 jobs in November, job growth has slowed significantly over the past several months.
To understand what this means for neighbors here at home, I spoke with Dr. William Christiansen, an associate professor of finance at Florida State University, about how families and small businesses can navigate this slowdown.
“There are certain sectors of the economy where the labor market is stronger, like healthcare is an example of strength. I would say to be very careful in your spending and to be able to check and then follow the economy, follow what is happening in the labor market in your particular area,” Christiansen said.
Federal and state labor data show Leon County and the Tallahassee metro area with unemployment rates near 4.7%, higher than the statewide average of 3.9%.
Christiansen says uncertainty around inflation, interest rates, and some federal policies are causing some employers to pull back.
That matters in North Florida, where small and mid-sized businesses drive much of the local economy.
Christiansen says the outlook calls for caution not panic and advises workers to stay informed, watch local job trends, and plan ahead as the labor market continues to adjust.
Want to see more local news? Visit the WTXL ABC 27 Website.
Stay in touch with us anywhere, anytime.
