Issue Brief: Covid-19 Impact on Florida Labor Force
On March 26, 2021, the Florida Department of Economic Opportunity reported that Florida’s seasonally-adjusted unemployment rate was 4.7 percent in February 2021, matching the same unemployment rate the state had January 2017. While an improving unemployment rate is a positive sign for the Florida economy, it does not tell the complete story.
In this Issue Brief, we dive into data from the Bureau of Labor Statistics (BLS) and U.S. Census Bureau to learn more on Covid-19's impact on the Florida labor force.
Main findings from the Issue Brief include:
- Over 200,000 Floridians were prevented from looking for work due to the Covid-19 pandemic in February 2021.
- If these individuals were calculated into the labor force, Florida's labor force participation rate would be 58.9 percent, up 1.4 percentage points from the estimated participation rate from the BLS.
- Florida's unemployment rate is estimated at 7.1 percent if these same individuals are included, up from the 5.3 percent reported by the BLS.
Download the latest Issue Brief for more information.