State unemployment hits four-decade high

Florida hit an 11% statewide unemployment rate in September, the worst since October 1975, according to the Florida Agency for Workforce Innovation. The rate increased slightly from 10.8% in August, and is at least four percentage points higher than a year ago. About a million people are out of work in a labor force of 9.2 million, the agency said. Director Cynthia Lorenzo said the latest unemployment figures confirm that the economic downturn continues to impact a significant number of Floridians and businesses. However, a reduction in employers announcing closing or large-scale layoffs is a positive sign of Florida’s growing economic stability, she added. [GlobeSt]