North Central Florida Job Market Update | May 2023

In May, unemployment increased by 0.3% to 3.7%, and the number of people unemployed rose by 440,000 to 6.1 million. The unemployment rate has ranged from 3.4% to 3.7% since March 2022. The labor force participation rate was 62.6% during the month, and the employment-population ratio was 60.3%. Following the employment-population ratio, the number of