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Workforce Impact under COVID-19
In March 2020, the global COVID-19 pandemic began to make its way through Southwest Florida, adversely impacting the labor market in the five-county region. In this section we present findings from data provided by the Bureau of Labor Statistics, the U.S Department of Labor, and the Florida Department of Economic Opportunity.
Florida Unemployment Rate by Gender
The unemployment rate for Florida, broken down by gender, can be found in Chart 3-12. Prior to the beginning of COVID19, unemployment rates for both males and females were around the same level (2.7 and 3.1 percent in February 2020, respectively). The unemployment rates for both genders increased substantially between March and June 2020, with the females having a higher unemployment rate (14.2 percent) compared to males (12.4 percent). Since the peak experienced in June 2020, unemployment rates have come down for both genders, with females having an unemployment rate of 5.7 percent and males registering at 5.5 percent in May 2021.
Florida Unemployment Rate by Race
The unemployment rate for Florida, broken down by race, can be found in Chart 3-13. Note that reliable labor force data in the Current Population Survey was only available for the white and black populations. The unemployment rate for the black population in Florida has historically been higher than the overall unemployment rate, reporting a 6.3 percent rate in February 2020 (compared to an unemployment rate of 2.3 percent for the white population). Unemployment rates for both races rose between March and June 2020, with the black population having an unemployment rate of 17.1 percent, compared to 12.6 percent for the white population. Both races saw a decline in the unemployment rate between June 2020 and February 2021, but the unemployment rate for the black population has increased each month between February 2021 and May 2021, measuring at 9.7 percent for the latter month.
Florida Unemployment Rate for Hispanic Population
The unemployment rate for Florida, broken down between the Hispanic and non-Hispanic populations, can be found in Chart 3-14. The unemployment rates for both the Hispanic and non-Hispanic populations were near the same level between January 2019 and February 2020, with the non-Hispanic population having an unemployment rate of 3.1 percent (compared to 2.3 percent for the Hispanic population). Between March 2020 and June 2020, the unemployment rates for both groups rose, with the Hispanic and non-Hispanic populations having an unemployment rate of 15.6 percent and 12.2 percent, respectively. The rates for both groups have trended downward since June 2020, with the Hispanic population having an unemployment rate of 6.6 percent in May 2021, while the non-Hispanic population had a 5.1 percent unemployment rate during the same month.
Florida Unemployment Rate by Age
The unemployment rate, broken down by age groups, can be found in Chart 3-15. Prior to the pandemic, the unemployment rates for the population between 16 and 25 years old was typically higher than the rest of the population, with an 8 percent unemployment rate in February 2020. While unemployment rates for all age groups increased substantially between March and June 2020, the 16 to 25 age group had the largest increase, rising to 27.8 percent in June 2020. The unemployment rate fell during the following months, but still remains at 10 percent as recently as May 2021.
The unemployment rate, broken down by educational attainment groups, can be found in Chart 3-16. The unemployment rate for the population without a high school diploma was higher than the rest of the population prior to the pandemic, with an unemployment rate of 8.0 percent in February 2020. All education groups saw a rise in the unemployment rate between March and June 2020, but the less than high school diploma group had the largest increase, rising to 25.8 percent in June 2020. The unemployment rate for all groups has fallen since June 2020, but the less than high school diploma group had an unemployment rate of 9.3 percent in May 2021.
