Florida and the United States
Unemployment Rates and Recessionary Periods
January 1974 - May 2017
12
Peak unemployment rate 11.9 percent, May 1975
10
Peak unemployment rate 11.2 percent,
November 2009 - January 2010
• Defense spending declines
• End of the Gulf War
• Airlines deregulation
Recession
Florida
8
United States
6
• 1979 energy crisis
• Tight monetary policy
• Savings and loan collapse
4
• Oil prices
• Housing bubble collapse
• Financial crisis
• IT bubble collapse
• 9/11 events
• Manufacturing outsourcing
2
Source: U.S. Department of Labor, Bureau of Labor Statistics, Local Area Unemployment Statistics Program in cooperation with the Florida Department of
Economic Opportunity, Bureau of Labor Market Statistics. Prepared Jun-2017 (seasonally adjusted).
Jan-17
Jan-16
Jan-15
Jan-14
Jan-13
Jan-12
Jan-11
Jan-10
Jan-09
Jan-08
Jan-07
Jan-06
Jan-05
Jan-04
Jan-03
Jan-02
Jan-01
Jan-00
Jan-99
Jan-98
Jan-97
Jan-96
Jan-95
Jan-94
Jan-93
Jan-92
Jan-91
Jan-90
Jan-89
Jan-88
Jan-87
Jan-86
Jan-85
Jan-84
Jan-83
Jan-82
Jan-81
Jan-80
Jan-79
Jan-78
Jan-77
Jan-76
Jan-75
0
Jan-74
• 1973 oil embargo
• Multi-family housing market collapse
Florida and the United States
Total Nonagricultural Employment Annual Growth Rates and Recessionary Periods
January 1974 - May 2017
14.0
10.0
Recession
8.0
Florida
12.0
United States
6.0
10.0
4.0
2.0
8.0
0.0
6.0
• IT bubble collapse
• 9/11 events
• Manufacturing outsourcing
-2.0
• 1979 energy crisis
• Tight monetary policy
• Savings and loan collapse
-4.0
• Steepest rate of job
decline at -5.8 percent,
July 1975.
-6.0
• Defense spending declines
• End of the Gulf War
• Airlines deregulation
2.0
• Oil prices
• Housing bubble collapse
• Financial crisis
• 1973 oil embargo
• Multi-family housing market collapse
• Steepest rate of job decline
at -7.0 percent, March 2009
Source: U.S. Department of Labor, Bureau of Labor Statistics, Current Employment Statistics Program.
Prepared by: Florida Department of Economic Opportunity, Bureau of Labor Market Statistics, Jun-2017 (not seasonally adjusted).
Jan-17
Jan-16
Jan-15
Jan-14
Jan-13
Jan-12
Jan-11
Jan-10
Jan-09
Jan-08
Jan-07
Jan-06
Jan-05
Jan-04
Jan-03
Jan-02
Jan-01
Jan-00
Jan-99
Jan-98
Jan-97
Jan-96
Jan-95
Jan-94
Jan-93
Jan-92
Jan-91
Jan-90
Jan-89
Jan-88
Jan-87
Jan-86
Jan-85
Jan-84
Jan-83
Jan-82
Jan-81
Jan-80
Jan-79
Jan-78
Jan-77
Jan-76
Jan-75
0.0
Jan-74
-8.0
4.0