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THE UNEMPLOYMENT RATE IN FLORIDA
Comparisons with prior economic cycles show that the recession which commenced in 2007 is more severe and will likely last longer that than prior recessions. From 2000 to 2007 Florida’s booming economy had a lower unemplyment rate than the US as a whole. Since 2008 Floridas unemployment has been higher than the US. The unemployment cycle has been reflected in the values of commercial real estate which peaked at the end of 2006 when unemployment was at it lowest and the values of commercial real estate in Florida fell as unemployment increased.
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