Record inflation, trouble on Wall Street, a hemorrhaging bond market … And a wave of corporate layoffs to start off 2023 …
Today, Governor Ron DeSantis announced Florida’s unemployment rate dropped to a historic 2.7 percent in July as the state’s job creation skyrocketed. Florida’s July 2022 unemployment rate is the lowest since February 2020 and this level has only been reached three times since Florida began recording unemployment data in 1976.
The Federal Reserve will probably have to inflict much more pain on the economy to get inflation under control. Growth is already slowing in response to the Fed’s repeated interest rate increases, with the housing market softening, technology companies curbing hiring and unemployment claims edging up.