Wells Fargo: Florida positioned for job gains
September 18, 2020 - Florida is making good progress recouping jobs lost earlier this year from the business lockdowns caused by the Covid-19 pandemic, according to Wells Fargo Securities. Florida employers added almost 58,000 workers to payrolls during August, the fourth consecutive monthly gain, a report issued Friday by Wells Fargo said. The state lost nearly 1.2 million jobs between February and April, and has since regained 631,600 jobs, the report said. The state's unemployment rate in August was 7.4 percent, down 4 percentage points from July. Jobless claims, while still high, also are dropping, Wells Fargo said. Florida could see hiring pick up in the coming months as the state draws vacationers from the Midwest and the Northeast, but those visitors also could re-accelerate Covid-19 case growth, Wells Fargo said.