Labor Secretary: ‘Hard to say’ if Hurricane Ian will impact Florida’s unemployment rate

The unemployment rate in Florida has been among the lowest in the country before Hurricane Ian – which rocked the state as a Category 4 storm – wreaked havoc, destroying homes and businesses and displacing many Floridians.

The U.S. Department of Labor Secretary Marty Walsh says it’s “hard to say” if there will be an impact on the unemployment rate in the coming months. ​

Brian Gendreau, a Clinical Professor of Finance at the University of Florida’s Warrington College of Business, said that while short-term impacts can be devastating to impacted areas, in the long term, there’s typically an increase in construction activity, which can spur employment.

Read more insights from Gendreau in this story from Spectrum News.