Economists Say "Uncertainty" is Stalling Job Growth
Monday, June 18, 2012
By: Tom Parkinson

June 18, 2012 | WMFE - The latest unemployment figures show jobless rates remaining relatively flat for the month of May but the pace of job growth dropped off across the state,

The Orlando Metro Region added about 4,400 jobs in the past year but that’s a gain of less than one percent.

The Florida Department of Economic Opportunity released the figures Friday.

Sean Snaith, an economist at the University of Central Florida, says businesses are very carefully watching the news right now.
The European financial crisis, the American presidential election and the forthcoming U.S. Supreme Court ruling on the new federal healthcare law are all major unknowns. Snaith says t's all combining to create a climate of uncertainty.

“I think in this environment a turtle would pull its head back into its shell and I think businesses would stand pat and not move forward and on projects or in hiring unless they absolutely have to." Snaith said.

The jobless rate in Orlando bumped up by a fraction of a percent from 8.2% to 8.3 %. Statewide, the unemployment rate dropped slightly from 8.7% down to 8.6%.