In a city known for its hot weather, a lack of job openings and the low demand for workers in many of the city’s big cities are leading to a dearth of jobs, even in a city where the unemployment rate is at 6.5 percent.
“The economy is not really on track for sustained job growth, and that’s really the crux of the issue, and we need to make sure we’re doing everything we can to make it happen,” said David Ritter, president of the Greater Orlando Chamber of Commerce.
A recent survey of nearly 1,000 adults found that only one in three respondents have a job that pays more than $50,000 a year.
Job openings are scarce, too, with only one-third of workers with full-time positions saying they are hiring.
In Orlando, where unemployment is at 5.4 percent, the unemployment number has increased from 5.2 percent in March to 6.6 percent this month, according to the latest data from the Florida Department of Labor.
More: What Orlando can learn from other cities The jobless rate in Orlando has risen to 10.4%, the highest in the state, and is higher than in other major cities, including Detroit, Cleveland and Pittsburgh.
The city has been struggling for years with an unemployment rate of more than 10 percent, according the U.S. Bureau of Labor Statistics.
The unemployment rate in Miami, Florida, is nearly 11.2%.
Orlando, which has the third-highest unemployment rate, has experienced an increase of just 0.7 percentage points since the recession officially ended in January 2009.
“What we’re seeing here is the worst recession of any major city, and it’s also one of the largest,” said Mark Zandi, chief economist at Moody’s Analytics.
“I don’t think there’s any question that the economy is doing better now than it was during the recession.
The big question is how much better.
I don’t know that we can predict.”
Orlando, the most populous city in the United States, is a destination for a large number of companies and investors.
But Orlando also has seen some major challenges.
It has long struggled with a housing shortage that’s fueled the city and many of its suburbs.
The housing shortage is exacerbated by the recent death of longtime local developer James and Anne Stokes.
The Stokeses, who built and now own many of Orlando’s homes, are believed to have had the largest single source of financial assistance to Orlando residents.
A state judge ruled in June that the Stokes family could not receive any financial assistance for the Stoses’ home in Orlando.
Moody’s analysts said the Stitches were likely responsible for driving up the city-wide foreclosure rate, which now stands at more than 3.7 percent.
Moody also said the foreclosure rate is more than double the national average, and the Sticts have yet to pay off their loans.
The foreclosure rate has skyrocketed since the Stikes’ death.
The average cost of a home in the Orlando metro area has risen by nearly $500,000 since January, the analysts said.
The rate of foreclosures has risen as the economy has struggled.
More than 3 million people have been put on notice in recent years to move out of the Orlando metropolitan area.
Orlando has struggled to lure people to the area and have to be careful to do so in order to maintain jobs, Moody’s said.
“We’re seeing a large percentage of the population moving out of Orlando, but in order for us to maintain a large job base, we have to do it carefully,” said Michael Stoltz, chief executive officer of the American Association of Realtors.
Stolttz said the area’s housing shortage could be one of three factors that are driving the foreclosure rates.
The first is that the city has seen an influx of foreign workers, primarily from China, who have taken jobs at some of the larger, mid-size companies, which have helped drive up the cost of living in the city.
The second is the high cost of housing, which is a result of a number of factors, including low-paid work that has left many job seekers unemployed.
The third factor is that there is an under-reporting of foreclosed properties in Orlando by local real estate agents, which may be affecting the rate of foreclosure in the area, Stolty said.
Orlando’s unemployment rate was 10.2% in March.
The City of Orlando has long been struggling to attract workers.
In 2008, Orlando had the third highest unemployment rate among metro areas in the country, according a report from the Bureau of Economic Analysis.
More from New York magazine Orlando, Florida: What to know about the city in 10 seconds Orlando, Fla., is a city that has long had a job crisis.
The last time unemployment in the county reached that level was in 1997, according official figures.
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