Gadsden County's unemployment rate could shift as Floridas minimum wage increases to $14 an hour, with potential benefits for job seekers but challenges for local employers facing higher labor cost Economic experts highlight the mixed effects of the wage hike, which may encourage more job participation but could also result in fewer hires. Watch the video to learn more.BROADCAST TRANSCRIPT: As Florida's minimum wage reaches $14 an hour, the impact of this wage increase could be felt in Gadsden County. While the new wage offers a boost for workers, it also presents challenges for local employers. As the county navigates this shift, questions remain about whether it will lead to more job opportunities or create new hurdles for businesses struggling with higher labor costs.Gadsden County's unemployment rate currently stands at 3.9%, according to the latest U.S. Census Bureau data. However, with the states ongoing minimum wage increases, that figure could soon change.In 2020, Florida voters passed Amendment 2, which set a plan to gradually raise the minimum wage to $15 an hour for non-tipped workers and $11.98 for tipped employees by 2026. On January 1, 2021, the state began implementing $1 increases annually, with that trend continuing until September 30, 2026.Trish Yahn, a local expert from CareerSource Capital Region, which helps connect job seekers with employment opportunities, sees both positive and negative aspects of the wage hike. Certainly, the wage increase can help from the job seeker side, but it can also be a deterrent on the employer side, as they may hire fewer people, said Yahn.However, Yahn remains optimistic about the potential benefits for Gadsden County residents. She believes the wage increase could keep more workers in the county.I do think that there are a lot of people who want to work in Gadsden County, and the minimum wage may help get them to work in this county versus going to Leon County to work, Yahn explained.T.J. Lewis, the Economic Development Director for Gadsden County, echoed similar thoughts about the potential effects of the wage increase.With more participation, you may see unemployment rates rise because more people will be trying to take advantage of higher wages. Right now, fewer people are actively looking for jobs, which results in a lower unemployment rate, Lewis said.Lewis also highlighted the economic challenges many Gadsden County residents face, particularly those living paycheck to paycheck. For these individuals, the wage increase could be a lifeline, offering a chance for financial stability and a little more room to breathe.We're hoping that with more money coming, they can certainly make those obligations with little to spare, Lewis said.According to the U.S. Census Bureau, 21.5% of Gadsden County residents were living below the poverty line as of 2023. For many of these individuals, the wage increase is more than just a raise; it represents an opportunity to better manage their financial obligations and improve their quality of life.