Governor Ron DeSantis announced a remarkable increase in Florida’s private sector job growth rate for January 2024, setting the state well ahead of national averages. This growth not only underscores Florida’s economic resilience but also highlights the effectiveness of its growth-friendly policies.
A Strong Start to the Year
January saw Florida’s private sector job growth rate climb by 0.4 percent, translating to an addition of 37,900 jobs. This rate is notably double the national growth rate of 0.2 percent for the same period. Such performance is indicative of the economic stability and confidence prevalent among Florida’s workforce. Moreover, the state experienced a significant boost in its labor force, growing by 2.2 percent (or 243,000 individuals) over the year, outpacing the national rate of 0.8 percent. This includes the addition of 16,000 net new workforce participants in January alone.
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Governor DeSantis credited this achievement to Florida’s strategic approach to fostering an environment conducive to economic growth. He emphasized the state’s fiscal stewardship, limited government spending, and one of the lowest tax burdens per capita in the nation as key factors contributing to these results.
“Florida has started off the year strong by growing jobs at twice the national average. Florida continuously outperforms the national economy with fiscal stewardship, growth friendly policies, limited government spending, and one of the lowest tax burdens per capita in the nation,” said Gov. DeSantis.
Secretary of Commerce J. Alex Kelly echoed the Governor’s sentiments, attributing Florida’s economic momentum to its commitment to supporting both jobseekers and job creators, thus keeping the state ahead of inflationary pressures.
Sector-Wise Growth and Opportunities
The education and health services sector led the way in January, adding 9,700 jobs. The leisure and hospitality sector also saw a significant uptick, adding 9,400 jobs, followed by the professional and business services sector with 7,500 jobs. These gains are part of a broader trend of robust economic performance, with revised data from 2023 showing that Florida’s economy exceeded original estimates.
Florida’s hospitality industry, in particular, has thrived following the implementation of the state’s historic E-Verify law. Contrary to skeptics’ predictions, the law has not hindered the growth of the hospitality sector. Instead, it underscores that robust legal employment practices can coexist with a flourishing industry.
Additionally, Florida’s unemployment rate continues to remain below the national average for the 39th consecutive month, with the national unemployment rate at 3.7 percent in January 2024, 0.6 percentage points higher than Florida’s.
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With over 405,000 jobs posted online in January, the state ensures that ample job opportunities are available for Floridians. Through the CareerSource Florida network, individuals seeking employment can access a wide range of no-cost services, including job listings, resume writing and interviewing skills workshops, career goal setting, and customized career training, further supporting the state’s workforce development initiatives.
For those interested in the January 2024 job reports by region, detailed information is available for Fort Lauderdale, Jacksonville, Miami, Orlando, Pensacola, Southwest Florida, Tampa, and West Palm Beach.
