Florida – Governor Ron DeSantis has recently shared an update on Florida’s economic performance. He announced that the state’s unemployment rate has consistently remained lower than the national average for an impressive 40 consecutive months. As of February 2024, while the national unemployment rate edged up to 3.9%, Florida’s unemployment remained steady at a rate that is 0.8 percentage points lower than the national rate. Florida’s private sector job growth rate in February 2024 saw an increase of 2.3 percent, translating to an addition of 194,200 jobs over the year. This rate of growth not only surpasses the national average of 1.6 percent but also highlights Florida’s role as a leader in job creation and economic expansion. According to Florida officials, this achievement is a testament to the state’s thriving economy and the opportunities it offers to its residents.
Florida’s Formula for Success
“Florida continues to outperform the nation,” Governor DeSantis remarked, attributing this success to “bold, conservative leadership” that has resulted in more jobs, lower taxes, reduced regulation, and enhanced fiscal security. This approach, according to DeSantis, is a direct contributor to the state’s booming economy.
Adding to the governor’s enthusiasm, J. Alex Kelly, Florida’s Secretary of Commerce, highlighted the state’s economy as ripe with opportunity and poised for future growth. Kelly pointed to Florida’s “strong talent pipeline and skilled workforce” as key drivers of the state’s economic expansion and stability. “February’s economic data is more absolute evidence that Florida is on the right path,” Kelly added.
A Closer Look at Job Growth
Florida’s labor force has experienced significant growth, increasing by 2.0 percent or 217,000 individuals, in February 2024 alone. This growth rate surpasses the national average, further solidifying Florida’s position as an economic powerhouse.
The education and health services sector led the way in job creation, adding 57,500 jobs over the year. The trade, transportation, and utilities sector was not far behind, with an additional 48,300 jobs. The leisure and hospitality sector, crucial for Florida’s tourism-driven economy, also saw substantial growth, with 35,000 new jobs.
For Floridians looking for employment or seeking new job opportunities, the state offers a resources for help, as more than 443,000 jobs were posted online in February 2024 alone. Through the CareerSource Florida network, job seekers can access a range of services, including assistance with registering with Employ Florida, navigating job listings, resume writing, interview preparation, establishing career goals, and pursuing customized career training—all at no cost.
For those interested in detailed employment data, February’s job reports are available for various regions, including Fort Lauderdale, Jacksonville, Miami, and more. This comprehensive data, along with additional labor market insights, can be found on Florida’s official job website and Florida Insight.
