Florida’s job growth outpacing nation 2:1

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Florida Construction News staff writer

Florida’s private sector job growth rate increased by 0.4 percent (+37,900 jobs) in January,  double the national rate of 0.2 percent over the same period.

Florida’s economic data continues to indicate economic stability and confidence among the  workforce as the state’s labor force grew by 2.2 percent (+243,000) over-the-year in January, which is faster than the national over-the-year rate of 0.8 percent, including 16,000 net new workforce participants.

“Florida has started off the year strong by growing jobs at twice the national average,” Gov. Ron DeSantis said in a statement. “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.”

The education and health services sector gained the most jobs among all major industries, adding 9,700 jobs from the previous month, followed by a uniquely elevated month for leisure and hospitality (tourism-impacted professions), adding 9,400 jobs; and professional and business services, adding 7,500 jobs. Additionally, revised economic data from 2023 demonstrated that Florida’s economy surpassed original estimates.

Florida’s hospitality industry continues to rise following the implementation of Florida’s historic E-Verify law, ensuring that companies are employing legal citizens. This proves the naysayers wrong. Florida can have universal E-Verify and still maintain a robust hospitality industry. Florida’s statewide unemployment rate has been lower than the national rate for 39 consecutive months.

The national unemployment rate was 3.7 percent for January 2024, 0.6 percentage point higher than Florida’s rate. Data in the month of January continues to indicate there are many job opportunities available for every Floridian who wants to work, with more than 405,000 jobs posted online. Floridians in search of work and new job opportunities can utilize the CareerSource Florida network for help.

To view the January 2024 jobs reports by region click the links below:

To view the January 2024 employment data, visit: floridajobs.org/economic-data

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