Job growth in Florida speeds past national rate

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Florida Construction News staff writer

Florida’s private sector job growth rate increased by 0.5 percent (+42,800 jobs) in July 2023, five times faster than the national rate of 0.1 percent over the same period. Economic data shows the labor force grew by 2.6 percent (+280,000) over the year in July 2023, faster than the national over-the-year rate of 1.9 percent.

“For the last four years, Florida has led the nation with more than 2.5 million new businesses formations and over 1 million Floridians joining the workforce,” Gov. Ron DeSantis said in a statement. “Florida’s success is the direct result of freedom first policies that support business owners and job seekers along with record investments in workforce education and infrastructure that spur economic growth.”

The state’s unemployment rate was 2.7 in July 2023, marking 33 consecutive months below the national unemployment rate of 3.5 percent and fourteen consecutive months as the lowest among the nation’s 10 largest states.

42,800 private sector jobs in July – the largest gain in private sector jobs since September 2022 and Florida’s 12th highest month of growth over the last 33 months.

“Under Governor DeSantis’ leadership, Florida continues to lead the nation in supporting all key foundations for the success of job seekers and job creators alike, and the Florida approach continues to show the nation how to best give confidence to job seekers and job creators,” said Secretary of Commerce J. Alex Kelly. “This month’s economic data is further proof that Freedom First policies – such as record investments in workforce education, modern infrastructure and workforce housing – are investments in opportunities for businesses and families alike.”

The labor force grew by 42,000, Florida’s 6th highest month of growth over the last 33 months. To view the July 2023 jobs reports by region, please see below:

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