Florida Governor Ron DeSantis announced that the states unemployment rate dropped to 2.6 percent — the lowest among the nation’s top ten largest states and 1.1 percent lower than the nation’s.
November marks two consecutive years – 24 straight months – that Florida’s unemployment rate has remained below the nation’s.
Florida also continued to exceed the national job growth rate for the 20th consecutive month in November 2022.
Florida’s private sector employment increased by 28,100 jobs over the month in November 2022, an increase of 0.3 percent.
Florida’s total private sector employment increased by 5.2 percent (+420,700 jobs) over the year in November 2022, faster than the national private sector job growth rate of 3.6 percent over the same time period.
Florida employers have added jobs for 31 consecutive months in November 2022.
“Florida’s continued success over the past two years is no accident. No matter the challenges, we have stayed on offense,” said Governor Ron DeSantis. “Florida’s economy is outpacing the nation for the second consecutive year because we have invested in our workforce and prioritized keeping Floridians at work and businesses open. As the new year approaches, we will continue investing in our workforce and infrastructure to create jobs and keep our economy moving forward.”
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“While D.C. liberals and blue states are still exacerbating their self-inflicted inflation and supply chain woes, Governor DeSantis has continued his charge for Freedom First policies, and as a result Florida is literally hedging against a recession, growing its workforce, supporting new businesses and innovation, and leading the nation’s economic recovery,” said DEO Secretary Dane Eagle. “People vote with their feet, and folks are running to the free state of Florida as fast as they can.”
In November 2022, Florida’s labor force grew by 7,000 (+0.1 percent), while the national labor force declined by 0.1 percent over the month. Florida’s labor force grew by 352,000, or 3.4 percent, over the year in November 2022, more than double the national labor force growth rate of 1.5 percent over the same time period. In November 2022, Florida’s labor force participation rate was 59.5 percent, down 0.1 percent over the month, but up 1.0 percent over the year.
The leisure and hospitality sector gained the most jobs among all major industries — a great sign for an industry that is often the most reactive to challenges like hurricanes — adding 9,600 jobs (+0.7 percent) over the month, followed by education and health services adding 6,200 jobs (+0.4 percent) and construction adding 5,400 jobs (+0.9 percent).
Data in the month of November continues to indicate there are many job opportunities available for Floridians throughout the state, with more than 455,000 jobs posted online. Floridians in search of work and new job opportunities are encouraged to turn to the CareerSource Florida network for help.
Floridians can find guidance on how to register with Employ Florida and search listings of available local job openings. Career seekers also can improve their employability by perfecting resume writing and interviewing skills, establishing career goals, and pursuing customized career training. These services are provided at no cost to job seekers.
Florida Economic Indicators for November 2022 include:
- Unemployment rate is 2.6 percent, 0.1 percent lower than the previous month’s rate and 1.1 percent lower than the national rate of 3.7 percent.
- Florida’s statewide unemployment rate has been lower than the national rate for 24 consecutive months since December 2020.
- Between November 2021 and November 2022, Florida’s labor force grew by 352,000, or 3.4 percent. This was faster than the national labor force growth rate of 1.5 percent over the year.
- Between November 2021 and November 2022, total private sector employment grew by 420,700 jobs (+5.2 percent), faster than the national private sector job growth rate of 3.6 percent over the year.
- As of November 2022, Florida employers have added jobs for 31 consecutive months since May 2020. Florida’s private sector over-the-year job growth rate has exceeded the nation’s for 20 consecutive months since April 2021.
- Private sector industries gaining the most jobs over the month were:
- Leisure and Hospitality with 9,600 new jobs.
- Education and Health Services with 6,200 new jobs.
- Construction with 5,400 new jobs.