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Tuesday, November 29, 2022

Florida added jobs for the 30th month in a row

Governor Ron DeSantis announced that economic data for Florida continues to show strength following the effects of Hurricane Ian.

According to a report published by the government, the economic data for the month of October 2022 highlighted that there was an increase of 36,000 jobs in the labor force and 35,000 were added in the private sector.

Florida private sector employment grew 5.6% year over year in October 20202 (+447,800 jobs), faster than the national growth rate of 4.0%, the report indicates.

jobs

As a result, Florida’s unemployment rate rose 0.2 percentage points to 2.7%, which is still historically low, and remains a full point below the national mark of 3.7 percent. The Department of Economic Opportunity (DEO) and CareerSource Florida continue to provide resources to help Floridians find employment while affected by the hurricane.

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“Florida’s economic resilience is unmatched in the nation – no other state can withstand the direct hit of a Category 4 hurricane and continue to create jobs in the same month”The governor assured.

Data for the month of October indicates that there are many job opportunities available to Floridians across the state, with more than 476,000 jobs posted online.

Florida economic indicators for October 2022 include:

  • The unemployment rate is 2.7%, up 0.2 percentage points from the previous month’s rate.
  • The statewide unemployment rate in Florida has been below the national rate for 23 consecutive months since December 2020.
  • Between October 2021 and October 2022, Florida’s labor force is set to increase by 334,000, or 3.2%.
  • Total private sector employment to increase by 447,800 jobs (+5.6%) between October 2021 and October 2022, faster than the national private sector employment growth rate of 4.0%.
  • The private sector industries which added the maximum number of jobs during the month are:
    • Leisure and hospitality with 14,100 new jobs.
    • Education and health services with 8,200 new jobs.
    • Commerce, transportation and public services with 8,200 new jobs.
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To view employment data for October 2022, visit: www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

Visit Florida Insights to learn more about the job market and economic data. In addition, the Department has provided a video to help users interpret data provided through Florida Insight.

FLGOV

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