Florida’s Unemployment Rate Lower Than the National Rate For 40 Consecutive Months
TALLAHASSEE, Fla.—Today, Governor Ron DeSantis announced a milestone in Florida’s continuing economic success: Florida’s statewide unemployment rate has been lower than the national rate for 40 consecutive months. The national unemployment rate rose to 3.9 percent for February 2024; Florida’s rate did not rise and outperforms the national rate by 0.8 percentage point. And while Florida’s private sector job growth rate increased by 2.3 percent (+194,200 jobs) over the year in February 2024, the national rate grew by only 1.6 percent over the same period.
“Florida continues to outperform the nation,” said Governor Ron DeSantis. “We have proven that bold, conservative leadership across the board produces booming economic results—more jobs, lower taxes, less regulation, and fiscal security.”
“Under Governor DeSantis’ leadership, Florida continues to provide an economy for our residents that is primed for opportunity and secure for future growth,” said J. Alex Kelly, Florida Secretary of Commerce. “Florida’s strong talent pipeline and skilled workforce are the building blocks of Florida’s economic growth and stability. February’s economic data is more absolute evidence that Florida is on the right path.”
Florida’s economic data continues to indicate economic strength and confidence among Florida’s workforce as the state’s labor force grew by 2.0 percent (+217,000) over the year in February 2024, which is faster than the comparable national rate of 0.7 percent.
The education and health services sector gained the most jobs among all major industries, adding 57,500 jobs over the year. The trade, transportation, and utilities sector performed second best, adding 48,300 jobs. And importantly, leisure and hospitality (tourism) added 35,000 jobs.
Data in the month of February continues to indicate there are many job opportunities available for every Floridian who wants to work, with more than 443,000 jobs posted online. Floridians in search of work and new job opportunities can utilize 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 can also improve their employability by enhancing resume writing and interviewing skills, establishing career goals, and pursuing customized career training. These services are provided at no cost to job seekers by the State of Florida.
To view the February 2024 jobs reports by region, please see below:
To view the February 2024 employment data, visit: https://www.floridajobs.org/workforce-statistics/workforce-statistics-data-releases/monthly-data-releases.
Visit Florida Insight for more information on labor market and economic data. Additionally, the Department has provided a video to assist users in explaining the data provided through Florida Insight.