Posted by Sponsored Post Posted on 17 February 2023

Florida’s Unemployment Rate Drops and Remains Below the National Average

Despite many people claiming that they are having a hard time finding a job, not only are there more employment opportunities in Florida, but the rate of unemployment also dropped. In recent months, Florida’s unemployment rate decreased and was able to remain below the national average. 

The Florida Department of Economic Opportunity published information about the new statistics, showing a decrease not only from previous months but also from previous years. The new data reveals that Florida maintained the strength of its economy. 

September’s Rate Drop

Back in October, Governor Ron DeSantis came out with an announcement, saying that the unemployment rate in Florida dropped to 2.5 percent in September. According to him, this rate is the lowest recorded in the history of the state, but also the lowest since October 2006. 

Florida seems to have a booming economy, proven not only by the decrease in unemployment over time but also by the high amount of job positions. In September 2022 alone, the number of jobs in the private sector grew by 47,500. This is a 0.6 percent improvement, and an increase of 0.4 percent from the 0.2 percent national growth rate. 

Besides, the state had a 1.6 percent growth in annual rate in the second quarter of the year, thus having the second fastest Gross Domestic Product boost in the country. 

In September 2022, the national labor force decreased, while the labor force in Florida grew by 8,000. 

Governor Ron DeSantis praised the economy of Florida, stating that it keeps getting better than the national average. According to him, people who live in Florida keep finding more and more jobs, while businesses are getting more successful. And despite the issues faced after Hurricane Ian, the state was able to maintain its economic and fiscal policies, helping Florida recover faster. 

A Small Rise in Unemployment Rate, Followed by Another Drop

Florida’s unemployment rate remained low ever since, staying below the national average. 

In December, Governor Ron DeSantis announced the new unemployment rate for November. The rate went to 2.6 percent, slightly higher than in September, yet remaining under the national average. 

In November 2022, Florida saw an increase in private-sector employment, with 28,100 more jobs becoming available. This increases the rate of private sector employment by 0.3 percent. 

Governor Ron DeSantis once again applauded the economy of the state and how it’s been outpacing the nation for a very long time. He has faith that Florida’s workforce will only get better in the new year and that it will be able to maintain low unemployment rates. 

Following the small rise in the unemployment rate from November, December once again brought a rate drop, going to 2.5%. This rate came as companies are still having a hard time filling their positions. 

Not only is this rate lower than the previous month, but it is also lower than in December 2021, when the unemployment rate was 3.5%. 

December marks the 25th consecutive month that Florida’s unemployment rate was maintained below the national average. For over two years now, the state was successful in keeping this rate low and improving its workforce. 

Florida businesses are advertising for 442,000 available positions. Meanwhile, 271,000 people are unemployed in the state. 

Between December 2021 and December 2022, the workforce in Florida advanced by 361,000 people. From November to December, 9,000 more positions were filled. Also, 93,000 positions were filled in total from December 2021 to December 2022. 

One of the most successful sectors was the leisure and hospitality one. Although it suffered a lot during the pandemic, it saw 88,600 more positions between December 2021 to December 2022. 

At the same time, the national unemployment rate in December was sitting at 3.5%. This shows that 5.7 million people qualify as unemployed. Compared to last year, the rate is slightly lower, as it dropped by 278,000 people from the previous year. 

President Joe Biden went to Twitter to talk about unemployment rates and the economy of the States. He said that this is the lowest unemployment rate the country has had in 50 years, which was all achieved under his plan to improve the economy. 

Final Thoughts

Florida’s unemployment rates remain low, even though many people are still unemployed, and some people lost their jobs. If you work in Florida and you’re treated unfairly or lose your job without being given a solid reason for that, you can seek Florida employment attorneys. They will make sure your rights are protected.

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