Florida’s Economy Continues to Outpace the Nation in 2024

Today, Governor Ron DeSantis celebrated Florida’s private sector job growth rate which increased by 0.4 percent (+37,900 jobs) in January 2024. This is double the national rate of 0.2 percent over the same period. Florida’s economic data continues to indicate economic stability and confidence among Florida’s workforce as the state’s labor force grew by 2.2 percent (+243,000) over the year in January 2024, which is faster than the national over-the-year rate of 0.8 percent, including 16,000 net new workforce participants in January 2024.

“Florida has started off the year strong by growing jobs at twice the national average,” said Governor Ron DeSantis. “Florida continuously outperforms the national economy with fiscal stewardship, growth friendly policies, limited government spending, and one of the lowest tax burdens per capita in the nation.”

In January, the education and health services sector gained the most jobs among all major industries, adding 9,700 jobs from the previous month, followed by a uniquely elevated month for leisure and hospitality (tourism-impacted professions), adding 9,400 jobs; and professional and business services, adding 7,500 jobs. Additionally, revised economic data from 2023 demonstrated that Florida’s economy surpassed original estimates.

Florida’s hospitality industry continues to rise following the implementation of Florida’s historic E-Verify law, ensuring that companies are employing legal citizens. This proves the naysayers wrong. Florida can have universal E-Verify and still maintain a robust hospitality industry.

Florida’s statewide unemployment rate has been lower than the national rate for 39 consecutive months. The national unemployment rate was 3.7 percent for January 2024, 0.6 percentage point higher than Florida’s rate.
  
Data in the month of January continues to indicate there are many job opportunities available for every Floridian who wants to work, with more than 405,000 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 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.