Florida’s Unemployment Rate Remains Lower Than the National Rate

Florida’s Unemployment Rate Remains Lower Than the National Rate for 44 Consecutive Months

TALLAHASSEE, Fla. – Today, FloridaCommerce announced that Florida’s unemployment rate has remained lower than the national rate for 44 consecutive months. Florida was recently named the #1 economy by CNBC for the 2nd consecutive year. In June 2024, Florida’s statewide unemployment rate holds at a low 3.3%, while the national unemployment rate climbed to 4.1%.

Florida is one of the world’s strongest economies:

#1 economy in the nation by U.S. News & World Report and CNBC.
#1 in new business formations with more than 3 million formed since 2019 and more than 321,000 formed already in 2024.
AAA credit rating.
With an annual GDP of nearly $1.6 trillion, Florida is equivalent to the 16^th largest economy in the world.

“Under Governor DeSantis’ leadership Florida has become the blueprint for economic success and the most business-friendly state in the nation,” said Florida Secretary of Commerce J. Alex Kelly. “Florida has been ranked the number one economy for the second year and continues to lead the nation in new business formations, proving that Florida is the best place for businesses and families to grow and thrive.”

Florida’s economic data continues to indicate economic strength and stability as the state’s total private sector employment grew by 172,700 jobs (2.0%) over the year since June 2023. Faster than the national private sector job growth rate of 1.5% over the same time period.

In June 2024 the professional and business services sector gained the most jobs among all major industries adding 6,000 jobs (+0.4%) from the previous month, followed by education and health services, adding 5,500 jobs (+0.4%). Florida’s labor force grew by 66,000 (+0.6%) over the year since June 2023.

Job creators continue to demonstrate great confidence in Florida’s economic ecosystem through their investments, creating high-skill, high-wage jobs that make Florida a more competitive state to live and work in. Florida offers hundreds of workforce education and workforce development opportunities for job seekers to gain the skills they need to compete in such an elevated and more competitive job market, ensuring economic resiliency and success for generations of Floridians to come.

Data in the month of June continues to indicate there are many job opportunities available for every Floridian who wants to work, with more than 394,000 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.

To view the June 2024 jobs reports by region, please see below:

To view June 2024 employment data, visit: www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

Visit Florida Insight for more information on labor market and economic data. Additionally, FloridaCommerce has provided a video to assist users in explaining the data provided through Florida Insight.