Governor Rick Scott today announced that Florida businesses created more than 10,000 private-sector jobs in January. Since December 2010, Florida businesses have created nearly 1.5 million jobs, which includes more than 144,000 in the last year. Florida’s annual job growth rate of 1.9 percent continues to exceed the national rate of 1.7 percent. Florida’s annual job growth rate has exceeded the nation for 69 of the past 70 months. The only month that Florida did not exceed the nation was a result of Hurricane Irma. Jobs numbers for February 2018 will be announced on March 23rd.
Governor Scott said, “I am proud to announce that Florida businesses kicked off 2018 by creating more than 10,000 new jobs for families across the state in January. Each new job means a family is able to provide for themselves and continue to succeed in our state. That is why we have worked nonstop to make Florida more business friendly by reducing burdensome regulations and cutting taxes. This includes putting a constitutional amendment on the 2018 ballot that will make it harder for politicians to raise taxes on future generations so our progress cannot be undone. We look forward to seeing the many more opportunities that will be created throughout the year as more job creators choose to grow in Florida.”
As of January, Florida’s unemployment rate is at 3.9 percent, a drop of 6.9 percentage points since December 2010. This drop is faster than the national decline of 5.2 percentage points. In the last year, 137,000 people entered Florida’s labor force, a growth of 1.4 percent, nearly one and a half times the national labor force growth rate of only 0.9 percent, which means more Floridians are choosing to look for a job across the state.
Cissy Proctor, Executive Director of the Florida Department of Economic Opportunity, said, “Florida businesses have created more than 10,000 jobs in January alone thanks to Governor Scott’s commitment to lowering taxes and business-friendly policies, which allow companies to grow and prosper in our state. I am proud of the Sunshine State’s flourishing economy, making our home the greatest place to live, work, play and raise a family.”
Other positive economic indicators include:
- Private-sector industries gaining the most jobs over-the-year were:
- Professional and business services with 36,000 new jobs;
- Leisure and hospitality with 32,400 new jobs;
- Construction with 28,600 new jobs;
- Education and health services with 17,100 new jobs;
- Financial activities with 15,000 new jobs;
- Florida job postings showed 261,619 openings in January 2018; and
- Florida’s housing market also remains strong as median home prices rose $20,000 across the state in the last year. The statewide median sales price for single-family existing homes in January 2018 was $240,000, up from the previous year’s median price of $220,000. The increase in home prices and the number of homes sold resulted in an additional $500 million in home sales, up 10.9 percent from January 2017.
To view the January 2018 employment data, click here.