Governor Rick Scott today announced that Florida businesses have created 19,000 private-sector jobs in May and 179,000 in the past year, for a total of 1,539,800 jobs since December 2010. Florida’s annual job growth rate has outpaced the nation for 73 of the past 74 months. The only month that Florida did not exceed the nation was due to Hurricane Irma. In May, Florida’s unemployment rate dropped to 3.8 percent, a drop of 7.0 percentage points since December 2010; this drop is faster than the national decline of 5.5 percentage points.
Governor Scott said, “Florida’s growing economy is producing real results for families across our state. Every month, private-sector businesses are adding jobs, dropping our unemployment, making it easier for every Floridian to find great work. When I became Governor, I set out to create an environment where our private sector could flourish – and that remains my focus as we continue to outpace the nation. It’s clear – cutting taxes and investing in what matters to families works, and the rest of the country should take notice.”
Florida’s annual job growth rate of 2.4 percent continues to exceed the nation’s rate of 1.9 percent. In the past year, 124,000 people entered Florida’s labor force, a growth of 1.2 percent, which is greater than the national labor force growth rate of 1.1 percent.
Cissy Proctor, Executive Director of the Florida Department of Economic Opportunity, said, “Florida’s economy is thriving under Governor Scott’s leadership and through our efforts to grow and attract businesses. Our talented workforce and quality infrastructure support continued economic prosperity in the Sunshine State. Since 2010, more than 1.5 million jobs have been created showing the nation that Florida is the best state in the nation to live the American Dream.”
Other positive economic indicators include:
- Private-sector industries gaining the most jobs over-the-year were:
- Professional and business services with 39,200 new jobs;
- Leisure and hospitality with 37,200 new jobs;
- Construction with 31,300 new jobs;
- Education and health services with 24,500 new jobs; and
- Financial activities with 17,200 new jobs.
- Florida job postings showed 242,546 openings in May 2018.
- Consumer Sentiment is 100.6, up from 70.2 in 2010.
To view the May 2018 employment data, click here.