Governor Ron DeSantis announced today that Florida’s economy continues to remain strong and businesses are expanding to Florida, creating a strong private-sector job growth rate. With low taxes, reasonable regulations and a top-rated university system, Florida continues to be the ideal location for new and growing businesses.
Positive economic indicators for the month of May include:
- Florida’s annual private-sector job growth rate of 2.7 percent continues to outpace the national job growth rate of 1.8 percent.
- Florida’s private-sector businesses created more than 208,000 jobs over the year and 16,000 in May 2019.
- A low unemployment rate of 3.4 percent.
- 124,000 people entered the labor force over the year at an annual growth rate of 1.2 percent.
“Businesses are coming to Florida because we support low taxes and reasonable regulations across all industries,” said Governor DeSantis. “We will keep working to develop a resilient, business-friendly environment so every Floridian and their communities may have the opportunity to achieve economic prosperity.”
“Governor DeSantis is ensuring businesses want to come to Florida with low taxes and reasonable regulations,” said Executive Director of the Florida Department of Economic Opportunity Ken Lawson. “This month’s announcement shows the confidence businesses have in our state. We will continue to work with businesses to support a diverse economic environment by prioritizing disaster recovery, community development and workforce training.”
Other positive economic indicators include:
- Private-sector industries gaining the most jobs over-the-year were:
- Education and health services with 46,000 new jobs;
- Professional and business services with 38,400 new jobs;
- Leisure and hospitality with 37,700 new jobs;
- Construction with 28,000 new jobs;
- Financial activities with 21,200 new jobs; and
- Trade, transportation and utilities with 19,900 new jobs.
- Florida job postings showed 289,717 openings in May 2019.
To view the May 2019 jobs report by region, please see below:
To view the May 2019 employment data, click here.