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Gov. Scott: Florida Businesses Created Nearly 14,000 Private-Sector Jobs in November

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Gov. Scott: Florida Businesses Created Nearly 14,000 Private-Sector Jobs in November

Unemployment Rate Remains at 10-Year Low of 3.6 Percent

NAPLES, Fla. — Today, Governor Rick Scott announced that Florida businesses created nearly 14,000 private-sector jobs across the state in November. The state’s unemployment rate also remained at a 10-year low of 3.6 percent. Since December 2010, Florida businesses have created 1,465,800 jobs. Florida’s annual job growth rate of 2.5 percent continues to exceed the nation’s rate of 1.6 percent.

 Governor Scott said, “I am proud to announce that Florida’s unemployment rate is at a 10-year low and that nearly 14,000 jobs were created for families across the state last month. As we near the end of the year, it is important to reflect on how far our state has come and how we must continue to fight every day to build on this success. Over the past seven years, we have turned around Florida’s economy which has allowed us to make record investments in education, transportation and environmental protection. I look forward to kicking off 2018 by working to continue cutting taxes, supporting job creation and education opportunities, and doing all we can to help secure Florida’s future for every family. Florida is a national leader in job creation and the rest of the nation should follow our lead.”

As of November, Florida’s unemployment rate had dropped 7.1 percentage points since December 2010, faster than the national decline of 5.2 percentage points. In the last year, 199,000 people entered Florida’s labor force, a growth of 2.0 percent, which is nearly three times the national labor force growth rate of only 0.7 percent.

Cissy Proctor, Executive Director of the Florida Department of Economic Opportunity, said, “Florida is ending the year on a good economic note as the unemployment rate remains at a 10-year low of 3.6 percent and businesses continue to recover from Hurricane Irma. More people are entering the labor force and jobs are being created in diverse industries. The Sunshine State remains the best place for families to live the American Dream.”

Other positive economic indicators include:

  • Private-sector industries gaining the most jobs over-the-year were:
    • Construction with 41,800 new jobs;
    • Professional and business services with 41,000 new jobs;
    • Trade, transportation and utilities with 33,500 new jobs;
    • Financial activities with 15,500 new jobs; and
    • Education and health services with 15,200 new jobs.
  • Florida job postings showed 254,611 openings in November 2017.
  • In November, Florida’s 24 regional workforce boards reported 16,990 Floridians, including 944 veterans, were placed in jobs.

To view the November 2017 employment data visit www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

Gov. Scott: Florida’s GDP Outpaces All Other Large States

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Florida Leads Large States in Private-Sector Job Growth

Governor Scott announced today that Florida’s Gross Domestic Product (GDP) grew 3.0 percent in 2016, faster than the national rate of 1.5 percent and outpacing all other large states, including Texas and California. Governor Scott also announced today that Florida added jobs at a faster rate than the 10 largest states in the nation in the last year. Florida had the third-fastest annual private-sector job growth rate out of all the states in the nation, behind Nevada and Utah. For 61 consecutive months, Florida’s private-sector job growth rate of 2.9 percent has outpaced the nation’s.
Governor Scott said, “I am proud to announce that Florida is out performing all other large states in both private sector job growth rate and GDP growth. This great news is further proof that our economy is booming and we must stay focused on continuing this growth so Florida can out compete other locations for jobs wins. While it is disappointing that the Legislature did not fully fund Florida’s economic development programs, we will keep fighting to make sure Florida businesses keep growing.”
Since December 2010, Florida businesses have created 1,355,700 private-sector jobs. In the last year, Florida added 36,600 new jobs in the trade, transportation, and utilities industry, the most of any state. The state had the second-highest over-the-year job gains among all states in the construction, manufacturing, financial activities and professional and business services industries. Florida’s 2016 real GDP was $815.1 billion, the fourth-largest in the nation. In the fourth quarter of 2016, Florida’s GDP grew 0.8 percent (3.1 percent annualized).
Cissy Proctor, Executive Director of the Florida Department of Economic Opportunity, said, “Florida’s focus on business-friendly policies has allowed the state to soar past our competitor states’ job growth rates. Our state’s increase in GDP is another positive indicator of the success we are seeing all across Florida. Businesses are growing, jobs are being created, and this would not have happened without the Scott Administration’s focus on our economy.”
Florida’s gross domestic product is the measure of the market value of all final goods and services produced within the state in a given time period. A final product is one that is produced and sold for consumption or investment. GDP excludes intermediate goods, which are goods that are used to produce other goods. GDP is presented in both nominal and real dollars. Real GDP removes the influence of changing price or inflation. GDP is important because it is the most closely watched measure of output. It is a measure of overall economic activity.