Florida’s Labor Force and Private Sector Employment Maintains Steady Growth While National Unemployment Rate Increases
TALLAHASSEE, Fla. — Today, Governor Ron DeSantis announced Florida’s unemployment rate remained strong at 2.7 percent, the lowest unemployment rate among the nation’s ten largest states and a full percentage point lower than the national rate of 3.7 percent in August 2022.
Florida also leads the nation in new business formations with 1,534,221 new businesses, outpacing second place California by more than 250,000 new business formations since January 2020. For 25 consecutive months, Florida’s statewide unemployment rate has either declined or remained unchanged, and for 21 consecutive months, since December 2020, Florida’s unemployment rate has been lower than the national rate.
Florida’s labor force continues to see growth, increasing by 49,000, a 0.5 percent increase, over the month in August 2022. Florida’s private sector employment grew by 24,200 in August 2022, at a rate of 0.3 percent, 0.1 percentage point faster than the national growth rate of 0.2 percent.
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