Florida Executive Office of The Governor issued the following announcement on Nov. 19.
Governor Ron DeSantis announced that Florida continues to make economic progress with more job growth, labor force increases, and a decline in the unemployment rate. The steady economic growth that Florida is witnessing is thanks to successful policies that put Floridians and businesses first. Florida’s economy continued to thrive in October 2021, with 18 consecutive months of private-sector job growth, adding 44,300 jobs over the month and increasing by 5.7% over the year. Florida has also experienced 12 consecutive months of labor force increases with a growth of 29,000 over the month. Florida’s labor force growth represents a 5.8% increase over the year, which is significantly higher than the national rate of 0.5%. Florida’s unemployment rate, currently at 4.6%, also decreased by 0.2 percentage points from the revised September 2021 rate of 4.8%.
In total, Florida has gained 1,111,000 private sector jobs since April 2020, which represents 89% of jobs lost during the pandemic that have been recovered. Florida continues to see significant increases in labor force, growing 579,000 over the year as Floridians gain confidence in returning to work. Florida’s unemployment rate has lowered over the year, decreasing by 1.2 percentage points. Data in the month of October indicates that there continue to be many job opportunities available for Floridians throughout the state, with more than 518,000 jobs posted online.
“Florida’s economy continues to grow faster than the nation because we put the needs of Floridians and businesses first and make smart policy decisions that push back against heavy-handed mandates,” said Governor Ron DeSantis. “With 18 consecutive months of job growth and 12 consecutive months of labor force increases, we will continue to make investments that move our economy forward.”
“Florida continues to see job growth, increases in labor force, and a decline in unemployment rate thanks to Governor DeSantis’ policy decisions to protect Floridians and their jobs,” said Secretary Dane Eagle of the Florida Department of Economic Opportunity. “Floridians and businesses remain confident in the state’s economy, and as evidence of that confidence, Florida’s current participation in the labor force of 10,590,000 is actually larger than Florida’s February 2020 labor force of 10,461,000.”
Florida Economic Indicators for October 2021 include:
- Unemployment rate is 4.6%.
- September 2021 unemployment rate revised to 4.8%, down from 4.9%.
- Florida businesses gained 44,300 private-sector jobs over the month.
- Labor force was up 29,000 over the month, bringing the October 2021 total up to 10,590,000.
- Florida’s labor force growth represents a 5.8% increase over the year compared to 0.5% nationally.
- Florida’s private-sector employment increased by 424,300, or 5.7%, over the year, higher than the national rate of 4.5%.
- Florida’s over the month private-sector job growth rate was 0.6%, higher than the national rate of 0.5%.
- Private-sector industries gaining the most jobs over the month were:
- Leisure and Hospitality with 16,600 new jobs
- Trade, Transportation, and Utilities with 10,400 new jobs
- Education and Health Services with 6,600 new jobs
- Other Services with 4,200 new jobs
- Professional and Business Services with 3,700 new jobs
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