Florida jobless rate hits 16-year low

Florida’s unemployment rate fell 0.1 percentage point to 2.5% in December, the lowest level since 2006, the state Department of Economic Opportunity reported Friday.

In the private sector, employment increased 0.2 percentage point, or 18,000 jobs, from November. On a year-over-year basis, private sector jobs increased 5.3%, or 425,800, while the state’s labor force increased 3.5%, more than double the national growth rate of 1.6%.

“Florida continues to outpace the nation and withstand negative headwinds due to federal policy,” Gov. Ron DeSantis said in a statement. “I look forward to building off our success with record tax relief in the upcoming legislative session.”

Even after enduring two hurricanes late last year, December data indicates many job opportunities are still available in the state, with over 442,000 openings posted online last month.

Florida’s population rose to 22.2 million last year, as it remained the third largest state in the nation behind California and Texas.

Florida also experienced the largest net migration of any state last year, ranking it as the fastest growing state in the nation with a growth rate of 1.9%. Florida has seen positive population growth every year since 1946.

The Miami area unemployment rate fell to 1.4% in December, down 1.6 percentage points on a year-over-year basis.

The Miami area gained the second-highest number of private-sector jobs in the state over the year in December, rising 5.8%, or by 62,900 jobs. The Miami area labor force increased 1.8%, or by 23,648 jobs, on the year.

In 2022, Miami metro led the state in job gains in trade, transportation and utilities, education and health services, manufacturing and financial services.

The Jacksonville area unemployment rate fell to 2.1% in December 2022, down from 2.6% in December 2021. The Jacksonville area had the fastest private-sector year-over-year job growth in the state in December.

The Jacksonville area added 42,300 new private sector jobs on the year, a 6.3% gain. The Jacksonville area labor force also grew 5%, or by 40,702 bonds over the year.

The industries gaining the most jobs over the year were professional and business services and leisure and hospitality.

The Orlando area jobless rate fell to 2.3% last month, down from 3.2% in December 2021. The Orlando area added 49,900 new private-sector jobs over the year, an increase of 4.1%. The Orlando area labor force also grew 2.0%, or by 40,470 over the year.

The industry gaining the most jobs was leisure and hospitality, increasing by 27,100 on the year.

In Southwest Florida, which was hit by Hurricane Ian late last year, the Fort Myers area saw an all-time high level of job openings.

Employers in the Fort Myers area reported a total of 300,100 available jobs, more than at any time before Ian’s landfall, the DEO said.

The Fort Myers area saw its unemployment rate rise in December to 2.9% from 2.7% a year earlier. The Naples area, also hit hard by Ian, saw its jobless rate fall by 0.1 percentage point on an annual basis to 2.2%.

The Fort Myers area industries gaining the most jobs over the year were education and health services and construction. The Naples area industries seeing the most job gains on the year were construction and education and health services.