Florida Unemployment Rate Drops to 2.5 Percent, Second Lowest Rate in State Recorded History
TALLLAHASSEE (FLV) – Gov. Ron DeSantis announced that Florida’s unemployment rate dropped to 2.5 percent in the month of September, the second lowest rate in the state’s recorded history and the lowest rate since October 2006.
According to the Florida Department of Economic Opportunity, Florida also had the second fastest Gross Domestic Product (GDP) growth in the nation, growing at an annual rate of 1.6 percent in the second quarter of 2022 while the national GDP has declined for two consecutive quarters.
Florida’s private sector employment increased by 47,500 jobs over the month in September 2022, an increase of 0.6 percent and 0.4 percentage point faster than the national growth rate of 0.2 percent.
Florida’s labor force grew by 3.0 percent over the year in September 2022, a full percentage point faster than the national labor force growth rate of 2.0 percent.
Over the month, Florida’s labor force increased by 8,000 in September 2022 while the national labor force shrank.
“Florida’s economy continues to outpace the national average- Floridians are finding jobs, and our state’s businesses are thriving. As we continue to support Southwest Florida communities in their recovery from Hurricane Ian, a resilient economy is paramount,” said DeSantis.
“With inflation still surging due to federal policies and with Southwest Florida recovering from Hurricane Ian, Florida has maintained sound fiscal and economic policies that will help us mitigate these challenges.”
To view the September 2022 employment data, click here.
