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This Week's Poll



12-27-19

Florida unemployment historic 3.1 low


Staff Reports


According to a release from the Governor’s office last week, Florida’s unemployment rate dropped to a low 3.1 percent, a historic low, recorded only twice in more than 40 years and the first time since March 2006. Also, in November, the labor force increased for the sixth consecutive month. Over the year, Florida businesses created 201,700 private-sector jobs and the state’s annual private-sector job growth rate of 2.6 percent continues to outpace the national job growth rate of 1.6 percent.


“Florida continued to experience positive economic indicators throughout 2019, including a consistently low unemployment rate,” said Governor DeSantis. “Though we have had a successful year, the state of Florida will not rest on our laurels. My administration is committed to the success of this state and all Floridians.”


Additionally, the Florida Department of Economic Opportunity (DEO) has worked with the Florida Talent Development Council on creating a strategic plan that develops a coordinated, data-driven, statewide approach to meeting Florida’s needs for a 21st-century workforce that employers and educators use as part of Florida’s talent supply system. These are just a few of the investments this administration has made to focus on creating the perfect conditions for building a talented workforce for Florida’s future.


The Governor requested the Florida Legislature fund the Florida Job Growth Grant Fund to provide funding for job training and public infrastructure projects that support growth and employment in Florida.


Executive Director of the Florida Department of Economic Opportunity Ken Lawson said, “Maintaining business-friendly policies, investing in Florida’s infrastructure and developing a workforce for the 21st century makes sense, and businesses throughout the nation are paying attention.”


Other positive economic indicators include:


•    Private-sector industries gaining the most jobs over-the-year were:


◦    Education and health services with 62,300 new jobs;


◦    Leisure and hospitality with 38,100 new jobs;


◦    Professional and business services with 33,600 new jobs;


◦    Construction with 26,700 new jobs;


◦    Trade, transportation and utilities with 17,400 new jobs; and


◦    Financial Activites with 11,900 new jobs.


•    Florida job postings showed 284,849 openings in November 2019


•    Consumer Sentiment Index is 99.3 in November 2019.