On Friday, Governor Ron DeSantis announced that Florida’s June 2022 data indicates that Florida’s unemployment rate dropped to 2.8 percent, despite national economic conditions. Florida’s statewide unemployment rate has declined or held steady for 23 consecutive months through June 2022.
The national unemployment rate remains unchanged over the month at 3.6 percent, 0.8 percent higher than Florida’s rate.
Florida’s labor force grew by 40,000 (+0.4 percent) over the month, while the national labor force shrank by 0.2 percent. In June 2022, Florida’s labor force grew by 293,000 (+2.8 percent) over the year, outpacing the national rate of 1.8 percent by 1.0 percentage point.
“Despite Biden administration policies that have produced record inflation, skyrocketing gas prices, and slowing national GDP, Florida continues to outpace the nation with strong job growth and an increasing labor force” said Governor Ron DeSantis. “Florida’s unemployment rate has remained lower than the nation for 19 consecutive months and is now close to a full percentage point lower than the nation as a whole. June’s data demonstrates once again that our freedom first approach is working for Floridians.”
Florida’s private sector employment continues to show strong and steady growth. As of June 2022, Florida employers have added jobs for 26 consecutive months. Total private employment grew by 5.8 percent over the year, 0.9 percent faster than the national rate of 4.9 percent. Florida’s over-the-year private sector job growth rate has exceeded the nation’s for 15 consecutive months since April 2021.
In addition to Florida’s numbers, DeSantis said the Tampa metro area led all metro areas in job gains over the year in financial activities (+7,000 jobs) and information (+1,900 jobs). The Tampa area also gained the third highest number of private sector jobs of all metro areas in the state, adding 67,600 new private sector jobs over the year, representing a 5.5 percent increase. The Tampa area’s labor force grew by 60,677 over the year in June 2022, a 3.8 percent increase. The Tampa area’s unemployment rate was 2.9 percent in June 2022, a decrease of 1.9 percentage points from the year ago rate of 4.8 percent.