TALLAHASSEE, Fla. — Governor Ron DeSantis has announced that Florida's unemployment rate dropped to 2.7% in July, making it the lowest since February 2020.
The national unemployment rate was 3.5% for July. Florida’s statewide unemployment rate has been lower than the national rate for 20 consecutive months and has declined or held steady for 24 consecutive months in July 2022, according to DeSantis.
DeSantis also stated this percentage has only been reached three times since Florida began tracking unemployment numbers in 1976.
“Florida continues to outperform the nation because freedom first policies work,” said Governor Ron DeSantis. “July’s job numbers represent one of the largest month’s job gains over the past generation and Florida continues to outpace the nation in labor force growth.”
Florida also reported that private sector employment grew by 70,000 in July.
“July’s employment data speaks for itself — under Governor DeSantis’ leadership, Florida is thriving. July is one of the best months Florida has seen for job creation, representing an achievement the state has only reached seven times in its history,” said DEO Secretary Dane Eagle. “DEO will continue to support Governor DeSantis’ strategic investments in Florida’s residents, businesses, and communities to continue this momentum and keep Florida’s economy strong.”
Per Gov. DeSantis' Office, Florida Economic Indicators for July 2022 include:
- Unemployment rate is 2.7 percent, down 0.1 percentage point from the previous month’s rate and 0.8 percentage point below the national rate of 3.5 percent.
- Florida’s statewide unemployment rate has been lower than the national rate for 20 consecutive months since December 2020.
- Florida’s statewide unemployment rate has declined or held steady for 24 consecutive months.
- Between July 2021 and July 2022, Florida’s labor force grew by 291,000, or 2.8 percent. This was faster than the national labor force growth rate of 1.6 percent over the year.
- Between July 2021 and July 2022, total private sector employment grew by 433,500 jobs (5.5 percent), faster than the national private sector job growth rate of 4.8 percent over the year.
- As of July 2022, Florida employers have added jobs for 27 consecutive months since May 2020. Florida’s private sector over-the-year job growth rate has exceeded the nation’s for 16 consecutive months since April 2021.
- Private sector industries gaining the most jobs over the month were:
- Leisure and Hospitality with 19,500 new jobs.
- Professional and Business Services with 16,400 new jobs.
- Education and Health Services with 12,800 jobs.
