FloridaCommerce Announces that Florida’s Private Sector Job Growth Continues to Outpace the Nation in August

FloridaCommerce Announces that Florida's Private Sector Job Growth Continues to Outpace the Nation in August

~ Florida highlights record investments for job seekers and job creators during Workforce Development Month ~

TALLAHASSEE, Fla.-Today, FloridaCommerce announced that Florida's private sector job growth continues to surpass the national average, with a growth rate of 2.1% over the year since August 2023, compared to the national rate of 1.4% over the same time period. This success is attributed to Florida's strategic investments in workforce education and development, driving high-demand, high-wage jobs that benefit both job seekers and employers.

Florida's statewide unemployment rate is 3.3%, nearly one percentage point lower than the national rate of 4.2% and has been lower than the national rate for 46 consecutive months. Florida employers have added jobs in 50 of the last 52 months, and Florida's over-the-year private sector job growth rate has exceeded the national rate for 41 consecutive months.

"Under Governor DeSantis' leadership, Florida's economy and workforce continue to strengthen," said Florida Secretary of Commerce J. Alex Kelly. "In 2019, Governor DeSantis committed to making Florida number one in workforce education by 2030, and Florida has got its homework done early, earning the #1 ranking for talent development in 2022 and 2023 by Lightcast, and investing more than $8.5 billion in discretionary workforce education and job training investments, fueling high-skill, high-wage job growth, building a successful and diverse economy that will benefit Floridians for generations to come."

In August 2024 the leisure and hospitality sector gained the most jobs among all major industries, adding 7,300 jobs (+0.6%) from the previous month. This was followed by education and health services, which added 3,900 jobs (+0.3%). Florida's labor force grew by 7,000 (+0.1%) over the year since August 2023.

Governor Ron DeSantis has proclaimed September as Workforce Development Month. Since 2019, Florida has invested more than $8.5 billion in workforce education.

These investments include:

• Nearly $400 million invested in workforce and infrastructure for the semiconductor industry since 2022.
• More than $200 million for the creation and expansion of Florida Career and Technical Education programs through the Workforce Development Capitalization Grant Program.
• More than $257 million was awarded through the Florida Job Growth Grant Fund to promote public infrastructure and workforce education opportunities.

Florida's support of Career and Technical Education (CTE) programs have led to:

• A 45% increase in registered apprentices.
• A 40% increase in apprenticeship and preapprenticeship programs.
• A 110% increase in apprenticeable occupations.

Florida continues to rank:

• #1 in talent development.
• #1 in higher education.
• #1 economy in the nation by U.S. News & World Report and CNBC.
  
• #1 in new business formations, with more than 3.2 million formed since 2019 and 424,144 formed already in 2024.
• With an annual GDP of nearly $1.6 trillion, Florida would be the 16^th largest economy if it were a country.

Job creators continue to demonstrate great confidence in Florida through their investments, creating high-skill, high-wage jobs. Florida offers hundreds of workforce education and workforce development opportunities for job seekers to gain the skills they need to compete in such an elevated and more competitive job market, ensuring economic resiliency and success for generations of Floridians to come.

Resources for Job Seekers:

• Florida's Labor Exchange Marketplace, Employ Florida, connects job seekers to employment, training and education, and also job creators to skilled talent.
• CareerSource Florida 's network local career centers offer tailored career counseling, skills assessments, resume assistance and job placement support.
• Apprentice Florida is a partnership built between the Florida Department of Education, FloridaCommerce and CareerSource Florida to expand apprenticeship programs across the state.
• Veterans Florida works to help military veterans transition to civilian life - connecting veterans with employers who are eager to hire veterans for jobs that align with the skills their gained serving in the military.
• The Military Family Employment Advocacy Program delivers priority workforce services to active-duty military spouses and family members through Military Family Employment Advocates located in local career centers throughout Florida.

Data in the month of July continues to indicate there are jobs available for every Floridian who wants to work, with more than 405,000 jobs posted online. Floridians in search of work and new job opportunities can utilize the CareerSource Florida network for help. Floridians can find guidance on how to register with Employ Florida and search listings of available local job openings. Career seekers also can improve their employability by perfecting resume writing and interviewing skills, establishing career goals, and pursuing customized career training. These services are provided at no cost to job seekers.

To view the August 2024 jobs reports by region, please see below:

To view August 2024 employment data, click here.

Visit Florida Insight for more information on labor market and economic data. Additionally, FloridaCommerce has provided a video to assist users in explaining the data provided through Florida Insight.

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