Florida January Jobless Rate at 2.6 Percent

The Florida Department of Economic Opportunity on Monday released a report showing the January jobless rate at 2.6 percent, down from a revised rate of 2.7 percent in December and down from 3.5 percent in January 2022. An estimated 286,000 Floridians qualified as out of work in January from a workforce of 10.855 million.

The workforce grew by 15,000 from December and by 259,000 from January 2022.

Jimmy Heckman, the department’s chief of workforce statistics and economic research, said Florida’s market for finding jobs remains “very strong,” though the overall number of positions advertised has decreased.

“People that are unemployed typically have a very, very quick turnaround for finding jobs,” Heckman said.

The state has about 620,000 recorded job openings, a 7.9 percent reduction from a year ago. But Heckman said current postings are “elevated” over 2019, the last full year before the COVID-19 pandemic disrupted the economy.

The numbers released Monday reflect annual U.S. Department of Labor revisions that are considered more accurate than most other monthly estimates.

Gov. Ron DeSantis said the data showed “the continued strength and success of Florida’s economy.”

“Florida is number one in net migration, tourism and new business formations because we have bucked the elites and forged our own path forward towards success,” DeSantis said in a prepared statement. “We will continue to prioritize policies that support Florida families as they continue to face persistent inflation and national economic headwinds.”

The U.S. Department of Labor reported last week the national unemployment rate ticked up from 3.4 percent in January to an estimated 3.6 percent in February. The increase was due to nearly half a million people rejoining the labor force, while 311,000 positions added to payrolls in February topped expectations.

The Department of Economic Opportunity will release a February rate for Florida on March 24.

Florida was among 15 states and the District of Columbia that saw jobless rates decrease from January 2022 to January 2023, according to Department of Labor numbers released Monday.

New Mexico had the largest percentage-point drop, from 5.4 percent to 3.5 percent. New Jersey went down 1.7 percentage points to 3.4 percent, New York was down 0.9 percentage points to 4.2 percent, California went down 1.0 percentage point to 4.2 percent, and Texas decreased 0.4 percentage points to 3.9 percent.

Among 11 states that swung the other way, Oregon, at 4.8 percent, had the highest increase over the past year, up 1 percentage point.

Most of the recent job gains in Florida and across the nation continue to center on lower-paying retail and hospitality jobs.

From January 2022 to January 2023, leisure and hospitality jobs in Florida led other major sectors. increasing by 101,900 positions, with 16,100 added in the January report.

Next highest year-over-year were in professional and business services, with 80,400 jobs added, and education and health services, up 79,400 jobs.

Construction jobs were up 23,600 from a year earlier but shed 2,400 positions in January amid signs of a slowing housing market.

Among the major metro areas, the January unemployment rate in the Miami-Fort Lauderdale-West Palm Beach statistical area was 2.3 percent, the lowest in the state.

The rate was 2.5 percent in the Jacksonville area, and 2.6 percent in the Orlando, Pensacola and Tampa-St. Petersburg regions.

The highest rates were found in The Villages, Sebring and Homosassa Springs regions, each at 3.9 percent.

The statewide unemployment rate is seasonally adjusted, while the metropolitan statistical area rates are not.