Gov. Ron DeSantis announced on Friday that Florida’s unemployment rate for March is 3.2 percent, continuing to remain below the national rate. Florida’s private-sector job growth has also exceeded the nation’s for 12 consecutive months since April 2021.
The state’s total private sector employment increased by 496,600 (+6.5 percent) over the year in March 2022, 1.5 percentage points faster than the national growth rate of 5 percent. In March 2022, Florida’s labor force grew by 3.2 percent (325,000) over the year and grew by 42,000 (+0.4 percent) over the month. As of March 2022, Florida employers have added jobs for 23 consecutive months since May 2020.
“The economic data underscores that Florida is outperforming the nation by protecting the freedom Floridians need to do business and drive economic success,” said DeSantis. “Industries like manufacturing continue to see growth because Florida prioritizes workforce development and expanding opportunities for businesses and families in our state.”
As of March 2022, Florida employers have added jobs for 23 consecutive months. Florida’s private sector over-the-year job growth rate has exceeded the nation’s for 12 consecutive months since April 2021.
Private-sector industries gaining the most jobs over the month were: professional and business services (9,400 new jobs), manufacturing (4,500 new jobs), and financial activities (4,200 new jobs), according to the Department of Economic Opportunity report.
“Governor DeSantis has led Florida in a positive direction by creating the most business-friendly environment in the nation,” said DEO Secretary Dane Eagle. “DEO is committed to supporting the Governor’s efforts and the state’s growth by connecting communities, businesses, and families to the resources they need to thrive.”
Florida reached the pre-pandemic job growth rate in October 2021, and now has 124,700 more private-sector jobs than in February 2020, or 101.6% of the pre-pandemic level. Florida reached pre-pandemic labor force levels in June 2021 and now has 154,000 more Floridians in the workforce than in February 2020, or 101.5% of the pre-pandemic level. Florida employers have maintained or added jobs for 21 consecutive months since May 2020.