Today, Governor Ron DeSantis announced Florida’s unemployment rate dropped to a historic 2.7 percent in July as the state’s job creation skyrocketed.
Florida’s July 2022 unemployment rate is the lowest since February 2020 and this level has only been reached three times since Florida began recording unemployment data in 1976. Florida’s private sector employment grew by an outstanding 70,000 in July 2022, doubling the nation’s job growth rate over the same period. Before July 2022, Florida has reached this level of over-the-month job creation only 6 other times since data began to be collected in 1990.
Florida’s labor force also grew over the month in July 2022, while the national labor force shrank for the second consecutive month. July 2022 employment data demonstrates that Floridians are continuing to enter the workforce and businesses are continuing to create jobs.