Florida & Palm Beach County’s Unemployment Rate – July 2023
Bottom Line: Good news never gets old, and we’re continuing to see Florida’s economy, which has been the national growth leader since the initial impact of the pandemic, power forward. Florida’s unemployment rate most recently stands at 2.6%, a full point lower than the national average, which means if you’re out of work it’s 38% easier to find a job here than it is across the country. Florida’s rate of job growth has also been 36% faster than the national average as well. Florida’s economy has been firing on all cylinders. In the Palm Beaches the story is similar, though not quite as strong as the state’s overall growth over the past year.
The West Palm Beach metro’s unemployment rate stands at 3.1% with job growth of 2% year-over-year, a rate that’s 11% faster than the national average. Locally, education and health services have added the most jobs, followed by leisure and hospitality jobs.
A total of 291,100 private sector jobs have been added in Florida over the past twelve months and Florida now has 32 consecutive months of economic outperformance compared with the national economy. Florida remains one of the top destinations for employment opportunity in the country, easily performing the best of any large state, and Palm Beach County remains one of the top destinations for opportunity not just in Florida, but the country overall.