More Floridians Are Working Than Ever Before
Bottom Line: It’s no secret Florida’s economy continues to knock the cover off the ball. Overall, Florida’s added jobs for 20 straight months and while the state’s unemployment rate is slightly higher than the national average, it's for a good reason. While the country’s overall unemployment rate has decreased in large part due to people who’ve dropped out of the workforce, Florida’s participation rate has risen for fourteen consecutive months and now equals where it was in February of 2020. The month prior to the impact of the pandemic. Given Florida’s population gains – there are now a record number of Floridians, nearly 10.7 million, who’re working. But for as impressive as that is, and for all that Florida’s got going on, the story in South Florida is the best one of all.
The unemployment rates in South Florida don’t just beat the national average, or Florida’s average – we’re blowing them away. In Broward the unemployment rate is a super-low 3.6%. In Palm Beach County the unemployment rate is down to 3.3%. The most impressive story is the state’s largest story. Miami-Dade's unemployment rate has hit a microscopic 1.4%! The bottom line is that if you’re not working in South Florida, it’s probably because you’re not trying. In addition to the remarkably low unemployment rates – there are 550,000 job openings currently posted – or about 15% more available jobs than people currently unemployed. More Floridians are working than ever before and the only thing holding us back is not having as many people looking for work as there are opportunities in our state. Florida continues to be a good news story that keeps getting better.