Florida’s economy is strong and resilient, says DEO

Toni Koraza

While the world grapples with economic woes, Florida seems to know something others don't. The economy is strong and inviting. Opportunities seem to be everywhere.

Florida is the land of opportunity

Department of Economic Opportunity (DEO) Secretary Dane Eagle said in a statement that Governor Ron DeSantis’ Freedom First policies are working, despite the nation’s economic uncertainty.

“Our economy is steady and resilient — proof that Gov. DeSantis’ freedom-first policies are working, despite the nation’s economic uncertainty,” said Eagle, who noted more people are settling in Florida as compared to any other state in the country.

“We are first in the nation for net migration because their families can thrive here, (and) DEO is committed to supporting the Governor in advancing the economy by focusing on the state’s workforce, businesses, and communities.”

According to DeSantis, Florida has the lowest unemployment rate among the ten largest states in America because the state has “encouraged workforce development, kept the economy open, and put Florida families first.”

The Sunshine State's unemployment rate remained at 2.7% until the end of August, according to the Bureau of Labor Statistics. That is a full percentage point higher than the 3.7% national average for unemployment.

Additionally, Florida has seen an increase in business growth with nearly 1.53 million new businesses opening their doors since January 2020. These figures outperform California, which came in second with 250,000 fewer business openings during the same time period.

For 25 months running, Florida's overall unemployment rate has either decreased or remained stable. Since December 2020, Florida's unemployment rate has been lower than the national average for 21 of those months.

Accordingly, the state’s labor force has increased. Private sector employment rose by more than 493,000 jobs (5.6%), outpacing the national rate of 4.6%. In August alone, Florida gained 49,000 jobs, a 0.5% increase.

How do you feel about Florida's economy?

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