Florida Jobless Rate Stays at 3.1 Percent

By Jim Turner, The News Service of Florida

Florida’s unemployment rate held at 3.1 percent in February for the third consecutive month, even as job losses were posted in many industry sectors.

The unemployment rate held as a growing labor force continues to counter the number of people who are out of work.

The Florida Department of Commerce on Friday estimated 345,000 Floridians qualified as unemployed in February, up 5,000 from January and up 44,000 from February 2023. Meanwhile, the labor force totaled 11.089 million in February, an increase of 12,000 from January and up 217,000 from a year earlier.

The state’s unemployment rate in February 2023 was 2.8 percent.

Jimmy Heckman, the Department of Commerce’s chief of workforce statistics and economic research, said he didn’t see any warning signs in the month-to-month figures, describing job decreases in sectors as a “fluctuation.”

“All of those fields, all of those sectors have gained jobs over the year,” Heckman told reporters in a conference call. “If we look at where we are at the same time last year, all those sectors have added jobs. And we have many sectors that have added jobs at a faster rate than they have nationwide.”

The national unemployment rate was 3.9 percent in February, up from 3.7 percent in January. Gov. Ron DeSantis’ office issued a news release that said Florida’s February rate represented a “milestone” of being lower than the national mark for 40 consecutive months.

Employment in Florida’s leisure and hospitality sector was up by 1,700 positions in February. Employment was up by 2,100 positions in the educational services category, 2,100 positions in the wholesale trade category and 1,200 positions in the transportation, warehousing and utilities category.

But those increases were offset as total private employment fell by 9,400 positions month to month.

As examples, employment in the construction sector fell by 3,200 positions, and the manufacturing sector dropped by 900. Employment was down 4,300 in the financial activities sector, 4,200 in the retail trade category and 3,200 in the health care and social assistance category.

Compared to February 2023, employment in the health care and social assistance category was up 51,600 positions, and leisure and hospitality added 35,000. Employment in the construction sector increased by 21,000 jobs, manufacturing was up 10,500, and financial activities were up 7,100.

The Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area had the state’s lowest unemployment rate in February at 2.5 percent. Other rates included the Orlando-Kissimmee-Sanford area at 3.2 percent; the Tampa-St. Petersburg-Clearwater and Jacksonville areas at 3.3 percent; and the Pensacola-Ferry Pass-Brent area at 3.4 percent.

The Homosassa Springs area had the highest rate at 5.2 percent, while The Villages was at 5.1 percent.

The statewide unemployment rate is seasonally adjusted, while the metro rates are not adjusted.