12 Mar FLORIDA´S ECONOMY IN 2023
For yet another year, Florida’s economy has stood out for its strength and has once again outperformed the rest of the U.S. states.
Thus, in 2023, while the nation as a whole had an unemployment rate of 3.7% (which for technical purposes is full employment), Florida went further and had a 3% unemployment rate. Conversely, states such as New York, at 4.5%, and California, at 5.1%, showed greater weakness.
Florida’s unemployment rate has been lower than the national average for the past 38 months.
Similarly, Florida led the nation in private sector job growth, with a 2.6% growth rate, up one point over the nation’s average (1.5%) and well above New York State, at 0.6%.
Florida has outpaced the rest of the nation in private job creation for the past 33 months.
During 2023, the state of Florida led the U.S. in the rankings for new business creation, talent attraction and initiative.
Roberto Sanz / President of HOPE, Hispanic Organization for a Prosperous Economy