|TALLAHASSEE, Fla. – Today, Secretary Dane Eagle announced that Florida’s May 2022 employment data demonstrates the strength of Florida’s economy. Florida employers added jobs for the 25th consecutive month in May. Florida’s unemployment rate has remained below the national rate for 18 consecutive months and has declined or held steady for 22 consecutive months. The over-the-year labor force growth rate in May was 3.0 percent (+313,000) exceeding the national growth rate of 2.2 percent and Florida’s labor force grew by 0.5 percent (+49,000) over the month, also outpacing the national over-the-month growth rate of 0.2 percent. Florida’s over-the-year private sector job growth rate has exceeded the nation’s for 14 consecutive months indicating strong, sustainable growth for Floridians.
“Our state’s continued success is a testament to Governor DeSantis’ efforts to create a brighter future for Floridians,” said DEO Secretary Dane Eagle. “DEO is committed to supporting the Governor’s initiatives and bringing the state’s economic vision to life.”
Florida’s over-the-year private sector growth rate was 5.9 percent in May and Florida’s unemployment rate decreased by 1.9 percentage points over the year to 3.0 percent, and continues to remain below the national rate, which is currently 3.6 percent.
The state’s total private sector employment increased by 459,500 (+5.9 percent) over the year in May 2022, 0.8 percentage point faster than the national growth rate of 5.1 percent. Florida’s over-the-year private sector job growth has also exceeded the nation’s for 14 consecutive months since April 2021.
Data in the month of May continues to indicate that there are many job opportunities available for Floridians throughout the state, with more than 499,000 jobs posted online. Floridians in search of work and new job opportunities are encouraged to turn to the CareerSource Florida network for help. Floridians can find guidance on how to register with Employ Florida and search listings of available local job openings. Career seekers also can improve their employability by perfecting resume writing and interviewing skills, establishing career goals, and pursuing customized career training. These services are provided at no cost to job seekers.
Florida Economic Indicators for May 2022 include:
· Unemployment rate has remained steady at 3.0 percent, and 0.6 percentage point lower than the national rate.
· Florida’s statewide unemployment rate has been lower than the national rate for 18 consecutive months since December 2020.
· Florida’s statewide unemployment rate has declined or held steady for 22 consecutive months.
· Between May 2021 and May 2022, Florida’s labor force grew by 313,000, or 3.0 percent, faster than the national labor force growth rate of 2.2 percent over the year.
· Between May 2021 and May 2022, total private sector employment grew by 459,500 jobs (5.9%), faster than the national private sector job growth rate of 5.1 percent over the year.
· As of May 2022, Florida employers have added jobs for 25 consecutive months since May 2020. Florida’s private sector over-the-year job growth rate has exceeded the nation’s for 14 consecutive months since April 2021.
· Private sector industries gaining the most jobs over the month were:
· Professional and Business Services with 8,600 new jobs.
· Manufacturing with 4,300 new jobs.
· Leisure and Hospitality with 2,300 new jobs.
· Trade, Transportation, and Utilities with 1,800 new jobs
To view the May 2022 jobs reports by region, please see below:
West Palm Beach
To view the May 2022 employment data, visit: www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.
Visit Florida Insight for more information on labor market and economic data. Additionally, the Department has provided a video to assist users in explaining the data provided through Florida Insight.