Florida Governor Rick Scott today announced that the statewide unemployment rate for August 2013 dropped to 7.0 percent. This is down from 7.1 percent in May, June, and July 2013, and down 4.1 percentage points since December 2010. The statewide unemployment rate has remained below the national average of 7.3 percent for the sixth consecutive month. Florida has created 365,500 private sector jobs since December 2010.
Governor Scott said, “Today’s announcement is great news for Florida families as the state’s unemployment rate dropped to 7.0 percent in August. Since December 2010, the unemployment rate has dropped 4.1 percentage points and Florida has created 365,500 new private sector jobs. This is evidence that our pro-growth and business friendly policies are working.”
Since December 2010, Florida’s statewide unemployment rate has dropped 4.1 percentage points, from a rate of 11.1 percent to August’s rate of 7.0 percent. In the same timeframe, the national unemployment rate has dropped 2.0 percentage points, demonstrating Florida’s improving economic climate continues to outpace the national recovery. Florida’s unemployment rate has now declined year-over-year for 34 consecutive months.
More Jobs Being Created
· Florida experienced positive annual job growth for 37 consecutive months.
· Florida’s job growth month-to-month has been positive for 23 of the last 26 months.
· Florida has created 365,500 new private sector jobs since December 2010.
· Florida is expected to create almost 1.1 million new jobs by 2018, according to the Florida Economic Estimating Conference.
· Florida job postings compiled by the Help Wanted OnLine data series from The Conference Board showed 266,467 openings in August 2013 (seasonally adjusted). Florida had the largest over-the-month gain of all states, up 11,644 openings. Florida had the fourth highest number of openings in the nation compared to all states.
Home Sales Robust
· Home sales remain robust as the backlog of existing homes on the market is down by 23 percent from August 2012 (Florida Realtors).
· Florida median home prices were up 18.6 percent over the year in August 2013.
Economic Growth Trends Up Across State
· A recent U.S. Census Survey reported that Florida experienced an influx of people moving into the state. Florida also led the nation in migrations from Puerto Rico.
· Florida is running a trade surplus of over $24 billion – with $86.8 billion in exports and $62.4 billion in imports in 2011, up from $73.1 billion in exports in 2010 and $53.2 billion in imports in 2010.