TALLAHASSEE, Fla. – Aug. 11, 2016 – After a debilitating recession from 2007 to 2009 that cost thousands of people their jobs, Florida is again among the national leaders in job creation at the halfway mark of 2016, according to the latest Economic Commentary by Florida TaxWatch. And most housing industry experts say that job increases are one of the best predictors of a strong housing market.
The nonpartisan taxpayer research institute found that Florida's total non-farm employment grew 3.03 percent over the past 12 months; the state has added approximately 244,500 non-farm jobs and Florida's overall employment is among the highest in the state's history.
Through the first six months of 2016 alone, Florida has added 113,000 non-farm jobs and has seen its unemployment rate drop to 4.7 percent from 5.1 percent.
Nearly all non-farm industries in Florida have seen their employment numbers increase.
Over the past 12 months, the professional and business services sector led the state's major industries in job growth, adding 48,400 jobs. Other industries like education and health services, leisure and hospitality, and construction also saw significant employment gains.
"Florida is once again the best state in the country to find a job," says Florida TaxWatch President and CEO Dominic M. Calabro. "We continue to outpace the nation in job growth and, over the last six months, 113,000 Floridians have gotten back to work, providing for their families and contributing to the economy."
"Florida continues to shine as one of the best places in the nation for consistent, strong economic growth," says Florida Department of Economic Opportunity Executive (DEO) Director Cissy Proctor. "The unemployment rate is at an eight year low, and our GDP (gross domestic product) is again outpacing other large states and the nation. At DEO, we are committed to working with our partners around the state to invest in our future economic growth and ensure new job opportunities for Floridians."
The full mid-year jobs report can be read in this month's Florida TaxWatch Economic Commentary.
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