Florida Added 32,000 Jobs in October 2014

Did You Know?

Florida job creators added 32,000 private-sector jobs during October, which helped lower the state’s unemployment rate to 6.0 percent.

Low tax, pro-growth policies are making a difference for families. Consider that:

• Nine out of Florida’s 10 major industries saw positive over-the-year job growth in October,
• 59 of Florida’s 67 counties saw their unemployment rate drop, and
• Florida has experienced 56 consecutive months of positive job growth.

Since December 2010, Florida has added 679,000 private-sector jobs, and has dropped its unemployment rate by 5.1 percentage points. In fact, since April 2012, Florida’s annual job growth rate has been better than the national rate.

And more jobs are on the horizon. Projections from the Florida Economic Estimating Conference show that, assuming no significant changes, Florida is forecasted to add approximately 178,000 jobs throughout the coming year.

Florida is not only growing again, but according to Mark Vitner, a Senior Economist with Wells Fargo Securities, it’s doing it the right way. “We’ve made tremendous strides in moving up the value chain,” said Vitner. “It’s a far different world today than it was 10 or 20 years ago, a far healthier mix of jobs and far more promising future.”

With the release of October’s employment numbers, Department of Economic Opportunity Executive Director Jesse Panuccio commented on Florida’s economic indicators and stated, “Florida is showing the nation that low tax, pro-growth policies make a difference for families.  The 32,000 new private sector jobs, the 268,000 job openings, and an unemployment rate down to 6.0 percent mean that Florida is getting back to work.”

But we must continue to plan for the future.

• By 2030, Florida will need to create nearly two million net new jobs across the state to maintain a six percent unemployment rate, according to the Florida Chamber Foundation.

“It is essential that communities and job creators across Florida stay focused on diversification and building the economy of tomorrow to attract high wage jobs, achieve global competitiveness, and maintain our high quality of life and the vibrant and sustainable communities we have grown accustomed to,” said Florida Chamber Foundation Executive Vice President Tony Carvajal.

We’re now turning the tables on you. How is your community and industry preparing for the economy of tomorrow? Tell us your story.

Want to Take Part in Securing Florida’s Future?

The Florida Chamber Foundation is currently recruiting the brightest minds from industry across the state to help us secure Florida’s future. If you would like to have your voice heard as we prepare the Cornerstone 2030 report, contact Tony Carvajal today.

Are you interested in your community joining a Six Pillars Caucus or becoming a Six Pillars Community? Want to learn how The Florida Scorecard can work for your organization? Let us know by emailing us at tlowe@flfoundation.org.

About the Florida Scorecard Did You Know:

The Florida Scorecard, located at www.TheFloridaScorecard.com, presents metrics across Florida’s economy? Each month, the Florida Chamber Foundation produces a Scorecard Stat that takes an in-depth look at one aspect of Florida’s economy. If you would like additional information on the Weekly Scorecard Stat or on the Florida Scorecard, please contact Tracey Lowe with the Florida Chamber Foundation at 850.521.1226 or TLowe@FLFoundation.org. You can also follow the Florida Chamber Foundation on Twitter at @FLChamberFDN.