Florida Leads Nation in Job Growth in January – +32,200 Jobs
According to the U.S. Department of Labor and Wells Fargo Securities, LLC, Florida led the nation in job creation in January, with other 36,000 private jobs. In terms of total jobs, government and private, the state added a net of 32,200 new jobs in January, the highest gain in any month since April 2011. The biggest winners in the state – construction, professional and business services, and then leisure and hospitality. The state’s payrolls gained 3.4%, and Jacksonville was second best, at +4.5%, behind only Orlando at +4.9%, as shown below. Over the past year, Florida non-farm employment added a net of 269,200 jobs with every major industry category posting gains. The state’s unemployment rate is at 5.0%, and would be dramatically less but for Florida’s civilian labor force grew at more than twice that of the nation over the past year.
Chart courtesy of Wells Fargo Securities, LLC