Florida Government: Small Unemployment Increase in Northwest Florida

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Florida’s workforce continues to grow – and Florida businesses continue to provide jobs for that workforce.

The State of Florida reported private sector job growth of about .5% in the last month, adding 42,800 jobs in July of 2023. The increase in job growth outpaced the rest of the country fivefold.

While more jobs were added, the unemployment rate increased slightly. The state’s unemployment rate was 2.66% compared to the prior month’s 2.63%. Florida had its 33rd month below the national average of 3.5%.

The Pensacola Area's Economy

The Pensacola area witnessed a remarkable surge in labor force and job growth in July 2023. Bolstered by a 2.9 percent increase over the year, the area’s labor force expanded by 6,882. This positive trajectory echoes the larger economic stability and prosperity experienced throughout the Sunshine State.

Private sector employment in the Pensacola area, including Niceville and Valparaiso, did see an increase of .2% in July compared to July 2022.

Of noteworthy significance is the Pensacola metro area’s exceptional job growth rate of 5.4 percent in the financial activities sector, positioning it as the frontrunner among all metro areas in this category. The education and health services industry witnessed a notable gain of 2,400 jobs. In comparison, the leisure and hospitality sector also displayed solid growth with an additional 1,600 jobs.

Currently, almost half a million jobs are available online for people in the Greater Pensacola area.

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