Gov. Scott: Florida Businesses Created 32,000 Private-Sector Jobs in October

Press Release

Governor Rick Scott today announced that Florida's private-sector businesses added 32,000 jobs in October 2014. Florida's annual job growth rate has exceeded the nation's rate since April 2012. Florida's statewide unemployment rate in October was 6.0 percent, down 0.1 percentage point from last month and down 0.7 percentage point from the October 2013 rate of 6.7 percent.

Governor Rick Scott said, "Today's announcement that Florida has added 32,000 private-sector jobs is great news as we continue our work to ensure that every Floridian who wants a job can get one. Since December 2010, Florida has added 679,000 private-sector jobs, and it is clear that we are succeeding in creating an opportunity economy that supports families."

Since December 2010, Florida's unemployment rate has dropped 5.1 percentage points, from 11.1 percent down now to 6.0 percent in October 2014. Florida's unemployment rate has declined or held steady over the month for 47 of the last 50 months.

Department of Economic Opportunity Executive Director Jesse Panuccio said, "As the state's primary economic indicators continue to improve month after month, 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."

Florida's labor force increased over the month and over the year in October. On an annual basis, Florida's labor force has increased for 56 consecutive months. This economic indicator can be a sign of optimism as more people are entering the labor force with confidence in their prospects for finding employment. The labor force is defined as the sum of employment plus unemployment (those with a job and those without a job but actively seeking work).

The long-term positive trends in the unemployment rate and job counts are among the most important economic indicators to consider when analyzing the health of Florida's economic recovery. The state's private-sector job counts have been steadily on the rise for over four years, showing that Florida's businesses are responding to the state's improving economic climate. Since December 2010, the state has added 679,000 private-sector jobs.

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