From the first quarter of 2019 to the first quarter of 2024, Florida’s real Gross Domestic Product (GDP) soared by 21.9 percent, nearly double the national growth rate of 11.1 percent. This impressive performance cements Florida’s position as one of the world’s strongest economies, boasting an annual GDP of nearly $1.3 trillion.
The Sunshine State also continues to be a hotbed for entrepreneurship, leading the nation in new business formations. Since 2019, over 3 million new businesses have been launched in Florida, with more than 266,000 already established in 2024 alone.
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“With yet another major economic milestone like this, Florida demonstrates to the nation that leadership matters,” said Governor Ron DeSantis. “Our responsible governance and fiscal constraint mean our state economy has significantly outperformed the national economy, with nearly double the GDP growth rate.”
“Under Governor DeSantis’ strategic investments in workforce education, infrastructure, and financial readiness, Florida continues to outperform the nation across all metrics, including real GDP and private sector job growth,” said Florida Secretary of Commerce J. Alex Kelly. “With the nation’s number one economy, Florida is the most business-friendly state and the best place for families and communities to live, work, and thrive.”
Florida’s private sector job growth continues to outshine the nation, increasing by 2.2 percent (+192,000 jobs) compared to the national rate of 1.6 percent. This growth, reflected in May 2024 data, is fueled by significant gains in the construction and education & health services sectors.
This strong performance demonstrates the confidence that businesses have in Florida’s economic landscape. The state’s commitment to fostering high-skill, high-wage jobs through diverse workforce education and development programs enhances its competitive edge.
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Florida’s unemployment rate remains low at 3.3 percent, significantly below the national average of 4 percent. This sustained trend highlights the abundance of job opportunities available across the state, with over 397,000 jobs currently posted online.
Job seekers are encouraged to leverage the resources offered by CareerSource Florida, a network dedicated to providing free support and guidance in career development, job searches, and skills enhancement.
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