(The Center Square) – According to federal data, Florida’s labor force swelled to more than 11.1 million with 113,600 new jobs in January.
The state’s formerly red-hot economy showed signs of slight cooling after its unemployment rate inched up to 3.5%. A year ago it was 3.2%.
The U.S. Bureau of Labor Statistics revised its data for January and Florida’s labor force expanded by 162,000 compared to the previous estimate. According to this data, the Sunshine State’s labor force has either grown or remained constant in 10 of the previous 12 months.
Florida’s seasonally adjusted labor force participation rate was 58.2% in January, a slight improvement from December when it was at 57.8%.
The rate was 58.5% in January 2024, down from a 10-year high in October 2019 when it was at 59.9%.
The seasonally adjusted labor force participation rate is defined as the percentage of those either working or seeking work.
The largest growth sectors statewide were education and health services, adding 7,200 jobs, followed by leisure and hospitality with 6,100 jobs.
As for the state’s metropolitan areas, Orlando’s workforce took top honors as it increased by 28,600 positions. The city’s unemployment rate was 3.6%, up 0.4 percentage points compared to January 2024.
Miami added 24,300 workers and the area’s unemployment rate was 2.4% in January, up from the same time last year when it was 1.9%.
Tampa was third with a job gain of 19,246 employees. Compared to January 2024, when the unemployment rate was 3.4%, the jobless measure increased to 3.8%.
Fort Lauderdale’s unemployment rate grew by 0.3 percentage points to 3.4% in January compared with the same time last year. The area had a job gain of 6,000, with 3,600 of those positions coming from the education and health services sector.
Jacksonville’s labor market gained 9,700 private sector jobs, but its January unemployment rate declined compared to January 2024 by 0.4 percentage points to 3.8%.
Pensacola had a job gain of 3,369 and had an unemployment rate of 4%, up from January 2024 when it was 3.5%.
Southwest Florida, which includes Cape Coral, Fort Myers and Naples, added 3,000 jobs and its unemployment rate increased to 4%, up from 3.4% the same time last year.
The West Palm Beach area added 4,331 jobs, but the unemployment rate in January was 3.7%, up from January 2024 when it was 3.6%.
Pensacola’s metro area gained 2,000 jobs and its jobless rate was 4% in January, up 0.5 percentage points from the same time last year.
