Florida’s jobs picture appears strong. How does it compare to other big states?
By many measures, Florida’s employment picture looks good. The state’s workforce has grown and unemployment has plummeted. Even wages have improved, outpacing inflation.Florida is in a better place than five years ago. But how do we compare to the five other most-populated states — California, Texas, New York, Pennsylvania and Illinois? Let’s start with the most common benchmark: the unemployment rate, the percentage of people who are able and willing to work but can’t find a job.
Florida posted a 3.3 percent rate in July, the latest month available. That ranks 16th in the nation, far behind top placed Vermont at 2.1 percent. But it’s good enough to be No. 1 among the Big Six, just ahead of Texas at 3.4 percent. Illinois pulled up the rear of the Big Six at 4.2 percent, low by historical standards but mediocre during these heady days of near record low unemployment. Florida has also created new jobs nearly ever month for the past five years. In other words, more people were employed than the previous month, save for a blip in September 2017 when Hurricane Irma shut down large swaths of the state.