TALLAHASSEE - With an addition of 240,000 jobs in 2015, Florida continues to rise from the Great Recession, according to the December edition of Economic Commentary by Florida TaxWatch. Over the past year, all of Florida’s major industries have seen strong employment gains, with government being the only industry with a reduction in jobs. The unemployment rate has fallen to five percent, matching the national rate and reaching its lowest point since January 2008.
The positive job numbers signal a growing state economy as people get back to work. In fact, nonfarm employment is higher than 8,000,000 for the first time since the Great Recession and some estimates predict that will reach 8,150,200, which would be higher than pre-recession employment. The largest gains in employment occurred in three industries: professional and business services, leisure and hospitality, and education and health services.
Florida TaxWatch expects these job numbers to continue to improve as the state continues to rebound from the Great Recession. Florida’s favorable tax environment and diverse economy allows businesses to flourish and create opportunities for Floridians. With 2015 being a great year for the job market, Floridians can continue to be optimistic that the state is on the right path heading into the New Year.
The December Economic Commentary can be found here.