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Date ArticleType
1/24/2024 7:15:22 PM Advocacy

Florida is the 4th largest national economy, outpacing the nation with an 18.7% GDP growth over the last 4 years

The January 2024 edition of Florida By The Numbers is now available. Florida Chamber Foundation Senior Research Economist Sheridan Meek takes us on an exclusive journey through the Florida 2030 Blueprint's Six Pillars Framework, specifically highlighting some of the latest metrics that matter to securing Florida's future as a top 10 global economy by 2030.  Some of the metrics covered in this update include:

  • From the Innovation & Economic Development Pillar - 
    • Florida's annual job growth in December slowed by 0.3%, although Florida's job growth still outpaces the nation as a whole.
    • Although Florida's job market is beginning to stabilize, annual job growth was seen in every industry for the first time in months.
    • Florida's Gross Domestic Product (GDP) has grown by 18.7% over the last 4 years. Figures show Florida is the 4th largest economy in the country, growing at a faster pace than any other state.
  • From the Talent Supply & Education Pillar - 
    • Employment rose above 9.8 million in December, an increase of almost 16,000 jobs over the month and nearly 240,000 over the year. 
    • Unemployed Floridians increased by 10,000 from November to December with unemployment up to 3.0%. 
    • Workforce shortages vary byoccupation, with registered nurses continuing to be the most in-demand occupation.
  • From the Infrastructure & Growth Leadership Pillar - The 12-month rolling average in single-family home sales has been declining since its peak in 2021, and prices are up nearly 4%.
  • From the Business Climate & Competitiveness Pillar - Florida's consumer sentiment improved to 69.5 in December, an increase from the previous month. However, the annual average consumer sentiment was 67.9, the third lowest in index history.

These metrics and more are found on TheFloridaScorecard.org.

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