Governor DeSantis Announces Pensacola Area Unemployment Rate Drops to 2.6 Percent in February 2023 Down 0.7 Percentage Point Over the Year

Pensacola, Fla. — Today, Governor Ron DeSantis announced that the Pensacola area unemployment rate dropped to 2.6 percent over the year in February 2023, down 0.7 percentage point from 3.3 percent reported in February 2022.  The Pensacola area’s private sector employment added 6,400 jobs increasing by 4.0 percent over the year in February 2023.

The Pensacola area labor force increased by 7,580 over the year, a 3.3 percent increase. The industries gaining the most jobs over the year were education and health services, increasing by 2,200 jobs; and leisure and hospitality, increasing by 2,000 jobs.

Florida’s unemployment rate remained at a low 2.6 percent, while the national rate increased. Furthermore, Florida’s unemployment rate decreased by 0.7 percentage point over the year and has been lower than the nation for 28 consecutive months since November 2020.

In February 2023, Florida’s private sector employment grew by 5.0 percent (406,600 jobs) over the year. Between February 2022 and February 2023, Florida’s labor force grew by 247,000 (2.3 percent), which is faster than the national labor force growth rate of 1.5 percent during the same time period.

Florida’s private sector employment increased by 0.4 percent over the month (+34,800 jobs) in February 2023, faster than the national rate by 0.2 percentage point over the month and 2.0 percentage points over the year. In February 2023, Florida employers have added jobs for 33 months since May 2020, with the exception of October 2022. Florida’s over-the-year private sector job growth rate has exceeded the nations’ job growth rate for 23 consecutive months since April 2021.

In February 2023, trade, transportation and utilities gained the most jobs among all major industries, adding 12,800 jobs (+0.7 percent) over the month, followed by education and health services, adding 11,400 jobs (+0.8 percent), and leisure and hospitality, adding 10,700 jobs (+0.8 percent).

Data from the month of February continues to indicate there are many job opportunities available for Floridians throughout the state, with more than 409,000 jobs posted online. Floridians in search of work and new job opportunities are encouraged to turn to the CareerSource Florida network for help. Floridians can find guidance on how to register with Employ Florida and search listings of available local job openings. Career seekers also can improve their employability by perfecting resume writing and interviewing skills, establishing career goals, and pursuing customized career training. These services are provided at no cost to job seekers.

To view the statewide February 2023 employment data, visit www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases. Visit Florida Insight for more information on labor market and economic data.         

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