FloridaCommerce Announces Southwest Florida Labor Force Up 13,390 Over the Year in January 2024

Naples, Fla. — Today, FloridaCommerce announced that the Southwest Florida labor force increased by 13,390 over the year in January 2024. Fort Myers area unemployment rate was 3.4 percent in January 2024, unchanged from the year ago rate. The Fort Myers area had the fastest over-the-year job growth rate compared to all metro areas in the state in construction at 9.0 percent.

The Fort Myers area labor force grew by 9,793 over the year in January 2024, a 2.6 percent increase, and the Naples area labor force increased by 3,597 over the year, a 1.9 percent increase. The Naples area had a 3.0 percent unemployment rate in January 2024, up 0.3 percentage point over the year.

Additionally, the Fort Myers area’s private sector employment grew by 8,000 jobs over the year in January 2024, an increase of 3.1 percent. The Fort Myers area industries gaining the most jobs over the year were construction, increasing by 3,500 jobs; trade, transportation, and utilities, increasing by 1,700 jobs; and leisure and hospitality increasing by 1,300 jobs.

The Naples area private sector employment increased by 4,100 jobs (+2.6 percent) over the year in January 2024. The Naples area industries gaining the most jobs over the year were construction, increasing by 1,000 jobs; leisure and hospitality, increasing by 900 jobs; and trade, transportation, and utilities, increasing by 900 jobs.

Florida’s private sector job growth rate increased by 0.4 percent (+37,900 jobs) in January 2024, double the national rate of 0.2 percent over the same period. Florida’s economic data continues to indicate economic stability and confidence among Florida’s workforce as the state’s labor force grew by 2.2 percent (+243,000) over the year in January 2024, faster than the national over-the-year rate of 0.8 percent, including 16,000 net new workforce participants in January 2024.

In January, the education and health services sector gained the most jobs among all major industries, adding 9,700 jobs from the previous month, followed by a uniquely elevated month for leisure and hospitality. Critics initially claimed leisure and hospitality would be negatively impacted by SB 1718, which made using E-Verify mandatory for any employer with 25 or more employees, but in fact, the leisure and hospitality industry has surpassed pre-enactment levels, adding 9,400 jobs in January 2024.

Florida’s statewide unemployment rate has been lower than the national rate for 39 consecutive months. The national unemployment rate was 3.7 percent for January 2024, 0.6 percentage point higher than Florida’s rate.
  
Data in the month of January continues to indicate there are many job opportunities available for Floridians throughout the state, with more than 405,000 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 January 2024 jobs reports by region, please see below: 

• Fort Lauderdale
• Jacksonville
• Miami
• Orlando
• Pensacola
• Southwest Florida
• Tampa
• West Palm Beach

To view January 2024 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. Additionally, FloridaCommerce has provided a video to assist users in explaining the data provided through Florida Insight.

###