Florida Department of Economic Opportunity Archives

Florida Achieved Economic Milestones in 2022

January 3, 2023January 2, 2023 The Center Square

Florida’s economy reached many milestones in 2022, including recording it’s second lowest unemployment rate in state history and reaching record levels of job creation and budget reserves. It also closed 2022 with nearly $22 billion in surplus, the highest in state history, and decreased its debt by $1.3 billion.

“By keeping Florida free and open, we have created a positive economic environment and invested in our state’s workforce and communities,” Gov. Ron DeSantis said of the state’s economic progress. He’s touted Florida leading the U.S. “in net migration and talent attraction” while “other states continue to struggle at the hands of poor leadership; people and businesses are flocking to Florida.”

Florida Governor DeSantis Announces Millions for More Rural Infrastructure

February 23, 2022February 22, 2022 Grant Holcomb

Earlier this week, Florida Governor Ron DeSantis announced $11 million will be going to supporting rural infrastructure in three counties: Madison, Suwannee, and Putnam. He made the announcement from Madison, Fla., as the money will come from the Community Development Block Grant program administered by the Florida Department of Economic Opportunity (DEO).

Florida Jobs Report Shows Declining Unemployment, Indicators of Economic Growth

January 25, 2022January 24, 2022 Grant Holcomb

A jobs report from the Florida Department of Economic Opportunity (DEO) shows Florida is continuing to lead the county in job creation and lower unemployment rates. Florida’s unemployment rate fell to 4.4 percent in December 2021 – down 0.1 percent from November 2021.

The report indicates good news for Florida’s economy with Florida gaining 479,300 jobs throughout the entirety of 2021, which is an increase of 5.6 percent. The national jobs creation average during the same time period was 4.5 percent.

Florida Unemployment Claims Lowest Since December 2019

January 5, 2022January 4, 2022 Casey Owens

Despite the surge in the new COVID-19 Omicron variant that is especially prominent in Florida, the number of new unemployment claims during the week that ended on December 25th was the lowest since before the pandemic during the same time period in 2019.

According to a news release by the U.S. Department of Labor (USDOL) on Thursday, the number of initial unemployment claims in Florida for that week was only 3,982 – down 1,178 from 5,160 the week before.

State Benefits to be Reduced Due to Low Florida Unemployment Rate

January 1, 2022December 31, 2021 Grant Holcomb

The Florida Department of Economic Opportunity announced earlier this week that an algorithm to determine the number of weeks of benefits will revert back to its pre-pandemic rate.

According to state law, when the state unemployment rate is below five percent, the number of weeks for an eligible Floridians to receive benefits is 12 weeks.

Florida Jobs Report Shows Growth, Unemployment Rate Continuing to Drop

December 20, 2021December 19, 2021 Grant Holcomb

The Florida Department of Economic Opportunity (DEO) released the November jobs report along with labor force statistics, and the unemployment rate in Florida dropped to 4.5 percent. Compared to one year ago, the rate was a 5.4 percent.

State officials say the continued drop is more indication the “open for business” policies in Florida have kept Florida’s economy recovering from the pandemic-induced economic slow-down.

Report Shows Lowest Florida Jobless Claims Since Before the Pandemic

November 28, 2021November 27, 2021 Casey Owens

The four-week average number of Florida jobless claims reached its lowest mark since before the COVID-19 pandemic. The U.S. Department of Labor (USDL) released the information on Wednesday.

The data reflected 5,343 first-time unemployment claims filed in Florida during the week that ended Nov. 20, which dropped the four-week average to 6,045 claims.

Governor DeSantis Comments on Florida’s Job Growth in September

October 23, 2021October 22, 2021 Casey Owens

Governor Ron DeSantis announced Friday in a press release that Florida’s job growth in September grew three times faster over the month than the rest of the nation.

According to the press release, overall for the month, Florida gained 84,500 total jobs, including nearly 73,000 private-sector jobs, which marks 17 months of private-sector job growth, increasing by 5.6% over the year.

Florida Has Recovered 950,000 Jobs Lost Due to the Pandemic

August 28, 2021August 27, 2021 Casey Owens

The state of Florida has restored more than 950,000 jobs that were lost due to the pandemic, according to Chief Economist and Director of Research for the Florida Chamber of Commerce (FCC), Dr. Jerry Parrish.

In an online presentation titled Florida By the Numbers published by the FCC, Parrish notes that the pandemic resulted in the loss of approximately 1.3 million jobs since April 2020, and that there are still 315,800 jobs to be restored in order to get back to “pre-COVID levels.”

Florida Circuit Court Judge Hears Case Regarding CARES Act Reinstatement

August 27, 2021August 26, 2021 Casey Owens

Judge Layne Smith of Florida’s Second Judicial Circuit Court held a hearing Wednesday for a lawsuit filed against Governor Ron DeSantis, the Florida Department of Economic Opportunity (DEO) and its Secretary, Dane Eagle.

The complaint was filed on July 25th by attorneys on behalf of a group of Broward County residents in response to the $300-a-week in federal unemployment benefits – known as the Coronavirus Aid, Relief, and Economic Security Act, or the ‘CARES Act’ – that were cut off in Florida on July 26th.

Florida Unemployment Ticks Up in July

August 26, 2021August 25, 2021 Casey Owens

The Florida Department of Economic Opportunity (DEO) released statewide unemployment data on Friday, showing slight increase in the unemployment rate from June to July.

As stated in the DEO release, Florida’s seasonally adjusted unemployment rate was 5.1 percent in July 2021, up 0.1% from the June 2021 rate, and down 6.4% from a year ago.

Lawsuit Filed to Restore Federal Unemployment Assistance in Florida

July 27, 2021 Casey Owens

A lawsuit against Governor DeSantis, the Florida Department of Economic Opportunity (DEO), and its Director Dane Eagle was filed on Sunday in attempt to bring back the $300 a week in federal unemployment assistance to Floridians.

The federal assistance was suppose to be available through September 6th but was cut off on June 26th by DeSantis and the DEO under the “Return to Work” initiative.

Initial Unemployment Claims in Florida Decrease

July 3, 2021July 2, 2021 Casey Owens

The U.S. Department of Labor (DOL) reported a decrease in unemployment claims in Florida for the week that ended June 26th, the last day jobless Floridians were able to receive federal unemployment assistance.

Data released Thursday by the DOL shows 6,086 new claims for that week, a decrease of 7,667 claims from the week that ended on June 19th.

Florida’s Unemployment Rate Increases in May

June 21, 2021June 20, 2021 Casey Owens

In the most recent data released by the Florida Department of Economic Opportunity (DEO) on Friday, the May unemployment rate in Florida was 4.9%, up .1% from the unemployment rate in April.

Although the the number of individuals who qualified for unemployment rose from 488,000 in April to 503,000 in May, the labor force increased by 72,000 people during the same time.

Florida Unemployment Claims Lowest Since Before the Pandemic

June 12, 2021June 11, 2021 Casey Owens

The U.S. Department of Labor (DOL) reported the lowest number of initial unemployment claims in Florida since the week that ended March 14th, 2020.

According to the DOL, the week that ended June 5th recorded an estimated 5,800 initial unemployment claims, which is down from a revised number of 8,257 claims from the week before.