The Florida unemployment rate increased slightly to 2.9 percent in November, notably still near its historically low levels. This data represents 324,000 unemployed individuals out of a labor force encompassing 11.19 million, as documented in a report by the Florida Department of Commerce.

In the first half of the year, the unemployment rate remained at 2.6 percent and has been slowly climbing since July. Florida’s record low was 2.4 percent during 2006’s housing boom. The labor force increased by 350,000 people from November 2022 to November 2023, and the unemployment rate was 2.7 percent in November 2022.

Chief of workforce statistics and economic research at the Department of Commerce, Jimmy Heckman, pointed out that the increase in business establishments in Florida is contributing significantly to the increased demand for labor. Several regions in the state recorded unemployment rates below 3 percent, including Miami-Fort Lauderdale-West Palm Beach, Crestview-Fort Walton Beach, and the areas of Panama City and Naples-Immokalee-Marco Island.

In contrast, the Homosassa Springs area reported the highest unemployment rate, standing at 4.5 percent. A subsequent increase in employment in several fields, such as education, health services, leisure, hospitality, and construction, was observed over the past year.

Nationally, the unemployment rate stood at 3.7 percent in November, down from 3.9 percent in October, remaining under 4 percent for the past two years. The statewide unemployment rate is adjusted seasonally, while metropolitan statistical areas are unadjusted.