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According to data from the U.S. Bureau of Labor Statistics (BLS), tens of thousands of Floridians resigned their employment in February, making it one of the states with the highest quit rates in the country.
According to the figures, 35,000 more people departed their jobs during the course of the month. According to BLS data, there was a 0.4 percent increase in the quit rate.
Other states that had significant job losses were Nevada, which lost 10,000 workers, and Missouri, which witnessed a 25,000 increase in February job losses.
Additionally, the data indicated that job opportunities existed for job-seeking Floridians. There were 557,000 available positions in February, up 20,000 from the previous month, indicating that job seekers would be able to find employment.
Florida experienced a severe economic downturn because to the epidemic, much like other regions of the nation. When COVID-19 struck the nation and the economy came to a complete halt in May 2020, the unemployment rate shot up to more than 14 percent. However, Florida has already bounced back, with a February unemployment rate of 3.1 percent, which was less than the 3.9 percent national figure.
The job market seems to be doing well. A high rate of resignations may indicate that individuals believe they may obtain new employment. The state’s job-openings statistics seem to imply that employers are still hiring. The number of layoffs in the state decreased to 98,000 in February from 105,000 in January, which is another encouraging indicator for the labor market.
Over 57,000 new jobs were added to the workforce in the health and education sectors throughout the month. In February, there were 900 job losses in the information sector.
According to recent data, Florida has some of the hottest labor markets in 2023. Four of the ten most desirable cities in the state were listed in a Wall Street Journal rating.
The Journal stated that the absence of a state income tax was one of the factors luring remote workers to the state.
Several well-known businesses, including the hedge fund Citadel, announced that it was moving its corporate headquarters from Chicago to Miami. Current data indicates that a growing number of Americans are opting to relocate from states such as New York to Florida in search of comparatively more economical real estate, despite the state’s ongoing struggle with a homeowner’s insurance crisis that has increased the expense of property ownership.
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Chris began his writing as a hobby while attending Florida Southern College in Lakeland, Florida. Today he and his wife live in the Orlando area with their three children and dog.
