Florida Economy

Florida is the top travel destination in the world relying on tourism to drive its economy more than any other state.

Florida economy. Florida s balky unemployment system was among the slowest in the country to respond to the surge in unemployment as the pandemic sidelined key sectors of the state s economy including bars restaurants and huge swaths of the tourist industry. September 18 2020 source. Cape coral fort myers fl. Florida ranks 2nd among u s.

More data series including additional geographic areas are available through the databases tables tab at the top of this page. Florida has an unemployment rate of 3 6. It s also among the fastest growing states. Florida s top industry tourism added 111 7 billion to the state s economy in 2016 flickr visit st.

Florida s economy has dropped like a rock because of the lockdown. Future job growth over the next ten years is predicted to be 41 6 which is higher than the us average of 33 5. The sunshine state also relies heavily on international trade agriculture. The first european contact was made in 1513 by spanish explorer juan ponce de león who called it la florida la floˈɾiða the land of flowers upon landing there.

Since february the state s unemployment rate has skyrocketed by a factor of five hitting 14 5 percent in may. Florida has seen the job market increase by 2 1 over the last year. Bureau of labor statistics note. Florida s 1 0 trillion economy is the fourth largest of any u s.

The us average is 3 9. States for fiscal stability and has the 9th best economy in the u s.