Florida Saw Steady Job Growth, Stabilizing Housing Market, and Cooling Inflation Last Month

• From the Talent Supply & Education Pillar -
  • September continued the trend of steady job growth, moving Florida even closer to 10 million non-agricultural jobs, a milestone we expect to surpass as we head into 2025.
  • 7 of the 10 major industries saw annual job growth in September.
  • The education and health services industry continues to see some of the fastest job growth each month, including health care occupations which are consistently the most in-demand.
  • The unemployment rate remained unchanged and open jobs declined to 392,482, leading to a narrowing in the workforce gap.
• From the Infrastructure & Growth Leadership Pillar - 
  • Florida's single family home market continues to stabilize, and although the median sale price, nearly $412,000, is higher than pre-pandemic pricing, both price and sales have remained steady in 2024.
• From the Business Climate & Competitiveness Pillar -
  • Inflation has cooled once again in September, down to 2.4% nationally and 2.1% in the southern region.
  • The Federal Reserve's 0.5 percentage point interest rate cut last month is expected to lower borrowing costs for consumers, resulting in decreasing interest rates for car and home loans in the next few months. In case you missed it, read our VP of Research, Keith Richard, Ph.D.'s analysis here.

Securing Florida's Infrastructure