Tens of thousands of Floridians quit their jobs in February, according to data from the U.S. Bureau of Labor Statistics (BLS), in what was one of the highest rates of quits in the nation.
The number of people who quit their jobs rose by 35,000 for the month, the data showed. The quit rate amounted to about a 0.4 percent jump, BLS revealed.
Other states that saw substantial levels of employees leaving their jobs included Missouri, with a 25,000 jump for February, along with Nevada, which lost 10,000 workers.
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The data also showed that there were job openings for Floridians looking for work. There were 557,000 open roles, an increase of 20,000 in February compared to the previous month, suggesting that workers searching for jobs may be able to secure one.
Like other parts of the country, Florida was hit hard by the pandemic-induced economic crisis. The unemployment rate skyrocketed to more than 14 percent in May of 2020 as COVID-19 hit the country and brought the economy to a standstill. But Florida has since recovered, with its unemployment rate at 3.1 percent in February, which was lower than the national rate of 3.9 percent.
The jobs market appears robust. A high number of quits could suggest that people feel that they are able to find new jobs. Employers in the state are seemingly still recruiting as the job-openings figures indicate. Another positive sign for the labor market in the state comes from layoffs, which fell to 98,000 in February from 105,000 the month prior.
Job gains during the month were reported in education and health services, which added more than 57,000 workers. The information sector saw 900 job losses in February.
Recent analysis shows that in 2023, some of the hottest labor markets were in Florida. Of the 10 top cities viewed as hot, four came from the state, according to a ranking by the Wall Street Journal.
Remote workers were attracted to the state by, among other things, the lack of state income tax, the Journal said.
Some high-profile companies such as hedge fund firm Citadel said it relocating its headquarters to Miami from Chicago. Meanwhile, recent trends suggest that some Americans are choosing to migrate from places like New York to Florida, looking to take advantage of relatively more affordable homes, even as it grapples with a homeowner's insurance challenge that has pushed up the cost of owning a property.
Uncommon Knowledge
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Omar Mohammed is a Newsweek reporter based in the Greater Boston area. His focus is reporting on the Economy and ... Read more
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