Tens of thousands of Floridians left their jobs in February 2024, resulting in the sunshine state having one of the highest quit rates in the country. Interestingly, this does not necessarily show a slump in Florida’s economy or workforce.

Instead, it shows a dramatic shift in employment patterns. People are quitting some industries to pursue other opportunities. As a result, some Florida businesses may suffer the effects of what many are dubbing the “Great Resignation.”

The Bureau of Labor Statistics estimated that 303,000 Floridians left their jobs in February 2024. This is an increase of 35,000 from the previous month and 19,000 from February of the prior year. 

The figure is significantly higher, especially when compared to other states in the country. In contrast, many states have reported a lower quit rate that month than the previous year.

To understand the scale of Florida’s current quit rate, it is important to compare it to other states. Nevada, for example, had only 45,000 residents quit their jobs, while Massachusetts had only 57,000 leave.

Only California and Texas had comparable amounts to Florida, with 324,000 and 337,000 resignations, respectively.

High leave rates often result in lower unemployment and increased worker satisfaction. It also leads to better working conditions and higher overall pay. 

Essentially, it means that residents are sure they can find other jobs that pay higher and provide more benefits than the ones they have now.

This is particularly true in Florida, with over 557,000 open posts. 

This means that the 303,000 people who lost their jobs will almost likely be able to find new employment. Depending on their previous position, it will likely be quite an upgrade.

Florida’s unemployment rate is significantly lower than the national average, indicating that Florida’s workforce is currently superior to most other states.

The Sunshine State’s unemployment rate rose to an almost unbearable 14.5% in 2020. This resulted from the COVID-19 epidemic but has since recovered. Currently, the national unemployment rate is 3.8%, whereas Florida’s is only 3.2%.

Furthermore, layoffs in Florida have decreased; 105,000 people were laid off in January 2024, compared to 98,000 in February. 

This is another positive indication for Florida’s labor force. However, while the labor market is generally improving, only a few industries benefit.
Education, Health Services, and Government Positions Are Seeing More Applicants

Findings show that education, health services, and municipal government are the three industries that profited from Florida’s Great Resignation. 

Positions in state and municipal government, education, and health services have quit rates of less than 1%. 57,000 Floridians have also found new positions in health services. 

On the other hand, Florida’s service-based industries are struggling to keep their employees. Last month, retail experienced a 4.5% quit rate, while 5.8% of hospitality staff left their jobs.

Marc Weinstein is a clinical professor of business at Florida International University. He explained that “People in low-wage jobs, they want better jobs. Better jobs not just in terms of compensation but greater stability.”

In addition, the number of remote workers in Florida has significantly increased recently. Since the pandemic, employers have pushed millions of Americans to work from home rather than in the office. Many firms have stuck with the model because it saves money and boosts employee satisfaction.

Many Americans, who may now work from anywhere, have decided to work from Florida’s lovely sandy beaches rather than anywhere else.

One of the reasons Florida’s workforce has stayed continuously remarkable since the pandemic is that the state does not charge residents income taxes. 

As a result, employees in every industry, including remote workers employed by companies in other states, keep much more of their paychecks—more than their compatriots in California, New York, or most other states.

Americans have been moving drones to Florida in recent years. Although mass migration seems to be slowing, more than 300,000 new residents will still be in 2023.

While it may appear that more residents mean fewer jobs, this is not the case. In fact, as Florida’s population grows, the economy and labor force will improve in the next few years, making it one of the greatest areas to live and work in the country.