In an era of economic uncertainty, the U.S. job market remains resilient. After falling to 3.7% in November 2023, the national unemployment rate has been below 4% for 22 consecutive months, the longest streak in over 50 years.
Of course, if history is any guide, much of the economy is subject to boom and bust cycles — and the job market is no exception. Since the mid-1970s, the average annual unemployment rate in the U.S. has fluctuated between 3.6% and nearly 10%, according to the Bureau of Labor Statistics.
These same cyclical patterns are also evident in Florida, where the job market is supported largely by the professional and scientific and retail trade industries. The annual unemployment rate in the state was 2.9% in 2022, a multi-decade low. However, conditions for job seekers have not always been so favorable.
According to historical BLS data going back to 1976, the annual jobless rate has been as high as 11.1% in Florida. More than once, unemployment in the state has either matched or come close to that peak.
This is how Florida’s job market has changed in each of the last 47 years.
1976: 9.2% unemployment
- Avg. unemployment rate: 9.2% (7.7% nationwide)
- Labor force participation rate: 55.3% (61.6% nationwide)
- Unemployed population in Florida: 335,779
1977: 8.2% unemployment
- Avg. unemployment rate: 8.2% (7.1% nationwide)
- Labor force participation rate: 55.4% (62.3% nationwide)
- Unemployed population in Florida: 308,189
1978: 6.7% unemployment
- Avg. unemployment rate: 6.7% (6.1% nationwide)
- Labor force participation rate: 56.9% (63.2% nationwide)
- Unemployed population in Florida: 267,886
1979: 5.9% unemployment
- Avg. unemployment rate: 5.9% (5.8% nationwide)
- Labor force participation rate: 57.0% (63.7% nationwide)
- Unemployed population in Florida: 247,869
1980: 6.1% unemployment
- Avg. unemployment rate: 6.1% (7.1% nationwide)
- Labor force participation rate: 56.5% (63.8% nationwide)
- Unemployed population in Florida: 257,340
1981: 6.7% unemployment
- Avg. unemployment rate: 6.7% (7.6% nationwide)
- Labor force participation rate: 57.4% (63.9% nationwide)
- Unemployed population in Florida: 309,542
1982: 8.4% unemployment
- Avg. unemployment rate: 8.4% (9.7% nationwide)
- Labor force participation rate: 57.6% (64.0% nationwide)
- Unemployed population in Florida: 399,472
1983: 8.5% unemployment
- Avg. unemployment rate: 8.5% (9.6% nationwide)
- Labor force participation rate: 58.3% (64.0% nationwide)
- Unemployed population in Florida: 421,757
1984: 6.4% unemployment
- Avg. unemployment rate: 6.4% (7.5% nationwide)
- Labor force participation rate: 59.5% (64.4% nationwide)
- Unemployed population in Florida: 339,293
1985: 6.0% unemployment
- Avg. unemployment rate: 6.0% (7.2% nationwide)
- Labor force participation rate: 59.9% (64.8% nationwide)
- Unemployed population in Florida: 324,410
1986: 5.8% unemployment
- Avg. unemployment rate: 5.8% (7.0% nationwide)
- Labor force participation rate: 60.9% (65.3% nationwide)
- Unemployed population in Florida: 325,357
1987: 5.3% unemployment
- Avg. unemployment rate: 5.3% (6.2% nationwide)
- Labor force participation rate: 62.2% (65.6% nationwide)
- Unemployed population in Florida: 317,174
1988: 5.1% unemployment
- Avg. unemployment rate: 5.1% (5.5% nationwide)
- Labor force participation rate: 62.9% (65.9% nationwide)
- Unemployed population in Florida: 315,577
1989: 5.6% unemployment
- Avg. unemployment rate: 5.6% (5.3% nationwide)
- Labor force participation rate: 63.3% (66.5% nationwide)
- Unemployed population in Florida: 350,990
1990: 6.1% unemployment
- Avg. unemployment rate: 6.1% (5.6% nationwide)
- Labor force participation rate: 63.2% (66.5% nationwide)
- Unemployed population in Florida: 404,346
1991: 7.5% unemployment
- Avg. unemployment rate: 7.5% (6.8% nationwide)
- Labor force participation rate: 62.1% (66.2% nationwide)
- Unemployed population in Florida: 496,817
1992: 8.2% unemployment
- Avg. unemployment rate: 8.2% (7.5% nationwide)
- Labor force participation rate: 62.0% (66.4% nationwide)
- Unemployed population in Florida: 555,073
1993: 7.1% unemployment
- Avg. unemployment rate: 7.1% (6.9% nationwide)
- Labor force participation rate: 62.1% (66.3% nationwide)
- Unemployed population in Florida: 499,262
1994: 6.4% unemployment
- Avg. unemployment rate: 6.4% (6.1% nationwide)
- Labor force participation rate: 62.4% (66.6% nationwide)
- Unemployed population in Florida: 450,146
1995: 5.5% unemployment
- Avg. unemployment rate: 5.5% (5.6% nationwide)
- Labor force participation rate: 62.1% (66.6% nationwide)
- Unemployed population in Florida: 395,332
1996: 5.2% unemployment
- Avg. unemployment rate: 5.2% (5.4% nationwide)
- Labor force participation rate: 62.0% (66.8% nationwide)
- Unemployed population in Florida: 378,251
1997: 4.8% unemployment
- Avg. unemployment rate: 4.8% (4.9% nationwide)
- Labor force participation rate: 62.5% (67.1% nationwide)
- Unemployed population in Florida: 363,557
1998: 4.3% unemployment
- Avg. unemployment rate: 4.3% (4.5% nationwide)
- Labor force participation rate: 62.6% (67.1% nationwide)
- Unemployed population in Florida: 335,466
1999: 3.9% unemployment
- Avg. unemployment rate: 3.9% (4.2% nationwide)
- Labor force participation rate: 62.7% (67.1% nationwide)
- Unemployed population in Florida: 303,451
2000: 3.7% unemployment
- Avg. unemployment rate: 3.7% (4.0% nationwide)
- Labor force participation rate: 63.4% (67.1% nationwide)
- Unemployed population in Florida: 297,174
2001: 4.7% unemployment
- Avg. unemployment rate: 4.7% (4.7% nationwide)
- Labor force participation rate: 63.2% (66.8% nationwide)
- Unemployed population in Florida: 356,758
2002: 5.6% unemployment
- Avg. unemployment rate: 5.6% (5.8% nationwide)
- Labor force participation rate: 62.0% (66.6% nationwide)
- Unemployed population in Florida: 398,128
2003: 5.2% unemployment
- Avg. unemployment rate: 5.2% (6.0% nationwide)
- Labor force participation rate: 61.3% (66.2% nationwide)
- Unemployed population in Florida: 362,231
2004: 4.6% unemployment
- Avg. unemployment rate: 4.6% (5.5% nationwide)
- Labor force participation rate: 61.6% (66.0% nationwide)
- Unemployed population in Florida: 313,725
2005: 3.7% unemployment
- Avg. unemployment rate: 3.7% (5.1% nationwide)
- Labor force participation rate: 62.2% (66.0% nationwide)
- Unemployed population in Florida: 246,933
2006: 3.2% unemployment
- Avg. unemployment rate: 3.2% (4.6% nationwide)
- Labor force participation rate: 63.0% (66.2% nationwide)
- Unemployed population in Florida: 219,940
2007: 4.0% unemployment
- Avg. unemployment rate: 4.0% (4.6% nationwide)
- Labor force participation rate: 63.6% (66.0% nationwide)
- Unemployed population in Florida: 300,155
2008: 6.3% unemployment
- Avg. unemployment rate: 6.3% (5.8% nationwide)
- Labor force participation rate: 63.2% (66.0% nationwide)
- Unemployed population in Florida: 520,246
2009: 10.4% unemployment
- Avg. unemployment rate: 10.4% (9.3% nationwide)
- Labor force participation rate: 61.6% (65.4% nationwide)
- Unemployed population in Florida: 860,538
2010: 11.1% unemployment
- Avg. unemployment rate: 11.1% (9.6% nationwide)
- Labor force participation rate: 61.2% (64.7% nationwide)
- Unemployed population in Florida: 991,706
2011: 10.0% unemployment
- Avg. unemployment rate: 10.0% (8.9% nationwide)
- Labor force participation rate: 60.9% (64.1% nationwide)
- Unemployed population in Florida: 926,229
2012: 8.5% unemployment
- Avg. unemployment rate: 8.5% (8.1% nationwide)
- Labor force participation rate: 60.5% (63.7% nationwide)
- Unemployed population in Florida: 806,664
2013: 7.2% unemployment
- Avg. unemployment rate: 7.2% (7.4% nationwide)
- Labor force participation rate: 60.1% (63.2% nationwide)
- Unemployed population in Florida: 708,604
2014: 6.3% unemployment
- Avg. unemployment rate: 6.3% (6.2% nationwide)
- Labor force participation rate: 59.9% (62.9% nationwide)
- Unemployed population in Florida: 614,967
2015: 5.5% unemployment
- Avg. unemployment rate: 5.5% (5.3% nationwide)
- Labor force participation rate: 59.3% (62.7% nationwide)
- Unemployed population in Florida: 532,965
2016: 4.8% unemployment
- Avg. unemployment rate: 4.8% (4.9% nationwide)
- Labor force participation rate: 59.2% (62.8% nationwide)
- Unemployed population in Florida: 481,064
2017: 4.2% unemployment
- Avg. unemployment rate: 4.2% (4.4% nationwide)
- Labor force participation rate: 59.3% (62.9% nationwide)
- Unemployed population in Florida: 428,098
2018: 3.6% unemployment
- Avg. unemployment rate: 3.6% (3.9% nationwide)
- Labor force participation rate: 59.3% (62.9% nationwide)
- Unemployed population in Florida: 368,708
2019: 3.1% unemployment
- Avg. unemployment rate: 3.1% (3.7% nationwide)
- Labor force participation rate: 59.5% (63.1% nationwide)
- Unemployed population in Florida: 334,148
2020: 7.7% unemployment
- Avg. unemployment rate: 7.7% (8.1% nationwide)
- Labor force participation rate: 57.7% (61.7% nationwide)
- Unemployed population in Florida: 821,101
2021: 4.6% unemployment
- Avg. unemployment rate: 4.6% (5.3% nationwide)
- Labor force participation rate: 58.2% (61.7% nationwide)
- Unemployed population in Florida: 480,794
2022: 2.9% unemployment
- Avg. unemployment rate: 2.9% (3.6% nationwide)
- Labor force participation rate: 59.3% (62.2% nationwide)
- Unemployed population in Florida: 313,266
| Year | Florida unemployment rate | U.S. unemployment rate | Unemployed population in Florida |
|---|---|---|---|
| 1976 | 9.2 | 7.7 | 335,779 |
| 1977 | 8.2 | 7.1 | 308,189 |
| 1978 | 6.7 | 6.1 | 267,886 |
| 1979 | 5.9 | 5.8 | 247,869 |
| 1980 | 6.1 | 7.1 | 257,340 |
| 1981 | 6.7 | 7.6 | 309,542 |
| 1982 | 8.4 | 9.7 | 399,472 |
| 1983 | 8.5 | 9.6 | 421,757 |
| 1984 | 6.4 | 7.5 | 339,293 |
| 1985 | 6.0 | 7.2 | 324,410 |
| 1986 | 5.8 | 7.0 | 325,357 |
| 1987 | 5.3 | 6.2 | 317,174 |
| 1988 | 5.1 | 5.5 | 315,577 |
| 1989 | 5.6 | 5.3 | 350,990 |
| 1990 | 6.1 | 5.6 | 404,346 |
| 1991 | 7.5 | 6.8 | 496,817 |
| 1992 | 8.2 | 7.5 | 555,073 |
| 1993 | 7.1 | 6.9 | 499,262 |
| 1994 | 6.4 | 6.1 | 450,146 |
| 1995 | 5.5 | 5.6 | 395,332 |
| 1996 | 5.2 | 5.4 | 378,251 |
| 1997 | 4.8 | 4.9 | 363,557 |
| 1998 | 4.3 | 4.5 | 335,466 |
| 1999 | 3.9 | 4.2 | 303,451 |
| 2000 | 3.7 | 4.0 | 297,174 |
| 2001 | 4.7 | 4.7 | 356,758 |
| 2002 | 5.6 | 5.8 | 398,128 |
| 2003 | 5.2 | 6.0 | 362,231 |
| 2004 | 4.6 | 5.5 | 313,725 |
| 2005 | 3.7 | 5.1 | 246,933 |
| 2006 | 3.2 | 4.6 | 219,940 |
| 2007 | 4.0 | 4.6 | 300,155 |
| 2008 | 6.3 | 5.8 | 520,246 |
| 2009 | 10.4 | 9.3 | 860,538 |
| 2010 | 11.1 | 9.6 | 991,706 |
| 2011 | 10.0 | 8.9 | 926,229 |
| 2012 | 8.5 | 8.1 | 806,664 |
| 2013 | 7.2 | 7.4 | 708,604 |
| 2014 | 6.3 | 6.2 | 614,967 |
| 2015 | 5.5 | 5.3 | 532,965 |
| 2016 | 4.8 | 4.9 | 481,064 |
| 2017 | 4.2 | 4.4 | 428,098 |
| 2018 | 3.6 | 3.9 | 368,708 |
| 2019 | 3.1 | 3.7 | 334,148 |
| 2020 | 7.7 | 8.1 | 821,101 |
| 2021 | 4.6 | 5.3 | 480,794 |
| 2022 | 2.9 | 3.6 | 313,266 |
Top Gaining Stocks
Top Losing Stocks