Several companies in Florida experienced significant layoffs this year, including Chewy, Tyson Foods, Wells Fargo, CVS, Monterey Mushrooms, and the Foley Cellulose Mill.
A recent report reveals that Florida’s job losses have doubled compared to the previous year. The data from Challenger, Gray & Christmas indicates a loss of 24,742 jobs from January to October 2023, a substantial increase from the 9,633 job cuts during the same period last year. The report highlights technology, financial and insurance sectors, and retail as the industries most affected by layoffs nationwide.
Despite these figures, some experts argue that Florida’s economy is defying national trends. Economist Sean Snaith stated in October 2023, “Florida’s economy today is more like Teflon. A lot of the effects of a national slowdown will just slide right off.”
Contrary to the job loss data, the Florida Governor’s office reported growth in the state’s labor force by 0.2 percentage points in October. Governor Ron DeSantis emphasized, “Florida is bucking the national trends, and we continue to see job growth month after month. In Florida, we are driving economic success through smart investments in workforce education, strong infrastructure, and local community development.