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US State economic profile
Florida - Economic Profile
Statistics, economic information and rankings for the Sunshine State
In 2026, the state of Florida has a population of 24,324,913, having grown an annualized 2.2% over the five years to 2026, which ranks it 1st out of all 50 US states by growth rate. Florida's gross state product (GSP) in 2026 reached $1.4tn, with growth of 4.0% over the 5 years to 2026. Businesses in Florida employed a total of 12,310,043 people in 2026, with average annual employment growth over the past five years of 2.8%. The top three sectors by total employment are Real Estate & Rental & Leasing, Professional, Scientific & Technical Services, Healthcare & Social Assistance, while the unemployment rate across the state in 2026 was 4.7%.
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State economic profile
Florida Economic Overview
$1.4tn
Gross state product
24,324,913
Population
3,110,833
Businesses
What is Florida's Gross Domestic Product (GDP)?
In 2026, Florida's GDP reached $1.4tn, representing an increase of 4.0% from 2025. Florida's GDP has grown at an annualized rate of 3.3% over the five years to 2026. Moreover, Florida's trailing five-year GDP growth ranks it 2nd out of all 50 US states.
State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.
You can track trends in Florida's GDP, and compare them to the national average, using the chart below.
State economic profile
Florida Industry Trends
Learn about current trends affecting the most significant industries for Florida's state economy, down to the county level. IBISWorld offers state industry research reports on over 30,000 industries across all 50 states in the US, including 642 industries in Florida.
What are Florida's Largest Industries by Revenue?
The largest industries by revenue in Florida are New Car Dealers, Hospitals and Commercial Banking, which generated $99.4b, $90.7b and $77.1b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | New Car Dealers | $99.4b |
| 2. | Hospitals | $90.7b |
| 3. | Commercial Banking | $77.1b |
| 4. | Professional Employer Organizations | $70.3b |
| 5. | Public Schools | $65.3b |
| 6. | Health & Medical Insurance | $62.1b |
| 7. | Property, Casualty and Direct Insurance | $58.7b |
| 8. | Wireless Telecommunications Carriers | $58.7b |
| 9. | Drug, Cosmetic & Toiletry Wholesaling | $57.8b |
| 10. | Supermarkets & Grocery Stores | $57.3b |
State economic profile
Top Companies in Florida
Learn about current trends affecting the top companies in Florida. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.
Top 10 Companies Headquartered in Florida by Employment
The largest companies by employment in Florida are Publix Super Markets, Walmart and Walt Disney Co, which employed 161,481, 118,940 and 82,000 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | Publix Super Markets | 161,481 | 1.3% |
| 2. | Walmart | 118,940 | 1.0% |
| 3. | Walt Disney Co | 82,000 | 0.7% |
| 4. | Amazon.Com | 59,000 | 0.5% |
| 5. | Home Depot, inc. | 31,598 | 0.3% |
| 6. | Miami Dade County Government | 30,000 | 0.2% |
| 7. | Hilsborough County Public Schools | 25,000 | 0.2% |
| 8. | Orange County Public Schools | 24,685 | 0.2% |
| 9. | Naval Air Station Jacksonville | 21,000 | 0.2% |
| 10. | Miami-Dade County Public Schools | 16,161 | 0.1% |
State economic profile
Florida Sector Statistics
In Florida, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Florida's GDP by Sector?
The Real Estate & Rental & Leasing, Professional, Scientific & Technical Services and Healthcare & Social Assistance sectors contributed the most to Florida's GDP in 2026, representing a combined 43.3% of state GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state economy, in addition to how the state economy is evolving over time.
| Sector | GDP | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Real Estate & Rental & Leasing | 313,775,668,630 | 6.6% | 7.3% |
| Professional, Scientific & Technical Services | 156,817,497,987 | 9.2% | 9.4% |
| Healthcare & Social Assistance | 131,358,547,435 | 6.2% | 6.6% |
| Retail Trade | 111,317,340,575 | 5.9% | 5.3% |
| Wholesale Trade | 79,328,438,657 | 1.2% | 0.8% |
| Information | 75,432,689,902 | 8.5% | 8.8% |
| Finance & Insurance | 74,438,707,369 | 1.7% | 0.8% |
| Manufacturing | 69,006,971,413 | 3.3% | 3.3% |
| Administration, Business Support and Waste Management Services | 66,264,991,745 | 6.0% | 6.4% |
| Accommodation & Food Services | 64,017,473,017 | 6.2% | 5.9% |
| Construction | 58,780,022,905 | -0.5% | -1.3% |
| Transportation & Warehousing | 54,531,693,240 | 6.4% | 6.7% |
| Management of Companies and Enterprises | 37,670,943,884 | 10.6% | 11.3% |
| Other Services (except Public Administration) | 26,777,883,489 | -0.7% | -0.3% |
| Arts, Entertainment & Recreation | 24,918,004,268 | 8.5% | 10.1% |
| Utilities | 23,898,185,093 | 4.0% | 3.8% |
| Educational Services | 13,611,100,962 | 4.5% | 5.3% |
| Agriculture, Forestry, Fishing & Hunting | 8,329,894,575 | 8.1% | 6.8% |
| Mining | 928,398,486 | -2.1% | -2.1% |
What is Florida's Employment by Sector?
The Administration, Business Support and Waste Management Services, Retail Trade and Healthcare & Social Assistance sectors contributed the most to employment in Florida in 2026, representing a combined 43.2% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
| Sector | Employment | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Administration, Business Support and Waste Management Services | 2,304,935 | 1.6% | 0.9% |
| Retail Trade | 1,516,568 | 1.5% | 2.4% |
| Healthcare & Social Assistance | 1,492,194 | 2.5% | 3.1% |
| Accommodation & Food Services | 1,061,760 | 1.4% | 4.9% |
| Professional, Scientific & Technical Services | 961,480 | 2.1% | 2.6% |
| Construction | 753,732 | 2.2% | 2.4% |
| Educational Services | 730,084 | 1.2% | 2.4% |
| Transportation & Warehousing | 633,453 | 5.0% | 5.3% |
| Finance & Insurance | 540,001 | 1.2% | 1.8% |
| Real Estate & Rental & Leasing | 491,812 | 1.3% | 1.7% |
| Other Services (except Public Administration) | 458,473 | 1.3% | 3.0% |
| Manufacturing | 350,677 | 1.0% | 1.9% |
| Wholesale Trade | 348,200 | 0.8% | 1.5% |
| Arts, Entertainment & Recreation | 322,166 | 1.6% | 4.6% |
| Information | 269,289 | 3.3% | 4.6% |
| Utilities | 49,657 | 1.1% | 0.5% |
| Agriculture, Forestry, Fishing & Hunting | 21,218 | 0.8% | -0.8% |
| Mining | 4,344 | 1.2% | 1.3% |
State economic profile
Florida Employment Trends
12.3m
Employment
4.7%
Unemployment
What Employment Trends are Impacting Florida?
The state of Florida employs 12,310,043 people in 2026, which ranks it 4th out of all 50 US states. Employment in Florida has grown at an annualized rate of 2.6% over the five years to 2026, overperforming the national average of 1.7%. Major sectors by employment in Florida include Administration, Business Support and Waste Management Services, Retail Trade and Healthcare & Social Assistance, which employed 2,304,935, 1,516,568 and 1,492,194 people in 2026, respectively. Florida's unemployment rate is 4.7% in 2026, which ranks it 32nd out of all 50 US states. Florida's unemployment rate has trended upwards at a rate of 0.2% over the five years to 2026, overperforming the US economy as a whole.
Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in Florida, and compare them to the US economy, using the chart below.
$173.2k
Per capita disposable income
What is Florida's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Florida's DPI in 2026 was $173.2k, compared to the US average of $156.5k, which places it 11th out of all 50 US states.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in Florida's per capita disposable income, and compare it to the US average, using the chart below.
State economic profile
Florida Construction & Building Trends
$38,234.0tn
Nonresidential construction
$53.2tn
Residential construction
172,820
Building permits
What can construction trends tell you about a state’s economy?
In Florida, non-residential construction was $38,234.0tn in 2026, which ranks it 22nd out of all 50 US states. Residential construction was $53.2tn in 2026, which places Florida 24th out of all 50 US states. The number of building permits issued in Florida in 2026 was 172,820, representing a -3.7% annualized growth rate between 2021 and 2026.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in Florida, and compare it to trends in the number issued in the United States as a whole, using the chart below.
State economic profile
Florida Population Statistics
Which Counties in Florida have the Largest Populations?
The counties with the highest populations in Florida are Miami-Dade County, Broward County and Hillsborough County, which had populations of 2,699,132, 1,993,094 and 1,606,455 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Miami-Dade | 2.7m | 0.2% | 11.1% |
| Broward | 2.0m | 0.5% | 8.2% |
| Hillsborough | 1.6m | 1.5% | 6.6% |
| Palm Beach | 1.6m | 0.9% | 6.5% |
| Orange | 1.5m | 1.2% | 6.3% |
| Duval | 1.1m | 1.2% | 4.4% |
| Pinellas | 963.2k | 0.1% | 4.0% |
| Polk | 912.2k | 3.7% | 3.8% |
| Lee | 895.3k | 2.4% | 3.7% |
| Pasco | 705.7k | 3.7% | 2.9% |
| Brevard | 681.0k | 1.9% | 2.8% |
| Volusia | 624.3k | 1.9% | 2.6% |
| Seminole | 499.7k | 1.0% | 2.0% |
| Sarasota | 498.0k | 2.0% | 2.0% |
| Osceola | 487.5k | 3.6% | 2.0% |
| Manatee | 480.6k | 2.9% | 2.0% |
| Lake | 466.9k | 3.2% | 1.9% |
| Marion | 446.6k | 2.9% | 1.8% |
| Collier | 429.1k | 2.0% | 1.8% |
| St. Lucie | 418.4k | 3.8% | 1.7% |
| St. Johns | 365.6k | 4.5% | 1.5% |
| Escambia | 333.2k | 0.6% | 1.4% |
| Leon | 298.8k | 0.2% | 1.2% |
| Alachua | 292.3k | 0.7% | 1.2% |
| Clay | 247.2k | 2.1% | 1.0% |
State economic profile
Florida Demographics
In Florida, 37.5% of the population has a Bachelors or higher. The largest ethnic group in Florida is White, accounting for 49.2% of the state's population.
Education level in Florida
| Education level | Share (%) |
|---|---|
| Bachelors or higher | 37.5 |
| Other | 62.5 |
Race in Florida
| Race | Share (%) |
|---|---|
| White | 49.2 |
| Hispanic | 30.1 |
| Black | 15.1 |
| Asian | 3.4 |
| Other | 2.3 |
Florida State industry reports
IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level, with accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 642 Florida industry reports.
Other states to explore
Compare Florida’s economy with other states in the United States.
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