In his presidential bid, Florida Gov. Ron DeSantis is sure to court Republican primary voters by touting the socially conservative policies he passed through the legislature. But he also has another story to tell: His stewardship of Florida’s economy over the past four and a half years.
When we looked at Florida’s economic performance on DeSantis’ watch, we found that on most key metrics, DeSantis has something to crow about.
“Overall, I would say that Gov. DeSantis has been a good steward,” said William J. Luther, a Florida Atlantic University economist. “He inherited a well-performing state and has generally ensured that the state continues to work well for its residents.”
Here’s a closer look at DeSantis’ economic record.
Employment
A key turning point for DeSantis came during the coronavirus pandemic, when he decided that opening the state to economic activity was worth the health risk. Florida ended up roughly in the top one-third of states for COVID-19 death rates with 112 deaths per 100,000 residents in 2021, according to the Centers for Disease Control and Prevention. But the economic benefits were clear.
Consider employment trends. After the pandemic hit, it took the United States until February 2022 to reach the same level of employment as in January 2019, the month DeSantis took office. By contrast, Florida had returned to that benchmark nine months earlier, in June 2021.
And Florida’s post-pandemic employment rebound was broad-based. Construction jobs only dipped below their January 2019 level for one month. Manufacturing returned to its January 2019 level after 11 months.
Even leisure and hospitality jobs, which are both crucial to Florida’s economy and were especially hard hit by pandemic-era social distancing, beat the national average. The sector matched its January 2019 level by July 2022, a rebound the national leisure and hospitality sector didn’t experience until April 2023.
Florida’s unemployment rate has also been lower than the national rate for most of DeSantis’ tenure.
Under DeSantis, another key measure — gross domestic product, the sum total of all economic activity within the state — has thrived. Adjusted for inflation, GDP has risen faster in Florida than it has for the nation as a whole. In fact, over time, Florida has been pulling away from the nation.
“Keeping businesses open and allowing people to work was certainly helpful,” said Randall G. Holcombe, a Florida State University economist.
Population growth and in-migration
DeSantis often touts the population flow into Florida from other states as a major plus for the state.
“People are voting with their feet, and it’s not because Florida is a welfare magnet,” Holcombe said.
DeSantis has often singled out two solidly Democratic states — California and New York — as foils. He has a point: Both California and New York have experienced slow or even negative population growth in recent years. Florida, by contrast, has continued its rapid growth during DeSantis’ tenure.
Our Sources
Federal Reserve Bank of St. Louis, "All Employees, Leisure and Hospitality," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "All Employees: Total Nonfarm in Florida," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "All Employees: Construction in Florida," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "All Employees: Leisure and Hospitality in Florida," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "All Employees: Manufacturing in Florida," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "All Employees: Retail Trade in Florida," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "All Employees, Total Nonfarm," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Unemployment Rate in Florida," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Unemployment Rate," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Real Gross Domestic Product: All Industry Total in Florida," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Real Gross Domestic Product," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Housing Inventory: Median Listing Price in Florida," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Housing Inventory: Median Listing Price in the United States," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "100*Resident Population in Florida/Population," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Resident Population in New York," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Resident Population in California," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Resident Population in Florida," accessed May 22, 2023
Federal Reserve Bank of St. Louis, "Average Hourly Earnings in Florida and U.S.," accessed May 22, 2023
Bureau of Economic Analysis, "Per capita disposable personal income in Florida and the U.S.," accessed May 22, 2023
Centers for Disease Control and Prevention, COVID-19 Mortality by State, accessed May 22, 2023
Email interview with Richard Florida, author of "The Rise of the Creative Class" and professor at the University of Toronto, May 18, 2023
Email interview with William J. Luther, Florida Atlantic University economist, May 18, 2023
Email interview with Randall G. Holcombe, Florida State University economist, May 18, 2023
Email interview with Hakan Yilmazkuday, Florida International University economist, May 18, 2023