This week, The Daily Wire shared why Florida is experiencing a red-hot economy after Gov. Ron DeSantis opted his state out of the federal unemployment bonuses. It cites FGA’s recent research that found Florida’s work-first policies, low taxes, limited regulations, and support for entrepreneurs left the state positioned to thrive, even during a pandemic. According to the research, unemployment costs dropped 86 percent after Gov. DeSantis announced Florida was eliminating the bonus.
More from The Daily Wire:
“The Foundation for Government Accountability—a Florida-based think tank working to reform welfare initiatives—compiled data showing that DeSantis’ decision to remove his state from the enhanced handouts paid significant dividends.
“For instance, hiring increased after the state left the program:
‘From late May—when Gov. DeSantis announced he was ending the $300 weekly unemployment bonus—through late August, Florida employers hired nearly 1.3 million new workers. Nearly 400,000 of these new hires were recorded in the first three weeks following the unemployment bonus’s elimination. As the bonus ended, employers’ hiring rates spiked, allowing them to fill needed open jobs. For the first time in months, the number of unfilled positions in Florida began to decline in August, as more Floridians left unemployment and returned to work.’
“Likewise, citizens launched tens of thousands of new businesses:
‘With Floridians off of unemployment rolls and back in the workforce, businesses can truly thrive, including new businesses. In fact, entrepreneurs created nearly 150,000 new businesses since the unemployment bonus ended — in no small part thanks to pro-entrepreneur initiatives passed in the most recent legislative session. More businesses are created in Florida than in any other state in America, with a new Florida start-up launched an average of every 46 seconds in 2021.’”