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Broward County leads job growth in South Florida
 
Published Tuesday, May 23, 2017

(Fort Lauderdale, FL) - Broward County’s job report indicated a 3.8 percent unemployment rate in April 2017. This rate was 0.6 percentage point lower than the region’s year ago rate of 4.4 percent. Nonagricultural employment increased by 26,400 jobs (+3.2 percent) over the year, with an employment of 846,200 in the Ft. Lauderdale-Pompano Beach-Deerfield Beach MSA (Broward County). The region’s jobless rate was 0.2 percentage point lower than the state rate (4.0 percent). Out of a labor force of 1,029,711 there were 38,820 unemployed Broward County residents.

“We’re delighted to see that Broward County continues to lead job growth in South Florida with 26,400 jobs over the year and a 3.8 percent unemployment rate,” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell. “All 10 of the major Florida industries experienced positive over the year growth in April 2017, and this is a good indicator of the strength of our economy “

Data and Analysis

The Ft. Lauderdale-Pompano Beach-Deerfield metro area had the second fastest annual job growth compared to all the metro areas in the state in state in professional and business services (+6.9 percent) in April 2017. The Ft. Lauderdale‐Pompano Bch‐Deerfield Bch Metro Division had the highest annual job growth compared to all the metro areas in the state in professional and business services (+10,000 jobs) and government (+2,400 jobs) in April 2017. The Ft. Lauderdale‐Pompano Bch‐Deerfield Bch Metro Division had the second highest annual job growth compared to all the metro areas in the state in education and health services (+6,000 jobs) in April 2017. The professional and business services (+6.9 percent); education and health services (+5.7 percent); other services (+3.6 percent); and government (+2.3 percent) industries grew faster in the metro area than statewide over the year.

The major industry sectors that added jobs over the year in the metro were: professional and business services (+10,000 jobs); education and health services (+6,000 jobs); trade, transportation, and utilities (+3,100 jobs); construction (+2,700 jobs); government (+2,400 jobs); other services (+1,400 jobs); leisure and hospitality (+800 jobs); and manufacturing (+300 jobs). The financial activities (‐300 jobs) industry lost jobs over the year. The information industry was unchanged over the year.

 

April 2016 to April 2017

Industry

Job Change (% Change)

Professional and Business Services

+10,000

  (+6.9%)

Education and Health Services

+6,000

  (+5.7%)

Trade, Transportation and Utilities

+3,100

  (+1.7%)

Construction

+2,700

  (+6.3%)

Leisure and Hospitality

+800

  (+0.8%)

Manufacturing

+300

  (+1.1%)

Information

+0

  (+0.0%)

Financial Activities

-300

  (-0.5%)

The major sectors that gained jobs from March 2017 to April 2017 were professional and business services (+1,400 jobs); education and health services (+1,200 jobs); trade, transportation and utilities (+200 jobs); and financial activities (+100 jobs). Construction (+0 jobs); manufacturing (+0 jobs); and information (+0 jobs) remained unchanged. Leisure and hospitality lost jobs over the year.

 

March 2017 to April 2017

Industry

Job Change (% Change)

Professional and Business Services

+1,400

(+0.9%)

Education and Health Services

+1,200

(+1.1%)

Trade, Transportation and Utilities

+200

(+0.1%)

Financial Activities

+100

(+0.2%)

Construction

+0

(+0.0%)

Manufacturing

+0

(+0.0%)

Information

+0

(+0.0%)

Leisure and Hospitality

-1,000

(-1.0%)

Florida’s seasonally adjusted unemployment rate for April 2017 was 4.5 percent, which is 460,000 jobless Floridians out of a labor force of 10,142,000. Florida’s unemployment rate is down 0.3 percentage point from 4.8 percent in March 2017, and down 0.4 percentage from a year ago. Florida’s seasonally adjusted total nonagricultural employment was 8,552,500 in April 2017, an increase of 10,900 jobs (+0.1 percent) over the month. The state gained 215,400 jobs over the year, an increase of 2.6 percent. Florida’s over-the-year job growth rate has exceeded the nation’s rate since May 2012.

For Palm Beach County, the unemployment rate in the West Palm Beach metro area was 3.9 percent in April 2017. This rate was 0.5 percentage point lower than the region’s year ago rate of 4.4 percent. In April 2017, nonagricultural employment in the West Palm Beach-Boca Raton-Delray Beach Metro Division was 625,500, an increase of 15,600 jobs (+2.6 percent) over the year. Out of a labor force of 728,075 in the metro area, there were 28,202 unemployed residents in the region. For Miami-Dade County, the unemployment rate was 5.0 percent in April 2017. This rate was 0.3 percentage point lower than the region’s year ago rate of 5.3 percent. In April 2017, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,175,800, an increase of 18,700 jobs (+1.6 percent) over the year. Out of a labor force of 1,433,562 there were 70,969 unemployed residents in the region.

In Broward County, we see year over year job growth and continued improvement in the local economy. Target industries, identified by the Greater Fort Lauderdale Alliance, are adding jobs to the community. As the primary economic development organization for Greater Fort Lauderdale/Broward County, the Greater Fort Lauderdale Alliance continues to help companies create, expand and retain high-wage jobs and generate capital investment in high value targeted industries, developing more vibrant communities and improving the quality of life for our area’s citizens. For more information, visit www.gflalliance.org

 


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