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Broward County adds 14,100 jobs year over year
 
Published Tuesday, July 31, 2018

(Fort Lauderdale, FL) - Broward County’s job report indicated a 3.7 percent unemployment rate in June 2018.  This rate was 0.3 percentage point lower than the region’s year-ago rate of 4 percent.  Nonagricultural employment increased by 14,100 jobs (+1.7 percent) over the year, with an employment of 846,500 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 (3.9 percent).  Out of a labor force of 1,047,309, up 14,165 (+1.4) over the year, there were 38,354 unemployed Broward County residents.

“We’re very pleased to continue to see positive job growth in Broward County and more residents finding jobs,” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell. “We continue to be among the leaders in the state in job creation and we thank our many partners for their help in improving Broward County’s economy.”

Data and Analysis

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 other services (+2,900 jobs) and government (+800 jobs) in June 2018.  The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had the fastest annual job growth rate compared to all the metro areas in the state in other services (+7.5 percent).

The construction (+8.8 percent); other services (+7.5 percent); and government (+0.8 percent) industries grew faster in the metro area than statewide over the year. The industries gaining in jobs over the year were: construction (+4,100 jobs); professional and business services (+3,300 jobs); other services (+2,900 jobs); financial activities (+1,700 jobs); trade, transportation, and utilities (+1,100 jobs); government (+800 jobs); manufacturing (+200 jobs); and leisure and hospitality (+100 jobs). Education and health services (-100 jobs) lost jobs over the year. The information industry was unchanged over the year.

 

 

May 2017 to May 2018

Industry

Job Change (% Change)

Construction

+4,100

  (+8.8%)

Professional and Business Services

+3,300

  (+2.2%)

Other Services

+2,900

  (+7.5%)

Financial Activities

+1,700

(+2.9%)

Trade, Transportation and Utilities

+1,100

(+0.6%)

Government

+800

  (+0.8%)

Manufacturing

+200

  (+0.7%)

Leisure and Hospitality

+100

  (+0.1%)

Education and Health Services

-100

(-0.1%)

Source: U.S. Department of Labor, Bureau of Labor Statistics

The major sector that gained jobs from May 2018 to June 2018 was trade, transportation and utilities (+800 jobs); manufacturing (+400 jobs); leisure and hospitality (+300 jobs); and financial activities (+200 jobs). The sectors that lost jobs were professional and business services (-1,000 jobs); education and health services (-900 jobs); and information (-100 jobs). The construction industry remained unchanged. 

 

May 2018 to June 2018

Industry

Job Change (% Change)

Trade, Transportation and Utilities

+800

(+0.4%)

Manufacturing

+400

(+1.4%)

Leisure and Hospitality

+300

  (+0.3%)

Financial Activities

+200

  (+0.3%)

Information

-100

  (+0.5%)

Education and Health Services

-900

(-0.8%)

Professional and Business Services

-1,000

(-0.6%)

Source: U.S. Department of Labor, Bureau of Labor Statistics

Florida’s seasonally adjusted unemployment rate for June 2018 was 3.8 percent, which is 387,000 jobless Floridians out of a labor force of 10,233,000. Florida’s seasonally adjusted total nonagricultural employment was 8,759,400 in June 2018, an increase of 170,500 jobs (+2.0 percent) over the year. Florida’s over-the-year job growth rate has been positive every month since August 2010, except for September 2017, when Florida lost jobs due to the hurricane.  Florida’s unemployment rate was down 0.3 percentage points from the June 2017 rate of 4.1 percent. As of June 2018, Florida's unemployment rate has declined or held steady over the year for 93 consecutive months.

For Palm Beach County, the unemployment rate in the West Palm Beach metro area was 3.9 percent in June 2018. This rate was 0.3 percentage point lower than the region’s year-ago rate of 4.2 percent.  In June 2018, nonagricultural employment in the West Palm Beach-Boca Raton-Delray Beach Metro Division was 617,800, an increase of 3,100 jobs (+0.5 percent) over the year.  In June 2018, the labor force was 728,659 in the metro area, up 923 (+0.1 percent) over the year. There were 28,321 unemployed residents in the region.

For Miami-Dade County, the unemployment rate was 4.1 percent in June 2018.  This rate was 0.8 percentage point lower the region’s year-ago rate of 4.9 percent. In June 2018, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,183,600, an increase of 16,900 jobs (+1.4 percent) over the year. In June 2018, the labor force was 1,439,909, up +15,952 (+1.1 percent) over the year. There were 59,025 unemployed residents in the region.

In Broward County, we continue to see year over year job growth 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 a 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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