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Broward County adds 13,800 jobs year over year
 
Published Tuesday, August 21, 2018

 

(Fort Lauderdale, FL) - Broward County’s job report indicated a 3.7 percent unemployment rate in July 2018. This rate was 0.4 percentage point lower than the region’s year-ago rate of 4.1 percent.  Nonagricultural employment increased by 13,800 jobs (+1.7 percent) over the year, with an employment of 842,100 in the Ft. Lauderdale-Pompano Beach-Deerfield Beach MSA (Broward County). The region’s jobless rate was 0.3 percentage point lower than the state rate (4.0 percent). The labor force was 1,047,879, up 13,916 (+1.3) over the year. There were 38,923 unemployed Broward County residents.

“Broward’s economy continues to be very positive,” 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 third fastest annual job growth rate compared to all the metro areas in the state in construction (+8.8 percent) in July 2018. The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had the third highest annual job growth compared to all the metro areas in the state in construction (+3,800 jobs). 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 professional and business services (+4,600 jobs); other services (+1,900 jobs); and government (+600 jobs) in July 2018.

The construction (+8.1 percent); other services (+4.9 percent); manufacturing (+3.7 percent); professional and business services (+3.1%); and government (+0.6%) industries grew faster in the metro area than statewide over the year. The industries gaining in jobs over the year were: professional and business services (+4,600 jobs); construction (+3,800 jobs); education and health services (+3,100 jobs); other services (+1,900 jobs); financial activities (+1,100 jobs); manufacturing (+1,000 jobs); and government (+600 jobs). The leisure and hospitality (-2,100 jobs); trade, transportation, and utilities (-100 jobs); and information (-100 jobs) industries lost jobs over the year.  

 

July 2017 to July 2018

Industry

Job Change (% Change)

Professional and Business Services

+4,600

(+3.1%)

Construction

+3,800

(+8.1%)

Education and Health Services

+3,100

(+2.8%)

Other Services

+1,900

(+4.9%)

Financial Activities

+1,100

(+1.9%)

Manufacturing

+1,000

(+3.7%)

Government

+600

(+0.6%)

Trade, Transportation and Utilities

-100

(-0.1%)

Information

-100

(-0.5%)

Leisure and Hospitality

-2,100

(-2.2%)

Source: Florida Department of Economic Opportunity, Bureau of Labor Market Statistics
The major sector that gained jobs from June 2018 to July 2018 was education and health services (+1,000 jobs); professional and business services (+600 jobs); and manufacturing (+300 jobs). The sectors that lost jobs were information (-100 jobs); financial activities (-500 jobs); government (-900 jobs); trade, transportation and utilities (-1,200 jobs); construction (-500 jobs); other services (-1,900 jobs); and leisure and hospitality (-3,300 jobs). The construction industry remained unchanged. 

 

June 2018 to July 2018

Industry

Job Change (% Change)

Education and Health Services

+1,000

(+0.9%)

Professional and Business Services

+600

(+0.4%)

Manufacturing

+300

(+1.1%)

Information

-100

(-0.5%)

Financial Activities

-500

(-0.8%)

Construction

-500

(-1.0%)

Government

+600

(+0.6%)

Trade, Transportation and Utilities

-1,200

(-0.6%)

Other Services

-1,900

(-4.5%)

Leisure and Hospitality

-3,300

(-3.5%)

Source: Florida Department of Economic Opportunity, Bureau of Labor Market Statistics
Florida’s seasonally adjusted unemployment rate for July 2018 was 3.7 percent, which is 383,000 jobless Floridians out of a labor force of 10,246,000. Florida’s seasonally adjusted total nonagricultural employment was 8,800,700 in July 2018, an increase of 210,600 jobs (+2.5 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 0.4 percentage points from the July 2017 rate of 4.1 percent. As of July 2018, Florida's unemployment rate has declined or held steady over the year for 94 consecutive months.

For Palm Beach County, the unemployment rate in the West Palm Beach metro area was 4.0 percent in July 2018. This rate was 0.4 percentage point lower than the region’s year-ago rate of 4.4 percent. In July 2018, nonagricultural employment in the West Palm Beach-Boca Raton-Delray Beach Metro Division was 617,300, an increase of 7,700 jobs (+1.3 percent) over the year. In July 2018, the labor force was 730,741 in the metro area, up 5,416 (+0.7 percent) over the year. There were 29,522 unemployed residents in the region.

For Miami-Dade County, the unemployment rate was 4.3 percent in July 2018. This rate was 0.5 percentage point lower the region’s year-ago rate of 4.8 percent. In July 2018, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,181,600, an increase of 24,300 jobs (+2.1 percent) over the year. In July 2018, the labor force was 1,437,870, down -11,490 (-0.8 percent) over the year. There were 61,290 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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