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Broward County adds 35,100 jobs year over year
 
Published Monday, October 22, 2018

(Fort Lauderdale, FL - Broward County’s job report indicated a 2.8 percent unemployment rate in September 2018. This rate was 0.9 percentage point lower than the region's year ago rate of 3.7 percent. Nonagricultural employment increased by 35,100 jobs (+4.3 percent) over the year, with an employment of 852,400 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 (3.7 percent). The labor force was 1,044,868, up 9,484 (+0.9) over the year. There were 29,295 unemployed residents in the region.

“As indicated by the year over year job growth, Broward’s economy continues to be very strong,” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell. “We’re certainly pleased with the year over year percentage of growth and the large number of jobs added across numerous industries.  We thank our many partners for their help in continuing to strengthen and diversify Broward County’s economy and making it among the leaders in the state in job creation.”

Data and Analysis

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 (+11.0 percent) in September 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 professional and business services (+7,800 jobs) and mining, logging, and construction (+7,600 jobs) in September 2018. 

The construction (+17.2 percent); other services (+11.0 percent); information (+3.0 percent) and government (+0.7 percent) 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 (+7,800 jobs); construction (+7,600 jobs); trade, transportation, and utilities (+4,800 jobs); leisure and hospitality (+4,500 jobs); other services (+4,100 jobs); education and health services (+3,200 jobs); manufacturing (+1,100 jobs); financial activities (+700 jobs); government (+700 jobs); and information (+600 jobs).

 

September 2017 to September 2018

Industry

Job Change (% Change)

Professional and Business Services

+7,800

  (+5.4%)

Construction

+7,600

  (+17.2%)

Trade, Transportation and Utilities

+4,800

  (+2.6%)

Leisure and Hospitality

+4,500

  (-5.0%)

Other Services

+4,100

  (+11.0%)

Education and Health Services

+3,200

  (+2.9%)

Manufacturing

+1,100

  (+4.1%)

Government

+700

  (+0.7%)

Financial Activities

+700

  (+1.2%)

Information

+600

  (+3.0%)

 

Source: Florida Department of Economic Opportunity, Bureau of Labor Market Statistics

The major sector that gained jobs from August 2018 to September 2018 was professional and business services (+3,300 jobs); other services (+2,000 jobs); government (+1,300 jobs); construction (+900); and financial activities (+100). The sectors that lost jobs were leisure and hospitality (-100 jobs); information (-100 jobs); manufacturing (-200 jobs); education and health services (-500); and trade, transportation and utilities (-800).

 

August 2018 to September 2018

Industry

Job Change (% Change)

Professional and Business Services

+3,300

(+2.2%)

Other Services

+2,000

(+5.1%)

Government

+1,300

(+1.3%)

Construction

+900

(+1.8%)

Financial Activities

+100

(+0.2%)

Leisure and Hospitality

-100

(-0.1%)

Information

-100

(-0.5%)

Manufacturing

-200

(-0.7%)

Education and Health Services

-500

(-0.4%)

Trade, Transportation, and Utilities

-800

(-0.4%)

Source: Florida Department of Economic Opportunity, Bureau of Labor Market Statistics

Florida’s seasonally adjusted unemployment rate for September 2018 was 3.5 percent, which is 358,000 jobless Floridians out of a labor force of 10,244,000. Florida’s seasonally adjusted total nonagricultural employment was 8,842,400 in September 2018, a gain of 407,300 jobs over the year (+4.8 percent). 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 point from the September 2017 rate of 3.9 percent. As of September 2018, Florida's unemployment rate has declined or held steady over the year for 96 consecutive months.

For Palm Beach County, the unemployment rate in the West Palm Beach metro area was 3.1 percent in September 2018. This rate was 1.0 percentage point lower than the region's year ago rate of 4.1 percent. In September 2018 nonagricultural employment in the West Palm Bch-Boca Raton-Delray Bch Metro Division was 624,100, an increase of 22,400 jobs (+3.7 percent) over the year. In September 2018, the labor force was 728,201, up 1,408 (+0.2) over the year. There were 22,701 unemployed residents in the region.

For Miami-Dade County, the unemployment rate was 3.6 percent in September 2018. This rate was 1.2 percentage point lower than the region's year ago rate of 4.8 percent. In September 2018, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,195,800, an increase of 50,200 jobs (+4.4 percent) over the year. In September 2018, the labor force was 1,405,132, down -24,359 (-1.7) over the year. There were 49,975 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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