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Broward County adds 18,800 jobs year over year
 
Published Friday, November 16, 2018

(Fort Lauderdale, FL) - Broward County’s job report indicated a 2.8 percent unemployment rate in October 2018. This rate was 0.8 percentage point lower than the region's year ago rate of 3.6 percent. Nonagricultural employment increased by 18,800 jobs (+2.2 percent) over the year, with an employment of 857,900 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 (3.0 percent). The labor force was 1,046,368, up 14,649 (+1.4) over the year. There were 29,495 unemployed residents in the region.

“We’re very pleased to continue to see strong year over year overall job growth,” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell. “It is especially gratifying that the job growth is across numerous occupational sectors, which is a good indication of our success in diversifying Broward’s economy working with our partners.”

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 (+9.1 percent) in October 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 trade, transportation, and utilities (+3,800 jobs); professional and business services (+3,000 jobs) and government (+500 jobs) in October 2018.

The industries gaining in jobs over the year were: construction (+4,100 jobs); trade, transportation, and utilities (+3,800 jobs); other services (+3,500 jobs); professional and business services (+3,000 jobs); education and health services (+1,800 jobs); financial activities (+1,000 jobs); manufacturing (+800 jobs); government (+500 jobs); and information (+400 jobs). The leisure and hospitality (-100 jobs) industry lost jobs over the year. 

 

October 2017 to October 2018

Industry

Job Change (% Change)

Construction

+4,100

  (+8.6%)

Trade, Transportation and Utilities

+3,800

  (+2.0%)

Other Services

+3,500

  (+9.1%)

Professional and Business Services

+3,000

  (+2.0%)

Education and Health Services

+1,800

  (+1.6%)

Financial Activities

+1,000

  (+1.7%)

Manufacturing

+800

  (+2.9%)

Government

+500

  (+0.5%)

Information

+400

  (+2.0%)

Leisure and Hospitality

-100

  (-0.1%)

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

The major sector that gained jobs from September 2018 to October 2018 was professional and business services (+3,500 jobs); education and health services (+2,500 jobs); trade, transportation and utilities (+1,800 jobs); other services (+1,400 jobs); information (+200 jobs); manufacturing (+200 jobs); and government (+100 jobs). The sectors that lost jobs were construction (-100 jobs); and leisure and hospitality (-1,200 jobs).

 

September 2018 to October 2018

Industry

Job Change (% Change)

Professional and Business Services

+3,500

(+2.3%)

Education and Health Services

+2,500

(+2.2%)

Trade, Transportation, and Utilities

+1,800

(+1.0%)

Other Services

+1,400

(+3.5%)

Information

+200

(+1.0%)

Manufacturing

+200

(+0.7%)

Government

+100

(+0.1%)

Construction

-100

(-0.2%)

Leisure and Hospitality

-1,200

(-1.3%)

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


Florida’s seasonally adjusted unemployment rate for October 2018 was 3.4 percent, which is 345,000 jobless Floridians out of a labor force of 10,246,000. Florida’s seasonally adjusted total nonagricultural employment was 8,847,300 in October 2018, a gain of 17,800 jobs over the year (+0.2 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 0.1 percentage point from the September 2018 rate of 3.9 percent. Except for September 2017, Florida’s over-the-year job growth rate had exceeded the nation’s rate since May 2012.

For Palm Beach County, the unemployment rate in the West Palm Beach metro area was 3.1 percent in October 2018. This rate was 0.7 percentage point lower than the region's year ago rate of 3.8 percent. In October 2018 nonagricultural employment in the West Palm Bch-Boca Raton-Delray Bch Metro Division was 633,000, an increase of 16,100 jobs (+2.6 percent) over the year. In October 2018, the labor force was 734,193, up 11,228 (+1.6) over the year. There were 22,415 unemployed residents in the region.

For Miami-Dade County, the unemployment rate was 3.6 percent in October 2018. This rate was 1.1 percentage point lower than the region's year ago rate of 4.7 percent. In October 2018, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,209,100, an increase of 29,100 jobs (+2.5 percent) over the year. In October 2018, the labor force was 1,357,854, down -28,806 (-2.0) over the year. There were 48,791 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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