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Broward County adds 15,800 jobs year over year
 
Published Friday, January 25, 2019

Fort Lauderdale, FL  – Broward County’s job report indicated a 3.1 percent unemployment rate in December 2018. This rate was 0.3 percentage points lower than the region’s year ago rate of 3.4 percent. Nonagricultural employment increased by 15,800 jobs (+1.9 percent) over the year, with an employment of 866,300 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 (3.3 percent). The labor force was 1,038,689, up 16,082 (+1.6) over the year. There were 32,211 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. “The job growth continues to be spread over a number of industries, which points to 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 (+6.4 percent) in December 2018. 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 trade, transportation, and utilities (+3,900 jobs) and other services (+2,500 jobs) in December 2018. The information industry in the Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division gained 300 jobs, the second highest annual job growth of all the metro areas statewide.

The industries gaining in jobs over the year were: trade, transportation, and utilities (+3,900 jobs); professional and business services (+2,900 jobs); education and health services (+2,800 jobs); other services (+2,500 jobs); construction (+2,200 jobs); financial activities (+600 jobs); government (+400 jobs); manufacturing (+300 jobs); and information (+300 jobs). The leisure and hospitality (-100 jobs) industry lost jobs over the year.

  

December 2017 to December 2018

Industry

Job Change (% Change)

Trade, Transportation and Utilities

+3,900

  (+2.0%)

Professional and Business Services

+2,900

  (+1.9%)

Education and Health Services

+2,800

  (+2.5%)

Other Services

+2,500

  (+6.4%)

Construction

+2,200

  (+4.5%)

Financial Activities

+600

  (+1.0%)

Government

+400

  (+0.4%)

Manufacturing

+300

  (+0.5%)

Information

+300

  (+1.5%)

Leisure and Hospitality

-100

  (-0.1%)

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

The major sectors that gained jobs from November 2018 to December 2018 were trade, transportation and utilities (+1,500 jobs); education and health services (+1,100 jobs); financial activities (+700 jobs) and professional and business services (+700 jobs). The sectors that lost jobs were information (-200 jobs); other services (-200 jobs); construction (-300 jobs); manufacturing (-300 jobs); government (-500 jobs); and leisure and hospitality (-1,400 jobs).

 

 

November 2018 to December 2018

Industry

Job Change (% Change)

Trade, Transportation, and Utilities

+1,500

(+0.8%)

Education and Health Services

+1,100

(+1.0%)

Financial Activities

+700

(+1.2%)

Professional and Business Services

+700

(+0.4%)

Information

-200

(-1.0%)

Other Services

-200

(-0.5%)

Construction

-300

(-0.6%)

Manufacturing

-300

(-1.1%)

Government

-500

(-0.5%)

Leisure and Hospitality

-1,400

(-1.5%)

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

Florida’s seasonally adjusted unemployment rate for December 2018 was 3.3 percent, which is 335,000 jobless Floridians out of a labor force of 10,278,000. Florida’s seasonally adjusted total nonagricultural employment was 8,891,200 in December 2018, a gain of 231,200 jobs over the year (+2.7 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 even compared to the November 2018 rate of 3.3 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 3.3 percent in December 2018. This rate was 0.2 percentage point lower than the region's year ago rate of 3.5 percent. In December 2018 nonagricultural employment in the West Palm Bch-Boca Raton-Delray Bch Metro Division was 645,500, an increase of 17,900 jobs (+2.9 percent) over the year. In December 2018, the labor force was 735,317, up 16,264 (+2.3) over the year. There were 23,945 unemployed residents in the region.

For Miami-Dade County, the unemployment rate was 3.6 percent in December 2018. This rate was 1.1 percentage point lower than the region's year ago rate of 4.7 percent. In December 2018, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,224,900, an increase of 23,700 jobs (+2.0 percent) over the year. In December 2018, the labor force was 1,400,132, up 2,641 (0.2) over the year. There were 50,142 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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