News

Broward County adds 14,700 jobs year over year
 
Published Wednesday, March 13, 2019

(Fort Lauderdale, FL9) – Broward County’s job report indicated a 3.8 percent unemployment rate in January 2019. This rate was 0.1 percentage points lower than the region’s year ago rate of 3.9 percent. Nonagricultural employment increased by 14,700 jobs (+1.7 percent) over the year, with an employment of 857,100 in the Ft. Lauderdale-Pompano Beach-Deerfield Beach MSA (Broward County). The region’s jobless rate was 0.1 percentage point lower than the state rate (3.9 percent). The labor force was 1,034,772, up 15,403 (+1.5) over the year. There were 39,136 unemployed residents in the region.

“Broward’s economy continues to be very positive,” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell. “We remain among the leaders in the state in job creation and we thank our many partners for their help in growing and diversifying Broward County’s economy.”

Data and Analysis

The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had faster annual job growth rate than the statewide rate in financial activities (+4.0 percent); manufacturing (+2.9 percent); and trade, transportation, and utilities (+1.8 percent) in January 2019. The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had the second largest annual job growth compared to all the metro areas in the state in trade, transportation, and utilities (+3,500 jobs) and education and health services (+2,800 jobs); and financial activities (+2,400 jobs) in January 2019. The information industry in the Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division gained 300 jobs, the third highest annual job growth of all the metro areas statewide.

The industries gaining in jobs over the year were:  professional and business services (+6,300 jobs); trade, transportation, and utilities (+3,500 jobs); education and health services (+2,800 jobs); financial activities (+2,400 jobs); other services (+1,100 jobs); manufacturing (+800 jobs); and information (+300 jobs). The industries that lost jobs over the year were:  leisure and hospitality (-2,200 jobs) and construction (-300 jobs).

  

January 2018 to January 2019

Industry

Job Change (% Change)

Professional and Business Services

6,300

  (+4.2%)

Trade, Transportation, and Utilities

3,500

  (+1.8%)

Education and Health Services

2,800

  (+2.6%)

Financial Activities

2,400

  (+4.0%)

Other Services

1,100

  (+2.9%)

Manufacturing

800

  (+2.9%)

Information

300

  (+1.5%)

Government

0

  (+0.0%)

Construction

-300

  (-0.6%)

Leisure and Hospitality

-2200

  (-2.3%)

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

From December to January, all major sectors saw a decline in jobs.  They were information (-200 jobs); government (-300 jobs); manufacturing (-400 jobs); other services (-400 jobs); financial activities (-600 jobs); education and health services (-900 jobs); leisure and hospitality (-1,000 jobs); professional and business services (-1,000 jobs); construction (-2,200 jobs); and trade, transportation, and utilities (-4,700 jobs). 

 

December 2018 to January 2019

Industry

Job Change (% Change)

Information

-200

(-1.0%)

Government

-300

(-0.3%)

Manufacturing

-400

(-1.4%)

Other Services

-400

(-1.0%)

Financial Activities

-600

(-1.0%)

Education and Health Services

-900

(-0.8%)

Leisure and Hospitality

-1,000

(-1.1%)

Professional and Business Services

-1,000

(-0.6%)

Construction

-2,200

(-4.5%)

Trade, Transportation, and Utilities

-4,700

(-2.4%)

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

Florida’s seasonally adjusted unemployment rate for January 2019 was 3.4 percent, which is 352,000 jobless Floridians out of a labor force of 10,320,000. Florida’s seasonally adjusted total nonagricultural employment was 8,900,300 in January 2019, a gain of 209,500 jobs over the year (+2.4 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 up .1 percent compared to the December 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 3.9 percent in January 2019. This rate was 0.1 percentage point lower than the region's year ago rate of 4.0 percent. In December 2018 nonagricultural employment in the West Palm Bch-Boca Raton-Delray Bch Metro Division was 642,200, an increase of 14,400 jobs (+2.3 percent) over the year. In January 2019, the labor force was 737,995, up 13,344 (+1.8 percent) over the year. There were 28,549 unemployed residents in the region.

For Miami-Dade County, the unemployment rate was 3.9 percent in January 2019. This rate was .2 percentage point lower than the region's year ago rate of 4.1 percent. In January 2019, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,211,200, an increase of 30,000 jobs (+2.5 percent) over the year. In December 2018, the labor force was 1,444,831, up 64,133 (4.6 percent) over the year. There were 55,748 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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