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Broward County adds 12,500 jobs year over year
 
Published Friday, April 19, 2019

(Fort Lauderdale, FL –– Broward County’s job report indicated a 3.1 percent unemployment rate in March 2019. This rate was 0.4 percentage points lower than the region’s year ago rate of 3.5 percent. Nonagricultural employment increased by 12,500 jobs (+1.5 percent) over the year, with an employment of 862,700 in the Ft. Lauderdale-Pompano Beach-Deerfield Beach MSA (Broward County). The region’s jobless rate was 0.2 percentage points lower than the state rate (3.3 percent). The labor force was 1,033,300, up 1,761 (+0.2) over the year. There were 32,081 unemployed residents in the region.

“We’re very pleased to continue to see favorable overall job growth, and to outpace the state in annual job growth rates in several industry sectors,” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell. “Our pace of growth in these sectors is a testament 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 faster annual job growth rate than the statewide rate in other services (+5.0 percent); financial activities (+3.8 percent); education and health services (+3.8 percent); and information (+0.5 percent) in March 2019. The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had the highest annual job growth compared to all metro areas in the state in other services (+1,900 jobs.) 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 financial activities (+2,300 jobs) in March 2019. The education and health services industry in the Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division gained 4,200 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 (+4,500 jobs); Education and Health Services (+4,200 jobs); Financial Activities (+2,300 jobs); Other Services (+1,900 jobs); Trade, Transportation, and Utilities (+1,400 jobs); Manufacturing (+400 jobs);  Construction (+100 jobs); and Information (+100 jobs). The industries that lost jobs over the year were Government (-400 jobs) and Leisure and Hospitality (-2,000 jobs).

  

March 2018 to March 2019

Industry

Job Change (% Change)

Professional and Business Services

4,500

(+3.0%)

Education and Health Services

4,200

(+3.8%)

Financial Activities

2,300

(+3.8%)

Other Services

1,900

(+5.0%)

Trade, Transportation, and Utilities

1,400

(+0.7%)

Manufacturing

400

(+1.4%)

Construction

100

(+0.2%)

Information

100

(+0.5%)

Government

-400

(-0.4%)

Leisure and Hospitality

-2,000

(-2.0%)

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

The major sectors that gained jobs from February 2019 to March 2019 were Leisure and Hospitality (+1,000 jobs); Government (+600 jobs); Other Services (+600 jobs); Education and Health Services (+500 jobs); and Financial Activities (+200 jobs.) The major sectors that lost jobs were Construction (-200 jobs); Information (-200 jobs); Trade, Transportation, and Utilities (-1,300 jobs); and Professional and Business Services (-2,400 jobs.)


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