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Broward County adds 16,400 jobs year over year
 
Published Monday, May 20, 2019

 

(Fort Lauderdale, FL – May 20, 2019) – Broward County’s job report indicated a 2.8 percent unemployment rate in April 2019. This rate was 0.5 percentage points lower than the region’s year ago rate of 3.3 percent. Nonagricultural employment increased by 16,400 jobs (+1.9 percent) over the year, with an employment of 867,000 in the Ft. Lauderdale-Pompano Beach-Deerfield Beach MSA (Broward County). The region’s jobless rate was 0.1 percentage points lower than the state rate (2.9 percent). The labor force was 1,028,942, up 1,562 (+0.2) over the year. There were 28,670 unemployed residents in the region.

“We’re pleased to see favorable overall job growth continue, and to remain a leader in the state in annual job growth rates in several industry sectors,” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell. “Our 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 the highest annual job growth compared to all the metro areas in the state in other services (+2,200 jobs) in April 2019. 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 education and health services (+5,200 jobs) in April 2019. The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division was tied for the third highest annual job growth compared to all the metro areas in the state in financial activities (+1,300 jobs) in April 2019. The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had the third fastest annual job growth rate compared to all the metro areas in the state in other services (+5.8 percent) and education and health services (+4.7 percent) in April 2019.

The industries gaining in jobs over the year were:  Professional and Business services (+5,400 jobs); Education and Health Services (+5,200 jobs); Other Services (+2,200 jobs); Financial Activities (+1,300 jobs); Construction (+1,200 jobs); Trade, Transportation, and Utilities (+800 jobs); Manufacturing (+600 jobs); and Leisure and Hospitality (+300 jobs). The industry that lost jobs over the year was Government (-600 jobs).  The information industry was unchanged over the year.

  

April 2018 to April 2019

Industry

Job Change (% Change)

Professional and Business Services

5,400

(+3.6%)

Education and Health Services

5,200

(+4.7%)

Other Services

2,200

(+5.8%)

Financial Activities

1,300

(+2.1%)

Construction

1,200

(+2.5%)

Trade, Transportation, and Utilities

800

(+.4%)

Manufacturing

600

(+2.2%)

Leisure and Hospitality

300

(+.3%)

Government

-600

(-.6%)

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

The major sectors that gained jobs from March 2019 to April 2019 were Leisure and Hospitality (+1,500 jobs); Construction (+1,300 jobs); Education and Health Services (+1,300 jobs); Professional and Business Services (+1,100 jobs); Other Services (+500 jobs); and Manufacturing (+200 jobs).  The major sectors that lost jobs were Financial Activities (-300 jobs); Information (-300 jobs); Government (-600 jobs); and Trade, Transportation, and Utilities (-900 jobs).

  

March 2019 to April 2019

Industry

Job Change (% Change)

Leisure and Hospitality

1,500

(+1.6%)

Construction

1,300

(+2.7%)

Education and Health Services

1,300

(+1.1%)

Professional and Business Services

1,100

(+.7%)

Other Services

500

(+1.3%)

Manufacturing

200

(+.7%)

Financial Activities

-300

(-.5%)

Information

-300

(-1.5%)

Government

-600

(-.6%)

Trade, Transportation, and Utilities

-900

(-.5%)

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

Florida’s seasonally adjusted unemployment rate for April 2019 was 3.4 percent, which is 357,000 jobless Floridians out of a labor force of 10,335,000. Florida’s seasonally adjusted total nonagricultural employment was 8,942,700 in April 2019, a gain of 206,100 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 down .1 percent compared to the March 2019 rate. Except for September 2017, Florida’s over-the-year job growth rate has exceeded the nation’s rate since May 2012.

For Palm Beach County, the unemployment rate in the West Palm Beach metro area was 2.9 percent in April 2019. This rate was 0.4 percentage points lower than the region's year ago rate of 3.5 percent. In April 2019, nonagricultural employment in the West Palm Bch-Boca Raton-Delray Bch Metro Division was 649,400, an increase of 17,600 jobs (+2.8 percent) over the year. In April 2019, the labor force was 733,679, up 5,904 (+.8 percent) over the year. There were 21,099 unemployed residents in the region.

For Miami-Dade County, the unemployment rate was 3.0 percent in April 2019. This rate was .9 percentage points lower than the region's year ago rate of 3.9 percent. In April 2019, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,221,400, an increase of 27,800 jobs (+2.3 percent) over the year. In April 2019, the labor force was 1,421,837, up 29,492 (2.1 percent) over the year. There were 43,040 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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