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Broward County adds 11,200 jobs year over year
 
Published Thursday, January 2, 2020

(Fort Lauderdale, FL) – Broward County’s job report indicated a 2.6 percent unemployment rate in November 2019. This rate was 0.5 percentage points lower than the region’s year ago rate of 3.1 percent. Nonagricultural employment increased by 11,200 jobs (+1.3 percent) over the year, with an employment of 879,500 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 (2.7 percent). The labor force was 1,052,094, up 9,534 (+0.9) over the year. There were 27,798 unemployed residents in the region.

“We’re very pleased to continue to see strong overall job growth, and the robust job growth in Other Services and Financial Activities” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell. “The job growth continues to reflect 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 and all metro areas in Other Services (+8.7 percent; +3,400 jobs) and Financial Activities (+3.7 percent; +2,300 jobs) in November 2019.  The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had the second fastest annual job growth rate compared to all the metro areas in the state in other services (+8.7 percent) in November 2019.

The industries gaining in jobs over the year were: Other Services (+3,400 jobs); Education and Health Services (+3,300 jobs); Professional and Business Services (+2,800 jobs); Financial Activities (+2,300 jobs); Leisure and Hospitality (+1,600 jobs); and Construction (+100 jobs). The industries that lost jobs over the year were Trade, Transportation, and Utilities (-1,400 jobs); Manufacturing (-500 jobs); Information (-200 jobs); and government (-200 jobs).


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

The major sectors that gained or retained jobs from October 2019 to November 2019 were Trade, Transportation and Utilities (+4,400 jobs); Leisure and Hospitality (+ 800 jobs); Other Services (+800 jobs); Professional and Business Services (+500 jobs) and Information (+100 jobs). The major sectors that lost jobs were Education and Health Services (-900 jobs); Manufacturing (-400 jobs); Financial Activities (- 100 jobs); and, Construction (-100 jobs). 

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

Florida’s unemployment rate of 3.1 percent is a historic low, recorded only twice in over 40 years, and the first time since March 2006. Florida’s seasonally adjusted total nonagricultural employment was 9,089,900 in November 2019, an increase of 12,100 jobs (+0.1 percent) over the month. The state gained 217,400 jobs over the year, an increase of 2.5 percent. Nationally, the number of jobs rose 1.5 percent over the year. Except for September 2017, Florida’s over-the-year job growth rate has exceeded the nation’s rate since April 2012.

For Palm Beach County, the unemployment rate in the West Palm Beach metro area was 2.8 percent in November2019. This rate was 0.5 percentage point lower than the region's year ago rate of 3.3 percent. The labor force was 739,579, up 834 (+0.1 percent) over the year. There were 20,828 unemployed residents in the region. In November 2019 nonagricultural employment in the Palm Beach county was 650,000, an increase of 4,200 jobs (+0.7 percent) over the year.

For Miami-Dade County, the unemployment rate was 2.7 percent in November 2019. This rate was 0.6 percentage point lower than the region's year ago rate of 3.3 percent. In November 2019 nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,245,600, an increase of 24,700 jobs (+2.0 percent) over the year. In November 2019, the labor force was 1,430,295, up 43,622 (+3.0 percent) over the year. There were 38,784 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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