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Broward County adds 13,400 jobs year over year
 
Published Friday, January 24, 2020

(Fort Lauderdale, FL – January 24, 2020) – Broward County’s job report indicated a 2.5 percent unemployment rate in December 2019. This rate was 0.6 percentage points lower than the region’s year ago rate of 3.1 percent. Nonagricultural employment increased by 13,400 jobs (+1.5 percent) over the year, with an employment of 882,200 in the Ft. Lauderdale-Pompano Beach-Deerfield Beach MSA (Broward County). The region’s jobless rate was equal to the state rate of 3.1 percent.  The labor force was 1,049,805, up 13,021 (+1.3 percent) over the year. There were 26,705 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”, 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 the highest annual job growth rate than the statewide rate and all metro areas in Other Services (+5.4 percent; +2,100 jobs) in December 2019.  The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had the second highest annual job growth compared to all the metro areas in the state in Financial Activities (+ 2.7 percent, +1,700 jobs). The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had the third highest and fastest annual job growth compared to all the metro areas in the state in Education and Health Services (+ 4.8 percent, +5,400 jobs) in December 2019.

The industries gaining in jobs from December 2018 to December 2019 were: Education and Health Services (+5,400 jobs); Leisure and Hospitality (+3,800 jobs); Other Services (+2,100 jobs); Financial Activities (+1,700 jobs); Professional and Business Services (+500 jobs); Construction (+300 jobs); Trade, Transportation, and Utilities (+100 jobs); and Government (+100 jobs). The industries that lost jobs over the year were Trade, Transportation, and Utilities (-1,400 jobs); Manufacturing (-400 jobs); and Information (-200 jobs).

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

The major sectors that gained or retained jobs from November 2019 to December 2019 were Trade, Transportation and Utilities (+2,700 jobs); Leisure and Hospitality (+1,000 jobs); were Education and Health Services (+600 jobs); Financial Activities (+300 jobs); Manufacturing (+200 jobs); and Government (+100 Jobs).The major sectors that lost jobs were Other Services (-1,600 jobs); Professional and Business Services (-1,100 jobs) and; Construction (-300 jobs).


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

Florida’s seasonally adjusted unemployment rate was 3.0 percent in December 2019, down 0.1 percentage point from the November 2019 rate, and down 0.3 percentage point from a year ago. This is the first time the State recorded the unprecedented low unemployment rate of 3.0 since the series began in 1976. There were 311,000 jobless Floridians out of a labor force of 10,511,000. The U.S. unemployment rate was 3.5 percent in December. Florida’s seasonally adjusted total nonagricultural employment was 9,104,000 in December 2019, an increase of 16,000 jobs (+0.2 percent) over the month. The state gained 212,000 jobs over the year, an increase of 2.4 percent. Nationally, the number of jobs rose 1.4 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 2.7 percent in December 2019. This rate was 0.5 percentage point lower than the region's year ago rate of 3.2 percent. The labor force was 740,986, up 3,787 (+0.5) over the year. There were 19,868 unemployed residents in the region. In December 2019 nonagricultural employment in the Palm Beach county was 654,500, an increase of 5,600 jobs (+0.9 percent) over the year.

For Miami-Dade County, the unemployment rate was 1.8 percent in December 2019. This rate was 1.7 percentage point lower than the region's year ago rate of 3.5 percent. In December 2019 nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,248,900, an increase of 25,900 jobs (+2.0 percent) over the year. In December 2019, the labor force was 1,426,150, up 22,857 (+1.6 percent) over the year. There were 25,207 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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