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Broward County loses 119,100 jobs year over year
 
Published Tuesday, May 26, 2020

DISCLAIMER: Please note that April 2020 statistics will not fully reflect the impact of the coronavirus (COVID-19) crisis, as the data collection period is only through the second week of each month (the week of the 12th of the Month).

 A STATEMENT FROM BOB SWINDELL:
“We in the Broward business community are doing everything we can to help our local companies through the coronavirus crisis.  Our goal is to assist businesses in the phased reopening approach in order to promote safety for our community and the successful recovery of our companies”, said Greater Fort Lauderdale Alliance President and CEO Bob Swindell.For continually updated information visit BizHelpBroward.com.  

Broward County loses 119,100 jobs year over year 

(Fort Lauderdale, FL – May 22, 2020) – Broward County’s job report indicated a 14.5 percent unemployment rate in April 2020. This rate was 11.7 percentage points higher than the region's year ago rate of 2.8 percent. Nonagricultural employment in the Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division was 744,000, a decrease of 119,100 jobs (-13.8 percent) over the year. The labor force labor force was 935,487, down 90,574 (-8.8 percent) over the year. There were 136,008 unemployed residents in the region. 

Data and Analysis

Broward county is experiencing the negative effects of COVID -19 crisis across all industries. All industries lost jobs over the year. Leisure and Hospitality industry was the most impacted sector, with a job decrease of 53.8%, which represented 52,700 less jobs in this sector. All other industries also lost jobs over the year; Other Services (-18.9 percent, -7,100 jobs); Trade, Transportation, and Utilities (- 8.8 percent, - 17,000 jobs); Education and Health Services (-14.3 percent, -16,100 jobs); Professional and Business Services (-10.4 percent, -15,800 jobs); Construction (- 9.8 percent, - 4,800 jobs); Manufacturing (- 12.8%, - 3,700 jobs); Information (-4.5%, 900 jobs); Government (-0.7 percent, -800 jobs), and; Financial Activities (-0.3%, - 200 jobs).

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

All sectors experienced significant job losses from March 2020 to April 2020, with a total job loss of 117,500 jobs. Similar to the annual results, Leisure and Hospitality was the most impacted sector in the county, with a decrease of 44,300 jobs from March to April. The other sectors were Trade, Transportation and Utilities (-21,900), Professional and Business Services (-19,500 jobs), Education and Health Services (- 13,800 jobs), Other Services (-6,100 jobs), Construction (- 4,100 jobs), Manufacturing (- 3,900 jobs), Financial Activities ( -2,500 jobs), Government ( -1,00 jobs) and Information (- 600 jobs).


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

Florida’s seasonally adjusted unemployment rate was 12.9 percent in April 2020, up 8.5 percentage points from the revised March 2020 rate of 4.4 percent, and up 9.6 percentage points from a year ago. There were 1,218,000 jobless Floridians out of a labor force of 9,438,000. The U.S. unemployment rate was 14.7 percent in April. Florida’s seasonally adjusted total nonagricultural employment was 7,910,200 in April 2020, a decrease of 1,066,100 jobs (-11.9 percent) over the month. The state lost 1,010,500 jobs over the year, a decrease of 11.3 percent. Nationally, the number of jobs fell 12.9 percent over the year.

The unemployment rate in the Palm Beach County was 13.9 percent in April 2020. This rate was 10.9 percentage point higher than the region's year ago rate of 3.0 percent. The labor force was 653,719, down 75,812 (-10.4) over the year. There were 91,134 unemployed residents in the region.  In April 2020, nonagricultural employment in the West Palm Bch-Boca Raton-Delray Bch Metro Division was 551,900, a decrease of 93,100 jobs (-14.4 percent) over the year. 

For Miami-Dade County, the unemployment rate was 11.9 percent in April 2020. This rate was 9.4 percentage point higher than the region's year ago rate of 2.5 percent. In April 2020, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,070,100, a decrease of 145,900 jobs (+12.0 percent) over the year. In April 2020, the labor force was 1,215,918, down 166,676 (- 13.9 percent) over the year. There were 144, 294 unemployed residents in the region.

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 capital investment in high value targeted industries, as well as assisting existing companies through the COVID-19 crisis. For more information, visit www.gflalliance.org.


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