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Broward county loses 69,500 jobs year over year
Gains 17,500 jobs from May to June
 
Published Friday, July 31, 2020

DISCLAIMER:

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

 A STATEMENT FROM BOB SWINDELL:

“Our goal continues to be 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. 

(Fort Lauderdale, FL – July 20, 2020) – Broward County’s job report indicated a 11.8 percent unemployment rate in June 2020. This rate was 8.6 percentage points higher than the region's year ago rate of 3.2 percent. Nonagricultural employment in the Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division was 786,000, a decrease of 69,500 jobs (-8.1 percent) over the year. The labor force was 992,435, down 50,102 (-4.8 percent) over the year. There were 117,120 unemployed residents in the region.

Data and Analysis

Broward county is experiencing the negative effects of COVID -19 crisis across nearly all industries. All industries except Financial Activities lost jobs over the year. The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division was tied for the second highest annual job growth compared to all the metro areas in the state in financial activities (+100 jobs) in June 2020 and had the third fastest annual job growth rate compared to all metro areas in financial activities (+0.2 percent). 

Leisure and Hospitality industry was the most impacted sector, with a job decrease of 28.8%, which represented 28,000 less jobs in this sector.

All other industries also lost jobs over the year; Professional and Business Services (-6.4 percent, -9,700 jobs); Trade, Transportation, and Utilities (-4.1 percent, - 7,900 jobs); Education and Health Services (-6.6 percent, -7,400 jobs); Other Services (-18.3 percent, -6,900 jobs); Government (-3.8 percent, -3,800 jobs). Construction (-5.6 percent, -2,800 jobs); Information (-9.0%, -1,800 jobs); and Manufacturing (-4.5%, -1,300 jobs).

Source: Florida Department of Economic Opportunity, Bureau of Workforce Statistics and Economic Research. 

From May 2020 to June 2020, there was a total job gain of 17,500 jobs. These are the job impacts by sectors: Leisure and Hospitality had an increase of 15,600 jobs from May to June. The other sectors with increases were Trade, Transportation and Utilities (+4,800), Professional and Business Services (+1,600 jobs), Other Services (+600 jobs), Financial Activities  (+400 jobs), Education and Health Services (+300 jobs), Manufacturing (+300 jobs), and Construction (+100 jobs). Information remained stable with 0 jobs added or lost. Government experienced a decrease of 6,200 jobs.

Source: Florida Department of Economic Opportunity, Bureau of Workforce Statistics and Economic Research. 

Florida’s seasonally adjusted unemployment rate was 10.4 percent in June 2020, down 3.3 percentage points from the revised May 2020 rate, and up 7.2 percentage points from a year ago. There were 1,021,000 jobless Floridians out of a labor force of 9,770,000. The U.S. unemployment rate was 11.1 percent in June. Florida’s seasonally adjusted total nonagricultural employment was 8,396,900 in June 2020, an increase of 296,000 jobs (+3.7 percent) over the month. The state lost 541,800 jobs over the year, a decrease of 6.1 percent. Nationally, the number of jobs fell 8.6 percent over the year.

The unemployment rate in the Palm Beach County was 10.4 percent in June 2020. This rate was 6.9 percentage points higher than the region's year ago rate of 3.5 percent. The labor force was 678,071, down 54,135 (-7.4 percent) over the year. There were 70,533 unemployed residents in the region. In June 2020, nonagricultural employment in the West Palm Bch-Boca Raton-Delray Bch Metro Division was 575,200, a decrease of 54,900 jobs (-8.7 percent) over the year.

For Miami-Dade County, the unemployment rate was 11.5 percent in June 2020. This rate was 9.0 percentage points higher than the region's year ago rate of 2.5 percent. In June 2020, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,124,302, a decrease of 210,783 jobs (-15.8 percent) over the year. In June 2020, the labor force was 1,269,957, down 99,622 (-7.2 percent) over the year. There were 145,655 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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