(FORT LAUDERDALE, FL) – Broward County’s job report indicated a 3.2 percent unemployment rate in February 2022. This rate was 2.9 percentage points lower than the region's year ago rate of 6.1 percent. The labor force was 1,041,649, up 27,531 (+2.7 percent) over the year. There were 33,467 unemployed residents in the region.  Nonagricultural employment in the Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division was 868,100, an increase of 40,500 jobs (4.9 percent) over the year. 

“We’re very pleased to see that Broward County’s February unemployment rate has reached pre-pandemic levels and are confident that the strong interest from companies looking at Greater Fort Lauderdale as a location of choice and the local expansions in our target industries will continue supporting the overall year-over-year job growth trends,” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell.  “We thank our many partners, investors and leaders at Broward County and our cities, who have been working with us to grow and diversify our economy over these recent challenging years.”

Data and Analysis

 In the month of February, all industries gained jobs compared to the previous year in Broward County.

The information (+9.2 percent) and government (+0.4 percent) industries grew faster in the metro area than statewide over the year.

Non-Agricultural employment shows month to month growth in the majority of sectors except for Construction with showing a slight decrease (-200, 0.4%).

  

Florida’s seasonally adjusted unemployment rate was 3.3 percent in February 2022, down 0.2 percentage point from the January 2022 rate, and down 2.3 percentage points from a year ago. There were 348,000 jobless Floridians out of a labor force of 10,471,000. The U.S. unemployment rate was 3.8 percent in February.  Florida’s seasonally adjusted total nonagricultural employment was 9,227,500 in February 2022, an increase of 51,000 jobs (+0.6 percent) over the month. The state gained 530,200 jobs over the year, an increase of 6.1 percent.  Nationally, the number of jobs rose 4.6 percent over the year. 

Florida’s total nonagricultural and private sector employment surpassed the February 2020 (pre-pandemic) level in October 2021 and labor force surpassed the February 2020 level in June 2021.

The unemployment rate in Palm Beach County was 3.0 percent in February 2022. This rate was 2.1 percentage points lower than the region's year ago rate of 5.1 percent. The labor force was 747,351, up 25,118 (+3.5 percent) over the year. There were 22,366 unemployed residents in the region.  In February 2022, nonagricultural employment in the West Palm Bch-Boca Raton-Delray Bch Metro Division was 656,600, an increase of 32,600 jobs (+5.2 percent) over the year. 

For Miami-Dade County, the unemployment rate was 2.8 percent in February 2022. This rate was 3.8 percentage points lower than the region's year ago rate of 6.6 percent. In February 2022, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,232,200, an increase of 81,700 jobs (+7.1 percent) over the year. In February 2022, the labor force was 1,356,336, up 54,884 (+4.2 percent) over the year. There were 37,660 unemployed residents in the region.

Below is a chart that indicates the monthly unemployment rates for the tri-county area, the state of Florida and the U.S. for the past 24 months.

 

The Greater Fort Lauderdale Alliance (www.gflalliance.org) is Broward County’s official public/private partnership for economic development.  Its mission is to lead Broward County in building a stronger and more diverse economy by stimulating the creation of new jobs and capital investment while facilitating the growth and retention of businesses in Broward County.   Services offered by the Alliance include assistance with business relocation or expansion and site selection; incentive programs and information; market research; and serving as a liaison for workforce development between CareerSource Broward, educational institutions, and the business community.  To learn more, call (954) 524-3113.

 

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