(FORT LAUDERDALE, FL) – Broward County’s job report indicated a 2.9% unemployment rate in December 2024. This rate was 0.5 percent lower than the region's month ago of 3.4%, 0.1 percent greater than the region’s year ago of 2.8% and 0.2 percentage point lower than the state rate of 3.1%. The labor force was 1,085,153, down 7,650 (-0.7%) over the year. There were 31,278 unemployed residents in the region.  

Nonagricultural employment in the Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division was 948,400, an increase of 13,000 jobs (+1.4%) over the year. 

“Once again, Broward County added more than 13,000 nonagricultural jobs over the year in December 2024. The interest from companies looking at Greater Fort Lauderdale as a location of choice and the local expansions in our targeted industries remains strong and continues supporting the overall year-over-year job growth trends,” said Greater Fort Lauderdale Alliance President/CEO, Bob Swindell.  “We thank our many partners, investors and leaders at Broward County and our municipalities, who have been working with us to grow and diversify the economy.” 

Data and Analysis

As of December, the Other Services (+8.0%), Government (+4.1%); and Trade, Transportation and Utilities (+1.4%) industries grew faster in the metro area than statewide over the year.  

The Fort Lauderdale-Pompano Beach-Deerfield Beach MD had the highest annual job growth compared to all the metro areas in the state in the Government (+4,500 jobs) and Other Services (+3,000 jobs) industries. 

The Fort Lauderdale-Pompano Beach-Deerfield Beach MD had the fastest annual job growth rate compared to all the metro areas in the state in the Other Services (+8.0%) industry. 

Most of the industries gained jobs over the year, except for the Professional services (-2,200 jobs, -1.3%), Manufacturing (-600 jobs, -2.0%), and Financial Activities (-500 jobs, -0.7%) industries. 

Nonagricultural employment showed a month-to-month increase of 5,000 jobs. Majority of the sectors gained jobs and just three of them decreased in December 2024 compared to November 2024.

Source: Florida Department of Commerce, Bureau of Labor Market Statistics - Not Seasonally Adjusted

Florida’s seasonally adjusted unemployment rate was 3.4% in December 2024, unchanged from the November 2024 rate, and up 0.3 percentage point from a year ago. There were 377,000 jobless Floridians out of a labor force of 11,008,000. The U.S. seasonally adjusted unemployment rate was 4.1% in December. 

Florida’s seasonally adjusted total nonagricultural employment was 10,013,700 in December 2024, an increase of 18,000 jobs (+0.2%) over the month. The state gained 147,900 jobs over the year, an increase of 1.5%. Nationally, the number of jobs rose 1.4% over the year. 

Eight of ten major industries experienced positive over-the-year job growth in December 2024. 

The unemployment rate in Palm Beach County was 3.0% in December 2024. This rate was equal to the region's year ago rate of 3.0%. The labor force was 773,826, down 6,494 (-0.8%) over the year. There were 23,281 unemployed residents in the region.  In December 2024, nonagricultural employment in the West Palm Bch-Boca Raton-Delray Bch Metro Division was 712,300, an increase of 9,100 jobs (+1.3%) over the year.  

For Miami-Dade County, the unemployment rate was 2.5% in December 2024. This rate was 0.9 percentage points higher than the region's year ago rate of 1.6%. In December 2024, nonagricultural employment in the Miami-Miami Beach-Kendall Metropolitan Division was 1,356,700, an increase of 16,100 jobs (+1.2%) over the year. In December 2024, the labor force was 1,382,619, down 5,001 (-0.4%) over the year. There were 34,659 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.

Source: Florida Department of Commerce, Bureau of Labor Market Statistics 

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.

 

Show Other Stories