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Broward Unemployment Dropping, Job Creation Climbing

The unemployment rate across Broward County was 3.7 percent in June 2018 compared to 3.2 percent in May, according to CareerSource Broward. This rate was 0.3 percentage point lower than the region's rate a year ago at 4 percent. The region's June 2018 unemployment rate was 0.2 percentage point lower than the state rate of 3.9 percent. The labor force was 1,047,309 -- up 14,165 over the year. As of June 2018, there were 38,354 unemployed residents in the region.

While Broward County's unemployment rate trends downward over the past year, the Fort Lauderdale region continues to be among the top five Florida metro areas for private sector-job growth. According to Governor Rick Scott, the Fort Lauderdale area added 13,300 new private-sector jobs in the past year. Fort Lauderdale’s unemployment rate remained a low 3.7 percent in June, down 0.3 percentage point from one year ago. Statewide, Florida businesses created 16,900 new jobs in June bringing the total number of new private-sector jobs created in Florida to 1,554,800 since December 2010.

The industries with the highest growth over the year in Fort Lauderdale were construction with 4,100 new jobs and professional and business services with 3,300 new jobs. Fort Lauderdale remains among the top four metro areas in online job demand in Florida with 20,624 openings in June. Also, the area had the fourth-highest number of openings for high-skill, high-wage occupations in science, technology, engineering, and mathematics with 5,313 job ads.

As of June, Florida’s unemployment rate remained at a low of 3.8 percent, a drop of 7.0 percentage points since December 2010; this drop is faster than the national decline of 5.3 percentage points. In the past year, 130,000 people entered Florida’s labor force, a growth of 1.3 percent, which is greater than the national labor force growth rate of 1.2 percent.

 

*Sources: CareerSource Broward, Florida Dept. of Economic Opportunity

Posted by: Mike Cobelo @ 10:00:00 am  Comments (0)
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