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Broward County Adds More Than 15,000 Jobs Since February 2018

Broward County’s job report indicated a 3.3 percent unemployment rate in February 2019. This rate was 0.3 percentage points lower than the region’s year ago rate of 3.6 percent. Nonagricultural employment increased by 15,400 jobs (+1.8 percent) over the year, with an employment of 862,900 in the Ft. Lauderdale-Pompano Beach-Deerfield Beach MSA (Broward County). The region’s jobless rate was 0.1 percentage point lower than the state rate (3.4 percent). The labor force was 1,039,151, up 11,155 (+1.1) over the year. There were 34,580 unemployed residents in the region.

The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had faster annual job growth rate than the statewide rate in professional and business services (+4.4 percent); other services (+4.2 percent); education and health services (+3.9 percent); financial activities (+3.7 percent); and information (+1.0 percent) in February 2019. The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division was tied for the highest annual job growth compared to all metro areas in the state in information (+200 jobs). The Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division had the second largest annual job growth compared to all the metro areas in the state in financial activities (+2,200 jobs) and other services (+1,600 jobs) in February 2019. The education and health services industry in the Ft. Lauderdale-Pompano Bch-Deerfield Bch Metro Division gained 4,300 jobs, the third highest annual job growth of all the metro areas statewide.

The industries gaining in jobs over the year were:  Professional and Business services (+6,700 jobs); Education and Health Services (+4,300 jobs); Trade, Transportation, and Utilities (+2,300 jobs); Financial Activities (+2,200 jobs); Other Services (+1,600 jobs); Construction (+600 jobs); Manufacturing (+500 jobs); and Information (+200 jobs). The industries that lost jobs over the year were Government (-400 jobs) and Leisure and Hospitality (-2,600 jobs).

Florida’s seasonally adjusted unemployment rate for February 2019 was 3.5 percent, which is 357,000 jobless Floridians out of a labor force of 10,343,000. Florida’s seasonally adjusted total nonagricultural employment was 8,921,600 in February 2019, a gain of 211,900 jobs over the year (+2.4 percent). Florida’s over-the-year job growth rate has been positive every month since August 2010, except for September 2017, when Florida lost jobs due to the hurricane. Florida’s unemployment rate was up .1 percent compared to the January 2019 rate of 3.4 percent. Except for September 2017, Florida’s over-the-year job growth rate had exceeded the nation’s rate since May 2012.

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

 

Posted by: Florida Department of Economic Opportunity @ 10:00:00 am  Comments (0)
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