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Broward Unemployment Rate Dropping

Broward County’s job report indicated a 3.5 percent unemployment rate in August 2018. This rate was 0.5 percentage point lower than the region’s year-ago rate of 4.0 percent.  Non-agricultural employment increased by 10,600 jobs (+1.3 percent) over the year, with an employment of 845,700 in the Ft. Lauderdale-Pompano Beach-Deerfield Beach MSA (Broward County). The region’s jobless rate was 0.3 percentage point lower than the state rate (3.8 percent). The labor force was 1,033,196, up 4,385 (+0.4) over the year. There were 36,522 unemployed Broward County residents.

The Ft. Lauderdale-Pompano Beach-Deerfield Beach Metro area had the highest annual job growth rate compared to all the metro areas in the state in government (+8.8 percent) in July 2018. The Ft. Lauderdale-Pompano Beach-Deerfield Beach Metro area had the third highest annual job growth compared to all the metro areas in the state in mining, logging, and construction (+800) jobs in August 2018.

The construction (+8.4 percent) and government (+0.8 percent) industries grew faster in the metro area than statewide over the year. The industries gaining in jobs over the year were: construction (+3,900 jobs); education and health services (+2,000 jobs); trade, transportation, and utilities (+1,300 jobs); other services (+1,000 jobs); manufacturing (+900 jobs); professional and business services (+800 jobs); government (+800 jobs); and financial activities (+600 jobs). The leisure and hospitality (-700 jobs) lost jobs over the year. The information industry lost jobs over the year.

As a state, Florida's unemployment rate remained unchanged at 3.7% in August 2018.

Source: Florida Dept. of Economic Opportunity

Posted by: Mike Cobelo @ 5:00:00 pm  Comments (0)
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