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Job Market Stays Strong to Start 2020, Greater Fort Lauderdale Adds 13,000 Jobs

The Florida Department of Economic Opportunity announced Broward County's jobless rate was 3% in January 2020. This rate was 0.7% lower than our region's year ago rate.

Non-agricultural employment in the Fort Lauderdale-Pompano Beach-Deerfield Beach Metro Division was 869,300 in January, an increase of 13,600 jobs (+1.6%) over the year. The unemployment rate within the Fort Lauderdale-Pompano Beach-Deerfield Beach Metro Division was also 3% for January 2020.

As Greater Fort Lauderdale continues to add to its workforce, wage increases remained unchanged in Broward County according to the latest numbers. In a one year span, workers experienced an average wage increase of 3.3%. That percentage equates to the average worker seeing an annual wage increase of approximately $1,670. 

Inside the Numbers

(Fort Lauderdale-Pompano Beach-Deerfield Beach Metro Division)

  • The professional and business services (+3.3 percent); trade, transportation, and utilities (+3.1 percent); financial activities (+2.2 percent); and other services (+2.2 percent) industries grew faster in the metro area than statewide over the year.
  • Highest annual job growth compared to all the metro areas in the state in trade, transportation, and utilities (+6,100 jobs) in January 2020.
  • Fastest annual job growth rate compared to all the metro areas in the state in trade, transportation, and utilities (+3.1 percent) in January 2020.
  • Third highest annual job growth compared to all the metro areas in the state in other services (+800 jobs) in January 2020.
  • The industries gaining in jobs over the year were: trade, transportation, and utilities (+6,100 jobs); professional and business services (+5,000 jobs); financial activities (+1,400 jobs); construction (+900 jobs); other services (+800 jobs); government (+400 jobs); and manufacturing (+100 jobs).
  • The leisure and hospitality (-500 jobs); information (-400 jobs); and education and health services (-200 jobs) industries lost jobs over the year.

Across the State

 

Florida’s seasonally adjusted unemployment rate was 2.8 percent in January 2020, down 0.1% from the revised December 2019 rate, and down 0.6 percentage point from a year ago. There were 291,000 jobless Floridians out of a labor force of 10,440,000.

Posted by: Mike Cobelo/Florida Dept. of Economic Opportunity @ 10:00:00 am  Comments (0)
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