South Florida Jobs, Jobs, Jobs
Bottom Line: Florida’s overall unemployment rate stayed at 3.4% for a second straight month. Great news for a state generally, as it’s well below the national average and also close to a record low for the entire state. There are only 12 months in Florida’s history with a lower unemployment rate, all between 2005-2006, before the bursting of the housing bubble. That’s also what’s so great about the progress we’ve been making on jobs in our state. It’s based on reality – not a bubble. Statewide Florida added 11,500 private sector jobs last month. Florida’s job growth rate year over year has been 59% faster than the national average. That gives you an idea of how impressive the Florida story has been. And the news remains strong closer to home as well. Seasonal factors led to a slightly higher unemployment rate in the tri-county area, but job growth and unemployment rates all remain better than the national average and are significantly lower than a year ago.
- Broward: 3.3%
- Miami-Dade: 3.2%
- Palm Beach: 3.6%
Also, there are more job openings in South Florida than unemployed people looking for work. This has only happened eight times previously and shows a super-strong setup for the second half of the year in our state.