FloridaCommerce Announces Fort Lauderdale Area Labor Force Up 3.1 Percent Over the Year in July 2023

Fort Lauderdale, Fla. — Today, FloridaCommerce announced the Fort Lauderdale area labor force is up 3.1 percent (+33,344) over the year in July 2023. Florida’s economic data continues to indicate economic stability and confidence among Florida’s workforce as the state sees continued labor force growth and record business formations. Florida has seen more business formations than any other state since 2020, with 382,799 new business formations in 2023 alone.

The Fort Lauderdale area added 17,200 new private sector jobs over the year in July 2023, a 2.2 percent increase. The industries gaining the most jobs over the year were trade, transportation, and utilities increasing by 6,000 jobs; and professional and business services increasing by 4,700 jobs. The Fort Lauderdale area unemployment rate was 3.0 percent in July 2023, up 0.1 percentage point from the July 2022 rate of 2.9 percent.

Florida’s private sector job growth rate increased by 0.5 percent (+42,800 jobs) in July 2023, five times faster than the national rate of 0.1 percent over the same time period. Florida’s economic data continues to indicate economic stability and confidence among Florida’s workforce as the state’s labor force grew by 2.6 percent (+280,000) over the year in July 2023, faster than the national over-the-year rate of 1.9 percent.

• Florida’s unemployment rate is 2.7 (2.66% compared to prior month’s 2.63%) in July 2023, marking 33 consecutive months below the national unemployment rate of 3.5 percent and fourteen consecutive months as the lowest among the nation’s 10 largest states.
• Florida added 42,800 private sector jobs in July 2023, which was the largest gain in private sector jobs since September 2022 and Florida’s 12^th highest month of growth over the last 33 months.
• Florida’s labor force grew by 42,000, Florida’s 6^th highest month of growth over the last 33 months.

Florida’s private sector employment grew by 3.3 percent (+277,000 jobs) over the year in July 2023, faster than the national rate of 2.2 percent over the same time period. Florida has outperformed the nation in over-the-year private sector job growth for 28 consecutive months in July 2023. Florida’s labor force grew by 0.4 percent over the month in July 2023, faster than the national labor force growth rate of 0.1 percent over the same time period.

Data in the month of July continues to indicate there are many job opportunities available for Floridians throughout the state, with more than 486,000 jobs posted online. Floridians in search of work and new job opportunities are encouraged to turn to the CareerSource Florida network for help. Floridians can find guidance on how to register with Employ Florida and search listings of available local job openings. Career seekers also can improve their employability by perfecting resume writing and interviewing skills, establishing career goals, and pursuing customized career training. These services are provided at no cost to job seekers.

To view the July 2023 jobs reports by region, please see below:

• Fort Lauderdale
• Jacksonville
• Miami
• Orlando
• Pensacola
• Southwest Florida
• Tampa
• West Palm Beach

To view the July 2023 employment data, visit: www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

Visit Florida Insight for more information on labor market and economic data. Additionally, the Department has provided a video to assist users in explaining the data provided through Florida Insight.

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