FloridaCommerce Announces Fort Lauderdale Area Had the Fastest Over-the-Year Private Sector Job Growth Rate Compared to All Metro Areas

Fort Lauderdale, Fla. — Today, FloridaCommerce announced that the Fort Lauderdale area had the fastest over-the-year private sector job growth rate among all metro areas and gained the second highest number of private sector jobs over the year in December 2023. Private sector employment increased by 33,700 jobs, an increase of 4.2 percent over the year in December 2023. The Fort Lauderdale area’s labor force increased by 45,283 in December 2023, a 4.3 percent increase over the year.

The industry gaining the most jobs over the year was professional and business services, increasing by 14,000 jobs. In December 2023, the Fort Lauderdale metro area led the metro areas in job gains over the year in professional and business services. The Fort Lauderdale area unemployment rate was 2.8 percent in December 2023, up 0.6 percentage point from the December 2022 rate of 2.2 percent.

Florida’s December 2023 economic data continued to outperform the nation throughout the year, despite negative national headwinds caused by failed federal economic policies. Florida’s private sector jobs increased by 2.6 percent (221,500) over the year compared to the national rate of 1.5 percent over the same time period and over-the-year private sector job growth rate has exceeded the nations for 33 consecutive months. Florida’s labor force continues to grow, with 354,000 more people entering the labor force at an over-the-year growth rate of 3.3 percent, faster than the national growth rate of 1.5 percent.

Florida’s statewide unemployment rate has been lower than the national rate for 38 consecutive months, proof positive that Florida has continued to fight against negative economic headwinds. The national unemployment rate was 3.7 percent for December 2023, 0.7 percentage point higher than Florida’s rate. In December 2023, the leisure and hospitality sector gained the most jobs among all major industries, adding 4,800 jobs from the previous month, followed by manufacturing, adding 2,300 jobs.

Data from the month of December continues to indicate there are many job opportunities available for Floridians throughout the state, with more than 360,000 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 December 2023 jobs reports by region, please see below:

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

To view December 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, FloridaCommerce has provided a video to assist users in explaining the data provided through Florida Insight.

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