FloridaCommerce Announces Fort Lauderdale Area’s Labor Force Up 2.9 Percent Over the Year in January 2024

Fort Lauderdale, Fla. — Today, FloridaCommerce announced the Fort Lauderdale area’s labor force increased by 2.9 percent (+30,606) over the year in January 2024. Private sector employment increased by 16,500 jobs, an increase of 2.1 percent over the year in January 2024.

The industry gaining the most jobs over the year was trade, transportation, and utilities, increasing by 7,400 jobs. In January 2024, the Fort Lauderdale metro area led the metro areas in job gains over the year in trade, transportation, and utilities; government, increasing by 4,400 jobs; and other services, increasing by 2,300 jobs. The Fort Lauderdale area unemployment rate was 3.1 percent in January 2024, up 0.3 percentage point from the January 2023 rate of 2.8 percent.

Florida’s private sector job growth rate increased by 0.4 percent (+37,900 jobs) in January 2024, double the national rate of 0.2 percent over the same period. Florida’s economic data continues to indicate economic stability and confidence among Florida’s workforce as the state’s labor force grew by 2.2 percent (+243,000) over the year in January 2024, faster than the national over-the-year rate of 0.8 percent, including 16,000 net new workforce participants in January 2024.

In January, the education and health services sector gained the most jobs among all major industries, adding 9,700 jobs from the previous month, followed by a uniquely elevated month for leisure and hospitality. Critics initially claimed leisure and hospitality would be negatively impacted by SB 1718, which made using E-Verify mandatory for any employer with 25 or more employees, but in fact, the leisure and hospitality industry has surpassed pre-enactment levels, adding 9,400 jobs in January 2024.

Florida’s statewide unemployment rate has been lower than the national rate for 39 consecutive months. The national unemployment rate was 3.7 percent for January 2024, 0.6 percentage point higher than Florida’s rate.
  
Data in the month of January continues to indicate there are many job opportunities available for Floridians throughout the state, with more than 405,000 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 January 2024 jobs reports by region, please see below: 

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

To view January 2024 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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