FloridaCommerce announced today that the Fort Lauderdale metro area led all metro areas in job gains over the year in several industry sectors for August 2024. The sectors with notable increases include government (+4,500 jobs), other services (+4,400 jobs), and trade, transportation, and utilities (+4,300 jobs). The private sector employment in the Fort Lauderdale area reached 823,000 in August 2024, marking an increase of 20,200 jobs or a growth rate of 2.5% over the previous year.
The unemployment rate in Fort Lauderdale was reported at 3.5% for August 2024, a slight increase from the August 2023 rate of 3.3%. The labor force in the area also grew by 0.4%, adding 3,902 individuals over the year.
Statewide data shows that Florida's private sector job growth continues to surpass the national average with a growth rate of 2.1% compared to the national rate of 1.4% since August 2023. This success is attributed to strategic investments in workforce education and development aimed at creating high-demand, high-wage jobs.
Florida's overall unemployment rate stands at 3.3%, nearly one percentage point lower than the national average of 4.2%. The state has maintained a lower unemployment rate than the national average for 46 consecutive months. Over this period, Florida employers have added jobs consistently with only two exceptions out of the last fifty-two months.
In terms of industry-specific growth within Florida for August 2024, leisure and hospitality saw the largest increase with an addition of 7,300 jobs (a monthly growth of +0.6%). Education and health services followed closely behind with an addition of 3,900 jobs (a monthly growth of +0.3%). Additionally, Florida’s labor force grew by approximately 7,000 individuals or +0.1% since August last year.
Governor Ron DeSantis has declared September as Workforce Development Month to highlight ongoing investments in workforce education totaling more than $8.5 billion since his tenure began in 2019. These investments encompass:
- Nearly $400 million allocated towards workforce and infrastructure development for the semiconductor industry since 2022.
- Over $200 million dedicated to expanding Career and Technical Education programs via the Workforce Development Capitalization Grant Program.
- More than $257 million awarded through the Florida Job Growth Grant Fund aimed at enhancing public infrastructure and workforce education opportunities.
These efforts have led to significant increases in various apprenticeship-related metrics:
- A rise by 45% in registered apprentices.
- A surge by 40% in apprenticeship and pre-apprenticeship programs.
- A boost by over double (110%) in apprenticeable occupations.
Florida holds leading positions nationally across several metrics:
- Ranked #1 for talent development.
- Ranked #1 for higher education.
- Rated as having the top economy nationwide by U.S News & World Report and CNBC.
- Leading new business formations with over three million formed since January
2019 and more than four hundred thousand established already this year.
Job creators continue to invest heavily into Florida's economy due to confidence driven by these robust developments which create high-skill/high-wage job opportunities ensuring long-term economic resilience for residents statewide through various available resources such as:
- Employ Florida: Connecting job seekers with training/education options along with employment prospects while linking employers directly upskilled talents;
- CareerSource local centers offering tailored career counseling/resume assistance/job placement support;
- ApprenticeFlorida promoting state-wide expansion within apprenticeships jointly supported via Department Of Education/FloridaCommerce/CareerSource partnerships;
- VeteransFlorida aiding military veterans transitioning back into civilian life connecting them relevantly aligned roles using acquired military skillsets alongside Military Family Employment Advocacy Program delivering priority workforce services specifically towards active-duty family members based out career center locations throughout State regions
Data indicates availability exceeding needs based upon postings currently listing upwards figures approximating four hundred thousand online open positions ensuring accessible pathways towards gainful employments those seeking work can utilize myriad supportive avenues made possible courtesy continued legislative backing coupled progressive forward-looking policy implementations
For detailed reports regarding regional specific employment statistics refer visiting below-provided links accordingly segmented per metropolitan zone inclusive but not limited further geographic demarcations:
Fort Lauderdale
Jacksonville
Miami
Orlando
Pensacola
Southwest Florida
Tampa
West Palm Beach
Further details including comprehensive insights concerning labor market/economic analysis accessible via official website www.floridajobs.org/labor-market-information/labor-market-information press releases/monthly-releases additionally supplemented visual aids facilitating user-friendly interpretative breakdowns presented through provided video tutorials delineating respective dataset comprehensions readily viewable under “Florida Insight” section therein
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