Un­em­ploy­ment falls be­low 4 per­cent

State gains 215,400 jobs over the year

Sun Sentinel Broward Edition - - MONEY - By Mar­cia Her­oux Pounds Staff writer

Un­em­ploy­ment sank to postre­ces­sion lows in Broward and Palm Beach coun­ties in April, fall­ing be­low the 4 per­cent mark for the first time since 2007, the state said Fri­day.

Broward’s job­less rate was 3.8 per­cent com­pared with 4.4 per­cent a year ago. The Palm Beach rate was 3.9 per­cent com­pared with 4.4 per­cent in 2016.

The last time Broward’s rate was be­low 4 per­cent was in Oc­to­ber 2007; the last timePalm Beach County’s rate fell be­lowthat mark was in May 2007, ac­cord­ing to Florida’s De­part­ment of Eco­nomic Op­por­tu­nity.

Mi­ami-Dade County’s rate was 5 per­cent com­pared with 5.3 per­cent in April 2016.

“The Florida mar­ket is get­ting more en­trants but is able to pro­duce jobs at a fast enough pace for the un­em­ploy­ment rate not to go up,” said Sean Snaith, econ­o­mist for the Univer­sity of Cen­tral Florida.

But over­all, South Florida’s growth was slower than the state as a whole, Snaith said.

PalmBeach County stood­out in tourism and hos­pi­tal­ity jobs.

Snaith said Broward and Mi­ami­had­weaker tourism job re­sults for the month.

Broward saw a 3.2 per­cent in­crease in job cre­ation over the year: 10,000 jobs were added in busi­ness and pro­fes­sional ser­vices; 6,000 in education and health ser­vices; 3,100 in trade, trans­porta­tion and util­i­ties; 2,700 in con­struc­tion; 2,400 in gov­ern­ment; 1,400 in other ser­vices; 800 in leisure and hos­pi­tal­ity; and 300 in man­u­fac­tur­ing.

Fi­nan­cial ac­tiv­i­ties lost 300 jobs over the year.

Palm Beach County saw a 2.6 in­crease in jobs over the year: 4,900 in leisure and hos­pi­tal­ity; 3,400 in busi­ness and pro­fes­sional ser­vices; 2,800 in con­struc­tion; 2,200 in education and health ser­vices; 1,300 in gov­ern­ment; 900 in trade, trans­porta­tion and util­i­ties; 700 in other ser­vices; and 400 in man­u­fac­tur­ing.

Fi­nan­cial ac­tiv­i­ties lost800jobs and in­for­ma­tion lost 200 jobs over the year.

Mi­ami-Dade County sawan in­crease of 1.6 per­cent in jobs over the year: 6,400 in trade, trans­porta­tio­nan­du­til­i­ties; 6,400in education and health; 2,600 in leisure and hos­pi­tal­ity; 2,200 in gov­ern­ment; 1,800 in other ser­vices; 300 in pro­fes­sional and busi­ness ser­vices; and200in­man­u­fac­tur­ing.

Con­struc­tion lost 800 jobs, fi­nan­cial ac­tiv­i­ties lost 300jobs; and in­for­ma­tion lost 200 jobs over the year.

Florida gained 215,400jobs over the year, an­in­creaseof2.6per­cent. The state’s com­pa­ra­ble un­em­ploy­ment rate was 4.0 per­cent, down from4.6 per­cent a year ago.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.