Jobless claims fall

Unemployment rate drops to 4 percent in Broward, Palm Beach

Unemployment rate drops to 4 percent in Broward and Palm Beach counties in March.

Unemployment fell in South Florida in March to 4 percent in Broward, 4.2 percent in Palm Beach County, and 5.3 percent in Miami-Dade, the state said Friday.

The rate in Broward was the lowest since 3.9 percent in October 2007 and in Palm Beach County, the lowest since May 2007.

A year ago, the jobless rate was 4.5 percent in Broward and Palm Beach counties, and 5.5 percent in Miami-Dade.

Broward was one of the top three regions adding the most jobs in March, 27,800 jobs or an increase of 3.4 percent over last March. Orlando-area jobs were up 3.6 percent and Tampa-area jobs up 3.4 percent.

“Broward is certainly ahead of MiamiDade in terms of growth,” said Mekael Teshome, Florida economist for PNC Bank. “Broward’s advantages are a lower cost of doing business, population growth is a little stronger, and less exposure to international economies that may be weighing on Miami-Dade. So with those advantages, I’m not surprised to see Broward doing better.”

The county had the second-highest job growth in professional and business services, adding 9,600 jobs, an increase of 6.6 percent over the year. Broward also added 5,800 jobs over the year in education and health care; 3,500 in trade, transportation and utilities; 3,000 in construction; 2,300 in government; 2,100 in leisure and hospitality; 1,300 in other services; and 300 in manufacturing, according to the Florida Department of Economic Opportunity.

“Construction job growth is good. It signals that other sectors of the economy are doing well — housing must be doing well,” Teshome said.

But the financial activities sector lost 100 jobs over the year in Broward.

Palm Beach County added 3,000 jobs over the year in construction; 2,900 in leisure and hospitality; 2,700 in professional and business services; 2,700 in education and health services; 1,600 in government; 1,400 in trade, transportation and utilities; 700 in manufacturing; and 200 in other services.

Financial activities and information lost 800 jobs and 200 jobs, respectively, over the year in Palm Beach County.

Miami-Dade added 8,600 jobs in education and health services; 5,000 in professional and business services; 4,900 in trade, transportation and utilities; 2,900 in government; 2,800 in other services; 200 in leisure and hospitality; 100 in manufacturing; and 100 in information.

Construction and mining lost 700 jobs; and financial activities lost 500 jobs, both over the year.

Teshome