West Palm Beach, Fla. (March 22, 2024) – Palm Beach County’s unemployment rate for February 2024 announced today is 3.3 percent, the same as January 2024, and above the year-ago rate of 2.7 percent, according to the latest reports released today by CareerSource Palm Beach County and Florida Department of Commerce (all numbers not seasonally adjusted):
Palm Beach County exhibited the fastest annual job growth rate among all metro areas in the state in the Government industry, with an increase of 4.7 percent, while also ranking second statewide in the Construction industry with a notable annual job growth rate of 4.9 percent.
Despite the collective belief that traditional industries like agriculture, construction, and tourism are the mainstays of Palm Beach County's economy, recent data from reliable sources like the U.S. Bureau of Labor Statistics shows a notable shift towards newer sectors. The health care and life science industry in Palm Beach County is a dynamic force, with nearly 100,000 employees earning impressive salaries in the $100,000s and with a total income of $7.53 billion.
Job growth/loss by industry sector: Palm Beach County saw job growth in key industries like education/health services, government, construction, and trade/transportation/utilities. However, sectors like leisure and hospitality, professional business services, and information technology experienced minor decline. Despite these slight fluctuations, the financial activities sector remained stable.
|
Industry
|
Change
|
Total Jobs
|
|
Education/health services
|
+ 5,700 jobs
|
117,300
|
|
Government
|
+ 3,000 jobs
|
66,300
|
|
Construction
|
+ 2,100 jobs
|
44,800
|
|
Trade/transportation/utilities
|
+ 1,700 jobs
|
127,000
|
|
Manufacturing
|
+ 600 jobs
|
22,100
|
|
Leisure and hospitality
|
- 300 jobs
|
96,900
|
|
Information Technology
|
- 500 jobs
|
11,600
|
|
Professional business services
|
- 2,500 jobs
|
132,500
|
|
Financial activities
|
No change
|
49,400
|
March/April 2024 Job Fairs and Hiring Events
CareerSource Palm Beach County has scheduled the following job fairs and hiring events for March 2024:
- Mar. 28 - City of Delray Beach - Automotive Industry Career Fair
- Mar. 29 - Amrit Hiring Event
- Apr. 5 - Trades Industry Job Fair
- Apr. 9 - Palm Beach State College Spring Career Job Fair
More information about these events will be available on www.careersourcepbc.com.
###
Note to editors: You are invited to interview a CareerSource spokesperson on local employment and economic trends. Please call 561.340.1060 ext. 2489 for scheduling before 3 p.m. today.
Note: The unemployment rate is a measure of how many people in the labor force are out of a job. For example, if total employment holds constant and unemployed Americans stop looking for work, thereby leaving the labor force, the unemployment rate will fall even though no jobs have been added. Conversely, if employment holds steady and recent graduates enter the labor force looking for work, the unemployment rate will rise even though no jobs have disappeared.
IN COMPLIANCE WITH THE STEVENS AMENDMENT:
CareerSource Palm Beach County, Inc. is the direct service provider for various workforce programs supported by the U.S. Departments of Labor, Health and Human Services, Education and other agencies as part of awards totaling $15,851,406 (revised annually). Unless otherwise stipulated, all statements, news releases, requests for proposals, bid solicitations and other applicable documents are fully funded from federal sources.