April 14, 2016
It's quite apparent that South Florida is an ideal place to live. The favorable weather, pristine beaches and world-class entertainment make the area a favorite spot among vacationers, retirees and second-home owners, but the South Florida job market is now attracting an educated, diverse and younger demographic. In March, the unemployment rate in South Florida dropped to the lowest level since before the recession.
The unemployment rate in Broward County stood at 4.4 percent in March 2016, compared to 5.1 percent a year prior. Palm Beach County saw a rate of 4.5 percent, down .3 percent from last year. Miami-Dade County's unemployment rate in March was 5.6 percent. It was 6.3 percent in March 2015.
In addition, Broward County added 27,300 jobs, Palm Beach County added 14,300 jobs and Miami-Dade County added 23,200 jobs. Broward saw the largest percentage increase at 3 percent. This is no suprise, as Fort Lauderdale has recently become South Florida's new "hot spot'. The city is attracting ultra-luxury developments, and it was also named a top city for real estate investment and where aspiring homeowners have one of the best prospects of making an economically sound purchase.
For more information on living in sunny South Florida, contact Niki Higgins at +1-954-817-2500 or +1-888-242-4422.
Source: Sun-Sentinel
