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Market Report

Fort Lauderdale Industrial Market Report

2Q 2021

Broward County Industrial Sector Benefits From Florida’s Booming Local Economy

 

Aggressive reopening sets stage for strong recovery. Florida has been among the nation’s leaders in dropping COVID-19 restrictions, increasing occupancy to pre-pandemic levels and bringing students back into classrooms. Those decisions enabled workers to return more quickly and resulted in a statewide unemployment rate of 4.7 percent at the end of the first quarter, 130 basis points below the national level. Broward County is outperforming the state, posting an unemployment rate of 4.5 percent at the end of March, elevating spending and supporting the industrial market’s return to normal operations. The state is also dropping the federal unemployment benefit on June 26, which could encourage more workers to reenter the job market in the coming weeks.

 

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