Overall unemployment rate moved down to 5.6% with the biggest shift in Government, which gained 18,800 roles, based on the most recently available information published in September 2021.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market declined by 11,422 jobs in August and the unemployment rate decreased compared to the prior month by 10 bps to 5.6%. The national unemployment rate decreased by 38 bps over the same time to 5.3%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 31 bps above the national rate which is a negative sign.
- Unemployment in the market is 340 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 4.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Transportation & Utilities: 585,500; +300
- Business Services: 455,000; +2,300
- Education & Healthcare: 401,400; +5,500
- Government: 300,900; +18,800
- Restaurants & Hotels: 284,800; -1,000
- Financial Services: 192,900; no change
- Other Jobs: 111,400; -600
- Manufacturing: 86,600; -900
- IT & Development: 47,100; +400
Data is based on the most recent 12 months available, through August 2021 (Data published September 2021 and reports created on September 29, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.