Overall unemployment rate moved down to 2.6% with the biggest shift in Transportation & Utilities, which gained 7,000 roles, based on the most recently available information published in February 2022.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market rose by 4,562 jobs in December and the unemployment rate decreased compared to the prior month by 100 bps to 2.6%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 109 bps below the national rate which is a positive sign.
- Unemployment in the market is 300 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 7.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Transportation & Utilities: 620,700; +7,000
- Business Services: 476,400; +5,800
- Education & Healthcare: 406,200; -2,600
- Government: 306,400; -500
- Restaurants & Hotels: 302,200; +4,400
- Financial Services: 193,800; -1,500
- Other Jobs: 114,200; +100
- Manufacturing: 91,000; +500
- IT & Development: 47,800; -200
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.