Overall unemployment rate moved down to 5.6% with the biggest shift in Business Services, which gained 2,700 roles, based on the most recently available information published in September 2021.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market rose by 65,536 jobs in July and the unemployment rate decreased compared to the prior month by 60 bps to 5.6%. The national unemployment rate decreased by 43 bps over the same time to 5.7%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 6 bps below the national rate which is a positive sign.
- Unemployment in the market is 820 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 3.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Transportation & Utilities: 583,300; +1,800
- Business Services: 452,500; +2,700
- Education & Healthcare: 397,700; +500
- Restaurants & Hotels: 284,600; +1,100
- Government: 282,100; -500
- Financial Services: 192,300; +1,600
- Other Jobs: 112,300; no change
- Manufacturing: 87,300; -600
- IT & Development: 46,700; +100
Data is based on the most recent 12 months available, through July 2021 (Data published September 2021 and reports created on September 1, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.