Overall unemployment rate moved up to 6.2% with the biggest shift in Government, which lost 20,600 roles, based on the most recently available information published in July 2021.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market declined by 2,283 jobs in June and the unemployment rate increased compared to the prior month by 50 bps to 6.2%. The national unemployment rate increased by 60 bps over the same time to 6.1%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 11 bps above the national rate which is a negative sign.
- Unemployment in the market is 560 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 5.6% and are up compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
For key employment segments of the market, total jobs declined by -0.6%. Key sectors include:
- Transportation & Utilities: 581,700; +4,900
- Business Services: 447,500; -900
- Education & Healthcare: 396,400; -3,700
- Restaurants & Hotels: 283,600; +1,900
- Government: 282,600; -20,600
- Financial Services: 191,200; +1,300
- Other Jobs: 112,600; +2,000
- Manufacturing: 88,700; +1,600
- IT & Development: 46,500; -100
Employment Change by Key Sector
