Overall unemployment rate moved down to 5.7% with the biggest shift in Restaurants & Hotels, which gained 2,200 roles, based on the most recently available information published in June 2021.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market rose by 36,398 jobs in May and the unemployment rate decreased compared to the prior month by 20 bps to 5.7%. The national unemployment rate decreased by 25 bps over the same time to 5.5%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 20 bps above the national rate which is a negative sign.
- Unemployment in the market is 800 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 3.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Transportation & Utilities: 576,600; +1,900
- Business Services: 447,700; +700
- Education & Healthcare: 401,200; +100
- Government: 303,200; +600
- Restaurants & Hotels: 280,000; +2,200
- Financial Services: 189,400; +200
- Other Jobs: 110,700; +500
- Manufacturing: 87,500; -200
- IT & Development: 46,600; +300
Data is based on the most recent 12 months available, through May 2021 (Data published June 2021 and reports created on June 30, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.