Overall unemployment rate moved down to 3.7% with the biggest shift in Transportation & Utilities, which gained 12,900 roles, based on the most recently available information published in December 2021.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market rose by 13,364 jobs in November and the unemployment rate decreased compared to the prior month by 30 bps to 3.7%. The national unemployment rate decreased by 37 bps over the same time to 3.9%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 19 bps below the national rate which is a positive sign.
- Unemployment in the market is 260 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in November versus prior month by 4.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.3% . Key sectors include:
- Transportation & Utilities: 613,300; +12,900
- Business Services: 469,400; +3,100
- Education & Healthcare: 409,400; +2,400
- Government: 306,700; +2,600
- Restaurants & Hotels: 296,500; +5,700
- Financial Services: 195,500; +2,500
- Other Jobs: 114,000; +800
- Manufacturing: 90,900; +1,800
- IT & Development: 48,000; +700
Data is based on the most recent 12 months available, through November 2021 (Data published December 2021 and reports created on January 6, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.