Overall unemployment rate moved down to 4.9% with the biggest shift in Financial Services, which lost 1,600 roles, based on the most recently available information published in November 2021.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market rose by 24,186 jobs in September and the unemployment rate decreased compared to the prior month by 70 bps to 4.9%. The national unemployment rate decreased by 72 bps over the same time to 4.6%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 34 bps above the national rate which is a negative sign.
- Unemployment in the market is 470 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 5.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs stayed flat. Key sectors include:
- Transportation & Utilities: 588,500; +900
- Business Services: 456,000; -800
- Education & Healthcare: 400,500; -100
- Government: 301,700; +800
- Restaurants & Hotels: 284,800; -500
- Financial Services: 191,300; -1,600
- Other Jobs: 111,700; no change
- Manufacturing: 88,400; +1,500
- IT & Development: 47,000; -100
Data is based on the most recent 12 months available, through September 2021 (Data published November 2021 and reports created on November 3, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.