Overall unemployment rate moved down to 2.5% with the biggest shift in Business Services, which gained 4,600 roles, based on the most recently available information published in June 2022.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market rose by 7,735 jobs in April and the unemployment rate decreased compared to the prior month by 30 bps to 2.5%. The national unemployment rate decreased by 42 bps over the same time to 3.3%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 84 bps below the national rate which is a positive sign.
- Unemployment in the market is 300 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 8.6% 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: 633,200; +200
- Business Services: 483,900; +4,600
- Education & Healthcare: 413,700; -3,300
- Restaurants & Hotels: 324,100; +4,000
- Government: 303,800; -1,200
- Financial Services: 203,000; +2,700
- Other Jobs: 115,900; +900
- Manufacturing: 94,000; +400
- IT & Development: 52,100; -100
Data is based on the most recent 12 months available, through April 2022 (Data published June 2022 and reports created on June 1, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.