Overall unemployment rate stayed flat at 2.6% with the biggest shift in Education & Healthcare, which gained 7,000 roles, based on the most recently available information published in August 2022.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market rose by 2,154 jobs in July and the unemployment rate stayed flat. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 118 bps below the national rate which is a positive sign.
- Unemployment in the market is 250 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 5.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Transportation & Utilities: 639,800; +2,000
- Business Services: 492,100; +4,300
- Education & Healthcare: 426,400; +7,000
- Restaurants & Hotels: 326,500; -100
- Government: 285,000; -100
- Financial Services: 204,400; +2,200
- Other Jobs: 120,100; +1,300
- Manufacturing: 95,800; +400
- IT & Development: 53,100; +400
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.