Overall unemployment rate moved down to 2.1% with the biggest shift in Transportation & Utilities, which gained 11,600 roles, based on the most recently available information published in January 2022.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market declined by 20,774 jobs in November and the unemployment rate decreased compared to the prior month by 10 bps to 2.1%. The national unemployment rate decreased by 4 bps over the same time to 3.4%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 126 bps below the national rate which is a positive sign.
- Unemployment in the market is 120 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 1.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Transportation & Utilities: 662,100; +11,600
- Business Services: 495,500; -2,900
- Education & Healthcare: 439,400; +2,000
- Restaurants & Hotels: 342,200; +5,400
- Government: 306,700; -200
- Financial Services: 207,200; -100
- Other Jobs: 121,700; no change
- Manufacturing: 98,000; +1,300
- IT & Development: 53,200; +200
Data is based on the most recent 12 months available, through November 2022 (Data published January 2022 and reports created on January 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.