Overall unemployment rate stayed flat at 2.3% with the biggest shift in Transportation & Utilities, which gained 9,000 roles, based on the most recently available information published in December 2022.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market rose by 25,079 jobs in October and the unemployment rate stayed flat. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 110 bps below the national rate which is a positive sign.
- Unemployment in the market is 150 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 2.8% 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: 652,100; +9,000
- Business Services: 498,600; +8,200
- Education & Healthcare: 438,500; +4,700
- Restaurants & Hotels: 337,900; +6,700
- Government: 306,800; +2,900
- Financial Services: 208,100; +2,900
- Other Jobs: 121,600; +300
- Manufacturing: 96,900; +800
- IT & Development: 53,100; no change
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.