Overall unemployment rate moved down to 2.3% with the biggest shift in Education & Healthcare, which gained 5,400 roles, based on the most recently available information published in November 2022.
Total employment in the Miami-Fort Lauderdale-West Palm Beach, FL market declined by 3,037 jobs in September and the unemployment rate decreased compared to the prior month by 30 bps to 2.3%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Miami-Fort Lauderdale-West Palm Beach, FL unemployment rate is 102 bps below the national rate which is a positive sign.
- Unemployment in the market is 190 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 3.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.1% . Key sectors include:
- Transportation & Utilities: 641,800; -700
- Business Services: 489,500; -4,300
- Education & Healthcare: 434,300; +5,400
- Restaurants & Hotels: 331,900; +500
- Government: 303,900; +500
- Financial Services: 205,000; +200
- Other Jobs: 121,400; +200
- Manufacturing: 96,100; -300
- IT & Development: 53,200; no change
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.