Florida Department of Economic Opportunity Announces Miami Area Added Private Sector Jobs At a Rate of 5.0 Percent Over the Year

Miami, Fla. —Today, the Florida Department of Economic Opportunity announced that the Miami area’s private sector added jobs at a rate of 5.0 percent (54,700 jobs) over the year in March 2023. Total nonagricultural jobs in the Miami area increased by 4.8 percent in March 2023, an increase of 59,800 jobs from a year ago in March 2022.

In March 2023, the Miami metro area gained the third-highest number of private sector jobs among all metro areas over the year. The Miami metro area led all metro areas in job gains over the year in trade, transportation and utilities (+12,700 jobs), and other services (+3,700 jobs). The industries gaining the most jobs over the year were education and health services (+14,000 jobs); trade, transportation, and utilities (+12,700 jobs); leisure and hospitality (+10,300 jobs); and professional and business services (+10,100 jobs).

The labor force in the Miami area increased 3.3 percent over the year. In March 2023, the unemployment rate in the Miami area was 1.8 percent, dropping 1.2 percentage points from the rate of 3.0 percent one year ago in March 2022.

In March 2023, Florida’s unemployment rate was 2.6 percent for the third consecutive month, which is 0.9 percentage point lower than the national rate of 3.5 percent. Florida’s labor force climbed by 250,000 (+2.3 percent) over the year and the unemployment rate has remained lower than the nation’s for 29 consecutive months.

Between March 2022 and March 2023, Florida’s total private sector employment grew by 389,000 jobs (+4.7 percent), 1.9 percentage points faster than the national private sector job growth rate of 2.8 percent during the same time period. In March 2023, Florida employers have added jobs for 34 months since May 2020, with the exception of October 2022. Over the year, Florida’s private sector job growth in March 2023 has exceeded the nation’s for 24 consecutive months since April 2021.

In March 2023, total private sector employment increased by 0.1 percent (+12,100 jobs) over the month, equal to the national rate of change. In March 2023, education and health services sector gains the most jobs among all major industries, adding 6,800 jobs (+0.5 percent) from the previous month, followed by trade, transportation, and utilities, adding 6,700 jobs (+0.3 percent), and leisure and hospitality, adding 5,200 jobs (+0.4 percent).

Data from the month of March continues to indicate there are many job opportunities available for Floridians throughout the state, with more than 400,000 jobs posted online. Floridians in search of work and new job opportunities are encouraged to turn to the CareerSource Florida network for help. Floridians can find guidance on how to register with Employ Florida and search listings of available local job openings. Career seekers also can improve their employability by perfecting resume writing and interviewing skills, establishing career goals, and pursuing customized career training. These services are provided at no cost to job seekers.

To view the statewide March 2023 employment data,
visit www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases. Visit Florida Insight for more information on labor market and economic data.       

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