FloridaCommerce Announces Miami Area Unemployment Rate at a Low 1.5 Percent in September 2023

Miami, Fla. — Today, FloridaCommerce announced the Miami area unemployment rate was 1.5 percent in September 2023, a 1.1 percentage points decrease from the September 2022 rate of 2.6 percent the lowest among all metro areas. The Miami metro area gained the second-highest number of private sector jobs over the year in September 2023 among all metro areas.

The Miami metro area added 32,600 new private sector jobs, a 2.9 percent increase over the year. The Miami metro area led all metro areas in job gains over the year in four industry sectors— trade, transportation, and utilities, increasing by 12,400 jobs; government, increasing by 6,000 jobs; other services, increasing by 3,700 jobs; and manufacturing, increasing by 2,800 jobs.

The industries gaining the most jobs over the year were trade, transportation, and utilities, increasing by 12,400 jobs; and professional and business services, increasing by 11,600 jobs.

Florida’s labor force is at an all-time high. Florida continues to outpace the nation in labor force growth for 28 consecutive months and over-the-year private sector job growth rate for 30 consecutive months in September 2023. Florida was also ranked #1 for entrepreneurship by researchers at The Digital Project Manager with more than 2.6 million business formations under Governor DeSantis’ leadership. Floridians continue to show their confidence in the opportunities available to them with continued growth in the labor force by 33,000 and private sector employment by 16,200 in September 2023.

Florida’s labor force has grown or remained steady for 35 consecutive months with an over-the-year growth rate of 3.0 percent in September 2023—a full percentage point faster than the national rate of 2.0 percent over the same time period. Moreover, according to The Digital Project Manager, “With 13,238 small businesses per 100,000 of the population, this is the most in any state. Floridians have an entrepreneurial mindset that doesn't only benefit themselves but their communities with the jobs that they create."

Florida’s unemployment rate was 2.8 percent in September 2023, lower than the national rate of 3.8 percent and marking the 35^th consecutive month Florida’s unemployment rate has remained below the nation’s.

Florida’s private sector employment grew by 2.5 percent (+214,500 jobs) over the year in September 2023, faster than the national rate of 2.0 percent over the same time period.

In September 2023, the professional and business services sector gained the most jobs among all major industries, adding 10,600 jobs from the previous month, followed by education and health services, adding 5,900 jobs and trade, transportation and utilities adding 4,500 jobs.

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 September 2023 jobs reports by region, please see below:

• Fort Lauderdale
• Jacksonville
• Miami
• Orlando
• Pensacola
• Southwest Florida
• Tampa
• West Palm Beach

To view the September 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. Additionally, the Department has provided a video to assist users in explaining the data provided through Florida Insight.

###