Florida Department of Economic Opportunity Announces West Palm Beach Area Unemployment Rate at 2.6 Percent in March 2023

West Palm Beach, Fla. — Today, the Florida Department of Economic Opportunity announced that the West Palm Beach area’s unemployment rate was 2.6 percent in March 2023, down 0.3 percentage point from 2.9 percent a year ago. In March 2023, the West Palm Beach metro area’s labor force was up 18,131 (+2.4 percent) over the year.

The West Palm Beach area private sector employment grew 2.6 percent over the year in March 2023, an increase of 15,500 jobs. The industries gaining the most jobs over the year were leisure and hospitality, gaining 4,700 jobs, and education and health services, gaining 4,700 jobs.

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).

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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