MIAMI, Fla. — FloridaCommerce announced today that the Miami metro area led all metro areas in private sector job gains over the past year, adding 30,900 jobs (+2.7 percent) since May 2023. The labor force increased by 3.0 percent (+40,298) over the same period.
The unemployment rate in the Miami area was reported at 2.2 percent for May 2024, a slight increase from the previous year’s rate of 1.9 percent. Significant job growth was observed in three industry sectors: leisure and hospitality (up by 10,400 jobs), construction (up by 5,300 jobs), and professional and business services (up by 3,700 jobs).
Statewide, Florida’s private sector job growth rate outpaced the national average with a 2.2 percent increase (+192,000 jobs) compared to the national rate of 1.6 percent. In May 2024 alone, the construction sector added the most jobs among major industries with an increase of 5,500 jobs (+0.8 percent), followed by education and health services which added 2,700 jobs (+0.2 percent).
“Job creators continue to demonstrate great confidence in Florida’s economic ecosystem through their investments,” stated a spokesperson for FloridaCommerce.
Florida’s statewide unemployment rate remained steady at 3.3 percent in May 2024—unchanged from April—and continued to be lower than the national rate of 4 percent for the forty-third consecutive month.
There were more than 397,000 job postings online in May indicating ample opportunities for job seekers across Florida. The CareerSource Florida network offers resources such as Employ Florida registration assistance and local job listings to aid Floridians in finding employment.
For further details on regional employment data or to view May’s employment report, visit www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases or consult Florida Insight for comprehensive labor market information.
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