Miami-Dade unemployment rate in November again lowest in Florida at 2.4%
TALLAHASSEE --- Miami-Dade County continues to have the state's lowest unemployment rate in November at 2.4%, much better than the 3.4% state figure and the 4.2% national average, according to data released Friday by the Florida Department of Commerce.
The Miami-Dade rate ticked up 0.2 percentage points with the state and national figures up 0.1 percentage point.
The Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area again had the lowest unemployment rate in the state last month at 3%. Last month the South Florida rate was 2.9%.
The next lowest regions were Panama City and the Crestview-Fort Walton Beach-Destin areas at 3.4%.
Florida's unemployment rate had held steady at 3.3% since April. The state rate remained lower than the national unemployment rate for 49 consecutive months.
Florida's unemployment rate in November 2023 was 3.1%.
By county in South Florida, the rates are 2.4% in Miami-Dade vs. 2.2% in October, 3.4% in Broward County vs. 3.3% in October, and 3.6% in Palm Beach County vs. 3.5% in October.
Number of people out of work
The new rate reflects an estimated 376,000 Floridians qualifying as out of work in mid-November — 7,000 more than in October — from a labor force of 11.015 million people. The labor force was down by 14,000 people from October and 46,000 from November 2023.
"Under Governor DeSantis' decisive leadership, Florida's quick bounce-back is evidence of Florida's commitment to recovery," Florida Secretary of Commerce J. Alex Kelly said in a news release. "This effort—from opening roads and bridges, to getting utilities back on and schools back open along with putting resources and opportunities into communities immediately after the storms—helped keep Florida's businesses open and employees on payroll."
State economists attribute the reduction in the labor force to a rise in retirees. But a Florida Chamber Foundation report this year also cited what it called an "out migration" from the state of a sizable number of people ages 20 to 29.
"If we lose a large portion of the population from 20-29, while gaining a large population of retirement-age individuals who are not working, it contributes to a reduced labor force participation rate, which has been the trend in Florida," the Florida Chamber Foundation report said.
Florida got hammered this year by Hurricane Debby in August, Hurricane Helene in September and Hurricane Milton in October, leading to some temporary increases in unemployment claims. But Jimmy Heckman, the Department of Commerce's chief of workforce statistics and economic research, told reporters during a conference call Friday that the state has seen "broad recovery" in the past month.
Leisure and hospitality sector had best growth
The leisure and hospitality sector gained the most jobs over the month of November 2024, up 30,500 jobs (+2.3%). This industry gained back 12,900 more jobs than were lost in October 2024.
"Leisure and hospitality (businesses) added back over 30,000 jobs in one month (November). That was well over the amount of jobs that were lost in October," Heckman said. "That sector was really the hardest hit. That's the sector where you see a lot of part-time jobs that are subject to temporary closures, as those are the types of jobs that tend to be located in hurricane-affected areas."
Among other sectors, construction added 7,600 jobs in November, while a broad category of trade, transportation and utilities added 11,000, including 7,600 in retail trade.
Other examples were the Orlando-Kissimmee-Sanford area at 3.5%, the Jacksonville area at 3.6%; the Pensacola-Ferry Pass-Brent area at 3.7% and the Tampa-St. Petersburg-Clearwater area at 3.8% The North Port-Sarasota-Bradenton area, which took the brunt of Milton at landfall, had a 3.9%rate.
The highest rate was in the Homosassa Springs area at 5.5%. The Villages and Sebring areas were at 5.1%.
The statewide rate is seasonally adjusted, while the metro rates are not adjusted.