Florida is now far outpacing the rest of the nation when it comes to job growth.
The strong job growth has brought unemployment in the Miami area down to just 3.7% in November 2021, compared to 8.2% in November 2020. Florida has an overall 4.5% unemployment rate.
According to a press release from Florida’s Department of Economic Opportunity, the industries gaining the most amount of jobs over the year in Miami include professional and business services, increasing by 22,600 jobs; leisure and hospitality, increasing by 19,800 jobs; and trade, transportation, and utilities, increasing by 15,600 jobs.
The Miami metro area led all Florida metro areas in job gains over the year in professional and business services; trade, transportation, and utilities; and financial activities.
Overall, the state of Florida gained 51,100 jobs in November 2021, while the nation as a whole gained 210,000 jobs in the same period.
That means that Florida accounted for around 25% of all jobs created in the entire U.S. last month.
Florida’s job growth rate was six times faster than the U.S. at 0.6% for November 2021, compared to 0.1% for the nation as a whole.
Florida’s labor force is growing even faster compared to the rest of the U.S. (6.1% in Florida year-over-year, compared to 0.9% nationwide).
In November, Florida’s labor force grew by over 42,000 – or around 1,400 per day.
Florida has also now gained back 91.2% of the jobs that existed before the pandemic in February 2020, according to Florida Politics.