Miami Area Economic Summary
Updated May 31, 2017
This summary presents a sampling of economic information for the area; supplemental data are provided for regions
and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are
not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area
summaries and geographic definitions, see www.bls.gov/regions/economic-summaries.htm.
Average weekly wages for all industries by county
Unemployment rates for the Miami area,
selected area counties, and the nation
Miami area, 3rd quarter 2016
(U.S. = $1,027; Area = $971)
Unemployment rates
4.7
United States
4.1
4.8
Miami area
4.4
4.4
Broward Co.
3.8
5.4
Miami-Dade Co.
5.0
4.4
Palm Beach Co.
3.9
0.0
2.0
4.0
Apr-16
6.0
Apr-17
Source: U.S. BLS, Local Area Unemployment Statistics.
Source: U.S. BLS, Quarterly Census of Employment and Wages.
Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector
12-month percent changes in employment
Miami area employment
(numbers in thousands)
Percent
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Apr-14
Miami area
Apr-15
United States
Apr-16
Source: U.S. BLS, Current Employment Statistics.
Apr-17
Total nonfarm
Mining and logging
Construction
Manufacturing
Trade, transportation, and utilities
Information
Financial activities
Professional and business services
Education and health services
Leisure and hospitality
Other services
Government
Source: U.S. BLS, Current Employment Statistics.
•
Apr.
2017
2,647.5
0.7
125.1
88.4
599.5
48.9
174.5
434.3
396.2
335.0
128.9
316.0
Change from Apr.
2016 to Apr. 2017
Number
Percent
60.7
0.0
4.7
0.9
10.4
-0.3
-1.4
13.7
14.6
8.3
3.9
5.9
2.3
0.0
3.9
1.0
1.8
-0.6
-0.8
3.3
3.8
2.5
3.1
1.9
Over-the-year changes in the selling prices received by
producers for selected industries nationwide
Over-the-year change in the prices paid by urban
consumers for selected categories
12-month percent change in CPI-U, April 2017
14.0
Miami area
U.S. city average
12.0
10.0
Percent
8.0
12.1
6.0
9.3
4.0
8.0
2.0
6.0
4.0
0.0
2.8
2.2
2.0
0.0
12-month percent changes in PPI
-2.0
0.1
All Items
0.5
Food
General freight trucking
Hospitals
Hotels and motels, except casino hotels
-4.0
Energy
-6.0
Apr-14
Source: U.S. BLS, Consumer Price Index.
Average annual spending and percent distribution for
selected categories
Miami area average annual expenditures 2014-15
Apr-15
Apr-17
Average hourly wages for selected occupations
Occupation
All other
$7,510
15.3%
Apr-16
Source: U.S. BLS, Producer Price Index.
Miami area
$22.19
$23.86
Accountants and auditors
34.15
36.89
Registered nurses
32.69
34.70
Healthcare
$2,929
6.0%
Cargo and freight agents
Reservation and transportation ticket
agents and travel clerks
20.68
21.27
16.73
18.29
Personal
insurance &
pensions
$5,139
10.5%
Construction laborers
14.74
18.22
Receptionists and information clerks
14.14
14.00
Waiters and waitresses
12.88
11.73
Retail salespersons
12.48
13.07
Security guards
11.37
14.29
Maids and housekeeping cleaners
10.66
11.46
Cooks, fast food
10.56
9.89
Food
$6,755
13.8%
Total, all occupations
United
States
Housing
$17,750
36.2%
Transportation
$8,884
18.1%
Total:
$48,967
Source: U.S. BLS, Consumer Expenditure Survey.
Employer costs per hour worked for wages and
selected employee benefits by geographic division
Private industry, December
2016
Total compensation
Wages and salaries
Total benefits
Paid leave
Vacation
Supplemental pay
Insurance
Retirement and savings
Legally required benefits
South Atlantic
(1)
$30.90
21.81
9.09
2.23
1.15
0.83
2.44
1.28
2.31
(1) South Atlantic includes DC, DE, FL, GA, MD, NC, SC, VA, and WV.
Source: U.S. BLS, Employer Costs for Employee Compensation.
United
States
$32.76
22.83
9.93
2.28
1.17
1.15
2.63
1.31
2.56
Source: U.S. BLS, Occupational Employment Statistics, May 2016.
Over-the-year changes in wages and salaries
Percent
4.0
12-month percent changes in ECI
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Mar-14
Miami area
Mar-15
Source: U.S. BLS, Employment Cost Index.
Southeast Information Office • [email protected] • https://www.bls.gov/regions/southeast • 404-893-4222
United States
Mar-16
Mar-17