WRE News: Miami Boasts Record Low Unemployment Rate at 1.4%

Miami, FL – January 12, 2024 – The latest BLS report reveals that the Miami area maintains a record low unemployment rate, standing at 1.4 percent in November 2023 — the lowest among the 38 metropolitan divisions of the most populated metro areas nationwide. In contrast to the 7.9 percent rate in December 2020, Miami’s employment landscape has undergone a remarkable transformation. Miami not only holds the title for the lowest unemployment rate but also celebrates the fastest year-over-year increase in employment, with a notable 3.9 percent surge in November. Bloomberg reported in January 2023 that Miami’s unemployment rate reached historic lows, marking a significant milestone in the region’s economic resilience and growth.