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Economic Snapshot Dashboard
Population Projections
Miami-Dade County by Tier
North
North-Central
South-Central
South
Source: Miami-Dade County
Miami-Dade County Municipalities
Click column header to sort data
| Municipality | Population▼ | Median HH Income | Employment | Employment Growth |
|---|---|---|---|---|
| Miami, FL | 440,807 | $47,860 | 228,000 | -1.7% |
| Hialeah, FL | 224,362 | $43,181 | 111,361 | -2.3% |
| Miami Gardens, FL | 111,706 | $51,067 | 48,500 | 0.6% |
| Miami Beach, FL | 83,469 | $59,162 | 47,030 | -8% |
| Homestead, FL | 78,885 | $52,334 | 35,400 | 16.7% |
| Doral, FL | 73,126 | $77,774 | 37,534 | 20.2% |
| North Miami, FL | 60,449 | $44,283 | 29,300 | -2.1% |
| Coral Gables, FL | 49,269 | $113,623 | 23,064 | -1.35% |
| Cutler Bay, FL | 44,865 | $73,075 | 22,794 | 1.9% |
| North Miami Beach, FL | 43,357 | $52,223 | 21,700 | 3.4% |
| Aventura, FL | 39,374 | $70,257 | 18,200 | 8.7% |
| Miami Lakes, FL | 30,582 | $85,540 | 16,800 | -0.6% |
| Palmetto Bay, FL | 24,327 | $131,605 | 12,220 | 1.3% |
| Hialeah Gardens, FL | 22,917 | $55,276 | 12,800 | -4.2% |
| Sunny Isles Beach, FL | 22,234 | $51,760 | 10,100 | -1.2% |
| Sweetwater, FL | 19,426 | $46,224 | 9,580 | -5.8% |
| Pinecrest, FL | 18,405 | $166,801 | 8,400 | -4.7% |
| Opa-locka, FL | 16,310 | $27,734 | 6,250 | 8.6% |
| Key Biscayne, FL | 14,530 | $167,990 | 6,070 | 13% |
| Miami Springs, FL | 13,880 | $73,991 | 7,360 | -2.4% |
| Florida City, FL | 12,844 | $43,599 | 4,390 | 6.5% |
| South Miami, FL | 11,997 | $67,110 | 6,230 | 3.7% |
| North Bay Village, FL | 8,057 | $65,857 | 5,200 | -6.8% |
| West Miami, FL | 7,090 | $59,234 | 3,820 | -12.2% |
| Bay Harbor Islands, FL | 5,880 | $79,824 | 3,010 | 3.4% |
| Surfside, FL | 5,665 | $67,544 | 2,300 | 0.1% |
| Biscayne Park, FL | 3,117 | $65,000 | 1,330 | -1.2% |
| Bal Harbour, FL | 3,037 | $81,424 | 1,100 | 3.3% |
| Virginia Gardens, FL | 2,229 | $64,286 | 1,310 | -0.4% |
| El Portal, FL | 1,756 | $94,821 | 1,050 | -9.2% |
| Medley, FL | 957 | $31,875 | 444 | -8.6% |
| Golden Beach, FL | 531 | $246,250 | 249 | -5.7% |
| Indian Creek, FL | 54 | $101,250 | 24 | 10% |
Source: Census ACS | *Employment is total population that is currently employed
Labor Market
While Miami-Dade County benefits from robust foreign direct investment and international businesses, it is also a thriving hub for local entrepreneurs. Remarkably, 68 percent of businesses in the County are microbusinesses (i.e., they employ fewer than ten workers), and overall, 99 percent employ fewer than 100 workers. Miami-Dade County is home to many industries that contribute to its economic growth. Tourism remains a vital part of the economy, and the combination of arts, education, recreation, accommodation, and food services represent one of the largest sectors in the County. Additionally, wholesale and retail trade are burgeoning sectors, anchored by the bustling activity at PortMiami and Miami International Airport. Other key sectors include health care, transportation and warehousing, professional and technical services, finance, insurance, real estate, and educational services.
Occupation Concentration
| Profession | 2023 Jobs | 2023 Median Salary | 2023 Average Hourly Wage | 2023 LQ (Occupation Concentration) | 2018-2023 % Change in Jobs |
|---|---|---|---|---|---|
| Sales and Related | 294,089 | $43,202 | $35.53 | 1.13 | 12.86% |
| Office and Administrative Support | 258,620 | $40,099 | $22.78 | 1.1 | 19.11% |
| Transportation and Material Moving | 214,599 | $36,361 | $24.22 | 1.19 | 13.68% |
| Management | 208,383 | $74,014 | $51.25 | 1.03 | 51.84% |
| Business and Financial Operations | 187,963 | $77,332 | $54.71 | 1.07 | 58.26% |
| Food Preparation and Serving Related | 123,032 | $33,236 | $18.64 | 0.85 | 4.61% |
| Healthcare Practitioners and Technical | 107,548 | $80,118 | $47.88 | 0.98 | 20.67% |
| Personal Care and Service | 103,316 | $29,566 | $19.7 | 1.37 | 7.63% |
| Building and Grounds Cleaning and Maintenance | 97,887 | $29,680 | $17.18 | 1.28 | 1.03% |
| Construction and Extraction | 91,047 | $40,663 | $23.73 | 0.94 | 7.94% |
| Installation, Maintenance, and Repair | 78,827 | $44,216 | $24.77 | 1 | 15.38% |
| Healthcare Support | 76,486 | $33,885 | $18.43 | 0.87 | 19.49% |
| Arts, Design, Entertainment, Sports, and Media | 75,654 | $45,489 | $33.63 | 1.11 | 19.45% |
| Educational Instruction and Library | 70,044 | $50,801 | $29.17 | 0.66 | 0.43% |
| Production | 51,730 | $35,363 | $20.59 | 0.52 | 4.7% |
| Protective Service | 46,932 | $43,185 | $31.03 | 1.21 | 5.28% |
| Computer and Mathematical | 38,658 | $91,013 | $50.26 | 0.64 | 32% |
| Legal | 26,993 | $93,233 | $62.23 | 1.54 | 22.2% |
| Community and Social Service | 24,196 | $51,952 | $29.72 | 0.71 | 17.73% |
| Life, Physical, and Social Science | 15,949 | $69,272 | $43.89 | 0.77 | 22.89% |
| Architecture and Engineering | 15,906 | $77,874 | $44.01 | 0.52 | 5.38% |
| Farming, Fishing, and Forestry | 12,058 | $27,384 | $16.51 | 0.83 | 20.57% |
| Military-only | 3,579 | $52,116 | $30.37 | 0.36 | 2.72% |
Source: Lightcast | *LQ is the Location Quotient of the occupation, a benchmark to the national average of 1.
Unemployment and Labor Force Participation Rates
Unemployment Rate
Labor Force Participation Rate
2019
3.1%
62.6%
2020
8.7%
60.3%
2021
5.1%
61.8%
2022
2.8%
63.3%
2023
2.5%
64.1%
January-February 2024
2.5%
64.5%
March 2024
2.7%
64.6%
April 2024
2.7%
64.2%
May 2024
2.6%
64.5%
June 2024
3.1%
64.4%
Source: Lightcast
Industry Characteristics
| Industry | 2023 Jobs | 2023 Average Earnings Per Worker | 2023 LQ (Industry Concentration) | 2018-2023 % Change in Jobs | 2023 GRP |
|---|---|---|---|---|---|
| Health Care and Social Assistance | 238,966 | $67,304 | 0.95 | 19.33% | 18600.31M |
| Transportation and Warehousing | 234,098 | $48,014 | 1.91 | 45.65% | 19612.65M |
| Retail Trade | 184,402 | $50,577 | 0.92 | 3.23% | 18018.42M |
| Real Estate and Rental and Leasing | 178,432 | $54,430 | 1.41 | 44.38% | 13750.8M |
| Other Services (except Public Administration) | 177,856 | $30,146 | 1.45 | 11.51% | 6052.81M |
| Professional, Scientific, and Technical Services | 168,196 | $97,234 | 1.01 | 26.18% | 22677.13M |
| Administrative and Support and Waste Management and Remediation Services | 161,878 | $37,097 | 1.23 | 7.8% | 7851.19M |
| Finance and Insurance | 149,924 | $115,000 | 1.09 | 44.25% | 27702.1M |
| Government | 147,542 | $101,427 | 0.58 | -1.41% | 18092.64M |
| Accommodation and Food Services | 146,679 | $43,936 | 0.94 | 4.42% | 10745.13M |
| Construction | 123,480 | $55,586 | 1 | 15.74% | 8810.13M |
| Wholesale Trade | 88,100 | $93,172 | 1.25 | 11.76% | 21301.05M |
| Educational Services | 57,096 | $58,479 | 1.11 | 11.82% | 4018.44M |
| Manufacturing | 55,291 | $72,749 | 0.4 | 10.31% | 9736.78M |
| Arts, Entertainment, and Recreation | 37,984 | $58,595 | 0.8 | 9.4% | 3355.29M |
| Information | 34,374 | $110,971 | 0.86 | 24.69% | 11578.13M |
| Agriculture, Forestry, Fishing and Hunting | 18,320 | $37,810 | 0.49 | 17.71% | 1200.65M |
| Management of Companies and Enterprises | 17,973 | $144,712 | 0.58 | 32.54% | 3181.41M |
| Utilities | 3,663 | $157,785 | 0.57 | 28.1% | 2803.74M |
| Mining, Quarrying, and Oil and Gas Extraction | 1,226 | $78,362 | 0.11 | 1.52% | 283.01M |
Source: Lightcast | *LQ is the Location Quotient of the industry, a benchmark to the national average of 1.
Defense Industry Subsectors
| Industry | 2023 Jobs | 2023 Average Earnings Per Worker | 2023 LQ (Industry Concentration) | 2018-2023 % Change in Jobs | 2023 GRP |
|---|---|---|---|---|---|
| Telecommunications | 10,609 | $86,143 | 1.12 | 16.41% | 4108.19M |
| Federal Government, Military | 6,852 | $48,912 | 0.36 | -5.19% | 946.72M |
| Aerospace Product and Parts Manufacturing | 2,633 | $97,201 | 0.48 | 92.17% | 509.94M |
| Ship and Boat Building | 1,984 | $68,964 | 1.22 | 31.56% | 175.15M |
| Military Armored Vehicle, Tank, and Tank Component Manufacturing | 40 | $89,172 | 0.45 | 422.87% | 13.51M |
| Guided Missile and Space Vehicle Manufacturing | 10 | $162,334 | 0.01 | 1.78M | |
| Ammunition (except Small Arms) Manufacturing | 4 | $25,392 | 0.02 | 7.67% | 0.16M |
| Small Arms Ammunition Manufacturing | 2 | $56,538 | 0.02 | 6.7% | 0.21M |
Business by Number of Employees
| Busize Size | Percentage | Business Count |
|---|---|---|
| 1 to 4 employees | 36% | 50,437 |
| 5 to 9 employees | 32.6% | 45,576 |
| 10 to 19 employees | 19.6% | 27,390 |
| 20 to 49 employees | 9.3% | 12,986 |
| 50 to 99 employees | 1.6% | 2,306 |
| 100 to 249 employees | 0.6% | 837 |
| 250 to 499 employees | 0.2% | 264 |
| 500+ employees | 0.1% | 138 |
Source: Lightcast
Workforce
From 2018 to 2023, jobs increased by 6.7% in Miami-Dade County, FL from 1,350,900 to 1,441,322. This change outpaced the national growth rate of 3.6% by 3.1%. As the number of jobs increased, the labor force participation rate increased from 61.7% to 63.8% between 2018 and 2023. The largest private employers in the region include Baptist Health South Florida, the University of Miami, and American Airlines. Top public employers include Miami-Dade County Public Schools, Miami-Dade County, and the U.S. Government. Miami-Dade County’s businesses benefit from a workforce that is both diverse and robust.
Top 20 Skills
| Skill | Latest 30 Days Unique Postings | Latest 30 Days Unique Postings % Change |
|---|---|---|
| Project Management | 2,954 | 8.4% |
| Marketing | 2,912 | -2.5% |
| Bilingual (Spanish/English) | 2,449 | -1.8% |
| Accounting | 2,301 | 3.6% |
| Auditing | 2,136 | 0.5% |
| Nursing | 2,063 | -1.5% |
| Finance | 1,957 | 3.2% |
| Selling Techniques | 1,612 | -11.5% |
| Merchandising | 1,577 | -11.5% |
| Influenza | 1,426 | 2.1% |
| Customer Relationship Management | 1,353 | -3.8% |
| Restaurant Operation | 1,346 | -7.1% |
| Invoicing | 1,292 | 2.6% |
| Data Analysis | 1,244 | -0.1% |
| Workflow Management | 1,198 | -0.4% |
| Billing | 1,186 | -7.8% |
| Medical Records | 1,085 | 1.8% |
| Data Entry | 1,076 | -0.7% |
| Business Development | 1,060 | -1.1% |
| Inventory Management | 1,035 | 2.7% |
Source: Lightcast
Job Postings 30-Day Trend
Source: Lightcast
Job Postings by Industry
| Industry Sector (2-Digit) | Latest 30 Days Unique Postings | Latest 30 Days Unique Postings % Change |
|---|---|---|
| Administrative and Support and Waste Management and Remediation Services | 4,125 | 3.5% |
| Educational Services | 3,623 | -5.5% |
| Professional, Scientific, and Technical Services | 3,517 | 0.2% |
| Health Care and Social Assistance | 3,247 | -8.8% |
| Retail Trade | 2,045 | -10.9% |
| Accommodation and Food Services | 1,556 | -8.9% |
| Manufacturing | 1,553 | -1.5% |
| Finance and Insurance | 1,543 | 3.7% |
| Transportation and Warehousing | 964 | 1.9% |
| Wholesale Trade | 811 | -0.6% |
| Other Services (except Public Administration) | 797 | 2.4% |
| Real Estate and Rental and Leasing | 751 | -10.1% |
| Construction | 661 | -1.5% |
| Information | 493 | 2.2% |
| Public Administration | 467 | 8.4% |
| Arts, Entertainment, and Recreation | 199 | -10.1% |
| Agriculture, Forestry, Fishing and Hunting | 107 | 3.7% |
| Management of Companies and Enterprises | 86 | -11.6% |
| Utilities | 85 | 24.7% |
| Mining, Quarrying, and Oil and Gas Extraction | 21 | 9.5% |
Source: Lightcast
Top 20 Companies
| Company | Latest 30 Days Unique Postings | Latest 30 Days Unique Postings % Change |
|---|---|---|
| University of Miami | 1,882 | 1.5% |
| Florida International University | 808 | -14.4% |
| Baptist Health | 552 | -26.4% |
| Jackson Health | 415 | 4.8% |
| Nicklaus Children's Health System | 329 | -6.7% |
| HCA Healthcare | 322 | -5.6% |
| Raytheon Technologies | 269 | -20.4% |
| Royal Caribbean Cruises | 250 | 17.6% |
| Cma Cgm | 233 | 25.8% |
| Accenture | 220 | 1.8% |
| Marriott International | 193 | -8.3% |
| Elevance Health | 169 | 62.1% |
| Deloitte | 151 | 11.3% |
| Allied Universal | 147 | -21.1% |
| Miami Dade College | 115 | -21.7% |
| State of Florida | 110 | 9.1% |
| PricewaterhouseCoopers | 108 | -3.7% |
| Macy's | 99 | -12.1% |
| Compass Group | 95 | 4.2% |
| KPMG | 76 | 26.3% |
Source: Lightcast
Annual Wage Ranges by Occupation (25th-75th Percentile)
25th Percentile
75th percentile
Legal
$60,235
$167,746
Management
$38,185
$135,412
Computer and Mathematical
$60,327
$134,402
Business and Financial Operations
$49,098
$121,702
Architecture and Engineering
$52,945
$110,319
Life, Physical, and Social Science
$43,339
$109,750
Healthcare Practitioners and Technical
$54,882
$107,404
Protective Service
$32,775
$83,289
Military-only
$30,516
$79,679
Arts, Design, Entertainment, Sports, and Media
$23,867
$78,386
Sales and Related
$29,924
$75,231
Community and Social Service
$39,977
$69,060
Educational Instruction and Library
$38,382
$68,867
Installation, Maintenance, and Repair
$32,703
$61,587
Construction and Extraction
$26,850
$56,108
Office and Administrative Support
$32,110
$52,447
Transportation and Material Moving
$27,514
$51,179
Production
$27,713
$47,461
Personal Care and Service
$19,192
$43,256
Healthcare Support
$25,556
$41,340
Food Preparation and Serving Related
$29,087
$40,981
Building and Grounds Cleaning and Maintenance
$21,458
$38,284
Farming, Fishing, and Forestry
$23,300
$36,062
Source: Lightcast
Demographics
With 2.7 million residents, Miami-Dade County is the most populous County in Florida. As a true international hub and hemispheric leader, the County boasts 104 spoken languages, and 54% of the population is foreign-born. The County's unparalleled quality of life and abundant economic opportunities attract new residents globally, with an average influx of approximately 40,000 international newcomers annually.
Population By Race
Population by Educational Attainment
Educational Pipeline
Miami-Dade County is a hub of higher education, serving not only local needs but also those of the region and beyond. In 2021, the County celebrated a significant milestone with 110,063 students earning college degrees, a substantial increase from the 62,000 in 2008, with healthcare and business being the most common fields of study. Home to nearly 100,000 students, the County boasts 21 colleges and universities, including prominent institutions such as the University of Miami, Florida International University, Miami-Dade College, Barry University, St. Thomas University, Florida Memorial University, and Florida National University.
Miami-Dade County is also home to the third-largest school district in the United States. Miami-Dade County Public Schools (MDCPS) serves more than 330,000 students, operates with an $8.25 billion budget, and employs 34,000 staff members. Reflecting the County's remarkable diversity, MDCPS students hail from more than 160 countries.
Degrees by Program
| Description | 2022 Completions | 2009-2022 Trend |
|---|---|---|
| Total | 108,350 | 68.7K 108.4K |
| Health Professions and Related Programs | 24,516 | 16.1K 24.5K |
| Business, Management, Marketing, and Related Support Services | 21,270 | 11.5K 21.3K |
| Liberal Arts and Sciences, General Studies and Humanities | 17,874 | 8.8K 17.9K |
| Culinary, Entertainment, and Personal Services | 6,520 | 4.5K 6.5K |
| Computer and Information Sciences and Support Services | 3,951 | 3.1K 4K |
| Psychology | 3,928 | 1.7K 3.9K |
| Biological and Biomedical Sciences | 3,112 | 0.9K 3.1K |
| Education | 3,025 | 6.3K 3K |
| Homeland Security, Law Enforcement, Firefighting and Related Protective Services | 2,809 | 2.7K 2.8K |
Source: Lightcast
Housing Market and Commuting Patterns
With miles of beaches and the unique allure of the Everglades, Miami-Dade County remains an attractive destination that offers an unrivaled quality of life and recreation opportunities. The County also offers a variety of housing styles, from single-family homes and multifamily residences to waterfront condos, suburban dwellings, and even rural agricultural settings. It also boasts diverse neighborhoods to suit every lifestyle, whether it is walkable suburban areas, urban high-rises, communities with private airplane runways, horse country, or the rustic charm of the Redlands, there is a perfect spot for anyone looking to call Miami-Dade home.
As an attractive place to live and play, it is no surprise that 96% of Miami-Dade County’s workforce also resides within the County. Commuters benefit from a comprehensive network of roads, bridges, causeways, and a top-tier mass transit system known for its safety, reliability, cleanliness, and efficiency.
Home Values Trend
Source: Zillow
Workforce Jobs, Resident Workers, and Net Commuters
2023 Jobs
2023 Resident Workers
2023 Net Commuters
Source: Lightcast
Data Notes
The charts featured in this snapshot are a product of EImpact, a software company that communicates economic and labor market data and produces customized internal visualizations. EImpact’s data is largely sourced from Lightcast, formerly known as EMSI Burning Glass. Lightcast integrates data from government sources (for instance, Bureau of Labor Statistics, U.S. Census Bureau, etc.), which are estimates based on survey data reported by public agencies. Lightcast’s figures may differ slightly from web queries due to proprietary analytics. For instance, Lightcast may integrate multiple sources for one indicator, or estimate data points that may be otherwise suppressed for privacy purposes. In addition, Lightcast forecasts population counts using a cohort model, which estimates census population counts based on birth rates, death rates, immigration patterns, and other factors. Further information on Lightcast’s methodology can be found in their Developer Knowledge base. Depending on the source, charts in this snapshot are updated and released in different time interval, per Lightcast’s release schedule. Additional data is sourced from Zillow, U.S. Census Reporter, Neighborhood Scout, Porch, and American Community Survey.
Terms and Sources
Bureau of Economic Analysis (BEA)
As part of the U.S. Department of Commerce, BEA produces economic accounts statistics that enable government and business decision-makers, researchers, and the American public to follow and understand the performance of the Nation's economy.
Bureau of Labor Statistics (BLS)
Unit of the United States Department of Labor. BLS is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of the U.S. Federal Statistical System.
Gross Regional Product (GRP)
The GDP for any region smaller than the United States. GRP measures the final market value of all goods and services produced in the region of study. GRP equals the sum of total industry earnings, taxes on production and imports, and profits, minus subsidies (GRP = earnings + TPI + profits – subsidies).
Industry wages vs Occupation wages
Industry wages and occupation wages are estimated via separate data sets; often the time periods being reported do not align, and wages are defined slightly differently in the two systems (for example, certain bonuses are included in the industry wages but not the occupation wages). It is therefore common that estimates of the average industry wages and average occupation wages in a region do not match exactly.
Local Area Unemployment Statistics (LAUS)
Monthly BLS survey measuring household employment that determines size of labor force and unemployment rate.
Location quotient (LQ)
Quantifies how concentrated a particular industry is in a region in comparison with the nation. It is the percentage of jobs in one region (Miami-Dade County) divided by the percentage of jobs nationally. For example, if the leather products manufacturing industry accounts for 10% of jobs in an area but 1% of jobs nationally, then the area’s leather-producing industry has an LQ of 10. Thus, leather manufacturing accounts for a larger than average “share” of total jobs— the share is ten times larger than normal.
Manufacturing
The making of articles on a large-scale using machinery; industrial production. The transformation or assembly of raw materials and components into new products.
National Council for Education Statistics (NCES) Integrated Postsecondary Education Data System (IPEDS)
NCES is the primary federal entity for collecting and analyzing data related to education in the U.S. IPEDS is a system of interrelated surveys conducted annually by NCES that measures institution-level college completion rates.
North American Industry Classification System (NAICS)
Used to classify business establishments according to the type of economic activity. The NAICS Code comprises six levels, from the “all industry” level to the 6-digit level. The first two digits define the top-level category, known as the “sector,” which is the level used in this dashboard.
Quarterly Census of Employment and Wages (QCEW)
Shows employment and wages by industry and ownership type at the state, regional, county, and municipal level. QCEW measures gross job gains and losses at establishments and tracks changes in employment at the establishment level, including openings, closings, expansions, and contractions.
Standard Occupational Classification System (SOC)
Used to classify workers into occupational categories. All workers are classified into one of over 804 occupations according to their occupational definition. To facilitate classification, occupations are combined to form 22 major groups, 95 minor groups, and 452 occupation groups. Each occupation group includes detailed occupations requiring similar job duties, skills, education, or experience.
U.S. Census Population Estimates Program
The Census Population Estimates Program produces estimates of the population of the United States and sub-areas. Lightcast uses the latest U.S. Decennial Census population figures as a base, and estimates population by modeling estimated births, deaths, and migration. Lightcast uses Population Estimates nearly unchanged in the years for which they are available as the basis for demographics counts for the nation, states, and counties.
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