LotsCap

Economy Profile

Miami MSA

  • Florida State
  • October, 2024
TSAC-CFD-133100

Table of Content

Snapshot

-

GDP (2022, Thousands)
$ 483754676
AVG Real Growth (2017-2022)
3.48 %
Unemployment Rate (May, 2024)
3.4 %
Labor Force Size
3272925
Number of Businesses
277206
Average Annual Wage
$ 72801

Economy Structure

Population & Household section gives reader an outlook. of general population profile, structure, and outlook.

GDP

GDP (2022, Thousands)
$ 483754676
GDP Per Capita
$ 78994
GDP Growth Rate (2022)
4.9 %
Average Growth Rate (2017-2022)
3.48 %
Goods Producing Contribution (%)
7.3%
Service Providing Contribution (%)
84.4%
Goverment Contribution
8.3%
GDP Historical Growth Rate
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP by Sectors
Source: Bureau of Economic Analysis | CAGDP2, CAGDP11
GDP Growth by Sectors
Source: Bureau of Economic Analysis | CAGDP11

Monthly Employment

Total Labor Force
3272925
Labor Force Growth
0.54%
Unemployment
111750
Unemployment Rate
3.4%
Unemployment Rate
Source: Census.gov | S2301

Employment Profile

Employment Rate (20-64 y.o.)
76.1%
Employment Rate (with Bachelor's Degree)
83.6%
Employment Rate (75+ y.o.)
6.8%
Employment Rate (Black)
60.7%
Employment Rate (Female)
71.7%
Employment Rate by Segment
Source: Census.gov | S2301
Employent Rate Comparison
Source: Census.gov | S2301

Employment by Sectors

Number of Companies
277206
Number of Employment
2749269
Annual Average Wages
$ 72801
Wage CAGR (2010-2022)
Goods-producing (avg pay)
$ 70139
Service-providing (avg pay)
$ 72522
Historical Annual Average Wage
Source: BLS
Number of Establishments
Source: BLS
Company Indicators
Source: BLS

Income

Household Income (Mean)
$ 69085
Household Income (Median)
$ 103333
Per Capita Income
$ 39957
Per Capita Income Growth (2010-2022)
- %
Gini Index
0.5101*
Poverty Rate
13.4 %
Per Capita Income
Source: Census.gov | B19301
Income Distribution by Household
Source: Census.gov