By Gay Cororaton, MIAMI REALTORS® Chief Economist
Miami-Dade County had the largest year-over-year increase in tech jobs and wages among the top-10 largest U.S. counties, another indicator of South Florida’s growing economic power as a tech hub, according to new Bureau of Labor Statistics Quarterly Census of Employment and Wages released Wednesday.
Miami-Dade’s inflow of tech workers is fueling South Florida’s positive outlook.
Employment in the information industry—which includes jobs in data processing, webpage development, and related services —rose 9.7% during 2022 Q3 – 2022 Q3, according to the Bureau of Labor Statistics. In comparison, Los Angeles County saw a 4% contraction in information industry employment.
Nationally, jobs in the information industry only rose 6.1%. Total employment rose 5.6% in Miami-Dade, outpacing the overall employment growth of 4.3%
Average weekly wages also rose at the fastest pace in Miami-Dade among the top 10 largest counties, to $1,353, up 8.8% from one year ago. Miami-Dade’s wages rose faster than other counties in the Sunbelt region like Dallas County, Texas (8.5%), Harris County, Texas (7.5%), Maricopa County, Arizona (7.5%), and San Diego (6.6%). In the counties that have been the source of people migrating into Florida, the average weekly wage rose at less than the national rate: New York County, New York (2%), King County, Washington (2.3%), Los Angeles, California (4.8%), Orange County, California (4.8%), and Cook County, Illinois (5.8%).
Workers in the information industry have the highest average weekly wages. In Miami-Dade, the average weekly wage is $2,390 compared to the average weekly wage across all industries of $1,353. Miami Dade’s average weekly wages rose at the second fastest pace of 11.6%, next to Harris County, Texas (13.1%). Average wages of workers in the information industry fell nationally (-2.8%) and in Cook County (-2.3%), Los Angeles County (-4%), and in King County (-9%). King County is where Seattle is located. Falling wages help explain the migration of people from these areas into Florida.