South Florida’s economy has shown resilience and some growth over the past quarter, according to a new report from an economist at Florida Atlantic University. The findings stand in contrast to concerns about the broader national economy.
The South Florida Economic Outlook Report found that unemployment rates in Palm Beach County, Broward County, and Miami-Dade County were 3.75%, 3.54%, and 2.66% respectively—each below the national unemployment rate of 4.16%.
“Current data suggests the South Florida economy is doing well compared to national trends,” said Bryan Cutsinger, Ph.D., associate professor of economics in FAU’s College of Business. “The Federal Reserve noted an uptick in unemployment nationally. While South Florida is not immune to this trend, employment levels are still relatively strong.”
Cutsinger produces and updates the South Florida Economic Outlook Report quarterly. The report provides industry-specific data at the county level for Palm Beach, Broward, and Miami-Dade counties through resources such as the Tri-County Business Tracker, Tri-County Labor Market Tracker, and Tri-County Output Insights. These tools present information on business activity, employment levels by industry, annual salaries, and economic output for the region.
According to Cutsinger’s analysis, while there was stable or modest job growth across most industries in South Florida during the first quarter of 2025, there were declines in certain sectors. Manufacturing saw a slight decrease in jobs, and the finance sector experienced nearly an 8% drop in employment even as average salaries increased by 43%. There was also a slowdown in new business formation as indicated by the Tri-County Business Tracker.
“Taken together, we saw stable or modest job growth across most industries in South Florida,” Cutsinger said. “But whether that momentum continues is unclear. Our current data only covers the first quarter of 2025, and major policy shifts occurred afterward. With the trade changes introduced in April and the Fed’s rate cuts later in the year, we’ll have to wait for updated numbers before drawing firm conclusions about their effect on South Florida.”
The report aims to help business owners, policymakers, and residents track performance and identify trends affecting future decisions for the region.
