Beacon Council: Miami-Dade County’s Employment Picture Continues Upward Trend

Employment statistics released Friday (03/29) show a year-over-year gain of 12,700 jobs in Miami-Dade County

“Despite short-term fluctuations in the employment rate, we continue to see growth long-term. We need to keep our focus on the economic development recommendations proposed by One Community One Goal for systemic, long-term, success — Robin Reiter, Interim President, The Beacon Council

The numbers analyzed

The not seasonally adjusted unemployment rate from January 2013 to February 2013 fell by 0.1 percentage point, from 9.5 percent to 9.4 percent. This lower rate can be attributed to a combination of a decrease in the number of unemployed people as well as a decrease in the labor force. In addition, Miami-Dade County gained 4,900 jobs or a 0.5 percent increase from February 2012 to February 2013.

During the last year, from February 2012 to February 2013, the not seasonally adjusted unemployment rate rose 0.2 percentage points, from 9.2 percent to 9.4 percent.

warehouse

In February 2013, the seasonally adjusted unemployment rate for Miami-Dade County (taking into consideration seasonal fluctuations in the labor force) was 9.7 percent, which is 0.4 percentage points higher than January 2013. Miami-Dade County is the only Florida County to use the seasonally adjusted rate. With regards to the seasonally adjusted numbers, there was an increase in the labor force and the number of unemployed people. However, an increase in the number of employed people also was seen.

The job creation numbers are derived from the U.S. Bureau of Labor Statistics Current Employment Statistics Program (CES), and only account for non-farm payroll jobs. However, the unemployment rates are derived from the U.S. Bureau of Labor Statistics Local Area Unemployment Statistics Program (LAUS), which includes farm payroll jobs as well as self-employed workers.

In Miami-Dade County from February 2012 to February 2013, a variety of sectors saw improvements including Leisure and Hospitality, Professional and Business Services, Wholesale Trade, Retail Trade, Financial Activities, Transportation, Warehousing, and Utilities, Ambulatory Health Care Services, State Government, Federal Government, and Information. The improvements in these sectors represent a gain of 12,700 jobs or a 1.2 percent increase from February 2012 to February 2013.

Sectors that lost jobs between February 2012 and February 2013 include Local Government (-5,400 jobs), Manufacturing (-1,300 jobs), and Hospitals (-400 jobs).

Sector February 2012 – February 2013Job Change (% Change)
Leisure and Hospitality                           4,900 (+4.2%)
Professional and Business Services                           3,300 (+2.5%)
Wholesale Trade                           3,200 (+4.4%)
Retail Trade                           3,100 (+2.4%)
Financial Activities                           2,800 (+4.1%)
Transportation, Warehousing, and Utilities                              700 (+1.1%)
Ambulatory Health Care Services                              500 (+0.9%)
State Government                              500 (+2.8%)
Federal Government                              100 (+0.5%)
Information                              100 (+0.6%)

Between January 2013 and February 2013, 4,900 nonagricultural payroll jobs were gained or a 0.5 percent increase. Notably, Manufacturing and Professional and Business Services both experienced job growth during this period.

Sectors that lost jobs between January 2013 and February 2013 include: Retail Trade (1,400 jobs lost or a 1.0 percent decline), Ambulatory Health Care Services (1,100 jobs lost or a 1.9 percent decline), Financial Activities (400 jobs lost or a 0.6 percent decline), and Construction (300 jobs lost or a 1.0 percent decline.

Sector January 2013 – February 2013Job Change (% Change)
Leisure and Hospitality                           1,800 (+1.5%)
Professional and Business Services                           1,700 (+1.3%)
Wholesale Trade                              900 (+1.2%)
State Government                              500 (+2.8%)
Local Government                              400 (+0.4%)
Transportation, Warehousing, and Utilities                              400 (+0.6%)
Manufacturing                              200 (+0.6%)
Federal Government                              100 (+0.5%)
Hospitals                              100 (+0.2%)
Information                              100 (+0.6%)

The February 2013 unemployment rate for the State of Florida was 7.5 percent, a decrease of 0.5 percentage points compared to January 2013. The United States unemployment rate was 8.1 percent in February 2013, compared to 8.5 percent in January 2013.

For Broward County, the unemployment rate in February 2013 was 6.2 percent, a decrease of 0.5 percentage points from January 2013 and a decrease of 1.6 percentage points compared to February 2012. For Palm Beach County, the unemployment rate was 7.4 percent, a decrease of 0.6 percentage points compared to January 2013 and a decrease of 1.7 percentage points compared to February 2012.

The overall unemployment rate for the South Florida region (Miami-Ft. Lauderdale-Pompano Beach MSA) in February 2013 was 7.9 percent, down from 8.2 percent in January 2013. A year ago, in February 2012, the South Florida unemployment rate was 8.7 percent.

In terms of job creation in South Florida, the region gained 11,100 nonagricultural payroll jobs between January 2013 and February 2013, which represents a 0.5 percent increase. In addition, from February 2012 to February 2013, South Florida gained 36,600 jobs or a 1.6 percent increase.

Copy of Miami Emp AD 2013 fn w

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