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Miami-Dade’s unemployment rate nears 12%

Posted on Fri, Nov. 20, 2009

Miami-Dade County’s unemployment rate for October was 11.8 percent. This was an increase of 0.4 percent compared to September (11.4) and an increase of 5.2 percent compared to October 2008. The unemployment rate for the State of Florida was 11.2 percent and the United States was 9.5 percent in October.

For neighboring Broward County, the unemployment rate in October was 9.7 percent. This was an increase of 3.6 percent compared to October 2008. For Palm Beach County, it was 11.4 percent. This was an increase of 3.8 percent compared to October 2008. The overall unemployment rate for the tri-county area in October 2009 was 10.9 percent. The South Florida region (Miami-Ft. Lauderdale-Pompano Beach MSA) experienced a decrease in employment of 73,300 non-agricultural jobs between October 2008 and October of jobs, or -3.1 percent.

Non-agricultural companies in Miami-Dade County lost 28,700 jobs between October 2008 and October 2009, a decrease of -2.8 percent. The construction sector continues to be of major concern, although the rate of decline has slowed down. It experienced a decrease in employment of 6,800 jobs or 14.9 percent between October 2008 and October 2009.

Other sectors that lost jobs between October 2008 and October 2009 include Retail Trade (-6.1 percent or 7,700 jobs lost), Professional and Business Services (-2.1 percent or 2,900 jobs lost), Local Government (-3.5 percent or 4,100 jobs lost), Financial Activities (-3.8 percent or 2,800 jobs lost), and Leisure and Hospitality (-1.2 percent or 1,200 jobs lost).

Still, some sectors continue to see positive growth between October 2008 and October 2009, including Ambulatory Health Care Services (1.4 percent or 700 jobs created), Wholesale Trade (0.8 percent or 600 jobs created), Management of Companies and Enterprises (2.3 percent or 200 jobs created), and Federal Government (1.0 percent or 200 jobs created).

When looking at job growth between September 2009 and October 2009, several sectors have begun to add jobs as well (even though some these sectors might have shown losses year over year). These include State Government (2.4 percent or 400 jobs created), Hospitals (0.5 percent or 200 jobs created), Telecommunications (3.1 percent or 200 jobs created), and Transportation, Warehousing and Utilities (0.9 percent or 500 jobs created).

Comments

While unemployment seems to be destroying many a families the city of coral gables is busy simply giving out settlement agreements to disgraced former employees who deserve to be waiting in line at the unemployment line not sharpening their claws waiting for money they don't deserve.

And that, folks, is in itself disgraceful.

said The irony at 23-Nov-09 08:46 AM star

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