Business

MIAMI —On Tuesday, June 4, 2019, the Miami-Dade County Board of County Commissioners adopted a new capital improvement program at Miami International Airport that will fund up to $5 billion in airport-wide modernization projects over the next five to 15 years, paving the way for future growth in passenger and cargo traffic at MIA - projected to reach 77 million travelers and more than four million tons of freight by the year 2040.

In April 2019, Miami-Dade County area was the second largest metro area in year-over-year job gains in Florida, following the Orlando-Kissi­­mmee-Sanford area. The County created 27,800 new non-agricultural payroll jobs (not seasonally-adjusted) from April 2018 to April 2019, which was a 2.3 percent increase. The jobs were created in different industries with the highest job creation occurring in Education & Health Services (6,200), Professional & Business Services (5,700), Transportation, Warehousing & Utilities (5,700), Leisure and Hospitality (4,400), Construction (3,600) Other Services (2,000), and Total Government (1,100). The graphs below show the payroll data since October 2017.

Unemployment rates were lower in April in 10 states and stable in 40 states and the District of Columbia, the U.S. Bureau of Labor Statistics reported today. Four states had jobless rate decreases from a year earlier, 1 state had an increase, and 45 states and the District had little or no change. The national unemployment rate declined by 0.2 percentage point from March to 3.6 percent and was 0.3 point lower than in April 2018.

MIAMI, Florida – PortMiami’s credit rating was upgraded to ‘A3’ with an outlook change to stable by Moody’s Investor Services while Fitch Ratings affirmed PortMiami’s ‘A’ rating with a stable outlook. The ‘A’ rating by both Moody’s and Fitch reflects PortMiami’s strong competitive position as the Cruise Capital of the World and as a leading cargo port, highlighting its fundamental operating strengths, and its sizeable minimum annual guaranteed revenues. With strong profit margins of 48.5% from 2013-2018, passenger and cargo volume increases of approximately 37% and 20%respectively, from 2013-2018, and anticipated capital improvements of around $1.5 billion, PortMiami is situated to continue as the leading port in the cruise industry.

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