Miami-Dade County Unemployment Rate has been lower for the Last Eight Months

Author  Maria Teresa Garcia

In June 2019, Miami-Dade was the third largest metro area in year-over-year job gains in Florida, following Orlando-Kissi­­mmee-Sanford and Tampa-St. Petersburg-Clearwater. The County created 24,900 new non-agricultural payroll jobs (not seasonally adjusted) from June 2018 to June 2019, which was a 2.1 percent increase. The jobs were created in different industries with the highest job creation occurring in Education & Health Services (9,400), Leisure and Hospitality (5,400), Transportation, Warehousing & Utilities (4,800), Construction (3,400), Professional & Business Services (1,600), Other Services (1,400), Information (400) and Wholesale Trade (400). The graphs below show the payroll data since October 2017.

jobnotenThe not seasonally adjusted unemployment rate for Miami-Dade County was 3.2 in June 2019. There was a 0.8 percentage point decrease from the June 2018 unemployment rate of 4.0 percent. Compared to May 2019 there was no percentage point difference from the unemployment rate at 3.2 percent. Below the graph compares the unemployment rate for Miami-Dade County with that of the United States since October 2017. It shows that Miami-Dade County was tracking the unemployment rate of the United States at a slightly higher rate until November 2018. For the last eight months the United States had a higher unemployment rate than Miami-Dade County. 

empoIn June 2019, the seasonally adjusted unemployment rate for Miami-Dade County (taking seasonal fluctuations in the labor force into consideration) was 3.3 percent, which was a 0.4 percentage point lower than in June 2018. 

unemFrom the data and analysis above, we see continued improvement in the local economy. Nevertheless, the community needs to remain focused on job creation projects in targeted industries. These industries have been identified as the industries most able to create additional well-paying job opportunities in Miami-Dade County, leading to an improved quality of life in the community. The Miami-Dade Beacon Council continues to aggressively work on attracting new companies to our community and work on the expansion and retention of existing business. For more information, visit www.beaconcouncil.com.

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 addition, the federal government typically conducts interviews in sample households to determine the unemployment rate. Miami-Dade County is one of six metropolitan areas in the United States that uses a different method solely based on a statistical model derived from several data sets.    

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