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Miami-Dades Unemployment Rate Dropped to 10.9 percent

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Miami-Dade Countys unemployment rate for January 2010 was 10.9 percent. This was a decrease of 0.6 percent compared to December 2009 (11.5%) and an increase of 2.4 percent compared to January 2009. Despite the drop from December 2009 to January 2010, the unemployment rate remains high.

With the announcement of Visas expansion of their customer service center in Miami-DadeCounty and the assistance The Beacon Council is currently providing to other companies, we are hopeful that the unemployment rate will drop even further in the future.

The unemployment rate for the State of Florida was 12.2 percent. This was an increase of 0.6 percent compared to December 2009. The United States unemployment rate was 10.6 percent in January 2010 and increased by 0.9 percent from December 2009. The Miami-Dade Countyunemployment rate is lower again than the State of Florida.

For neighboring Broward County, the unemployment rate in January 2010 was 10.8 percent. This was an increase of 0.6 percent compared to December 2009 and an increase of 3.2 percent compared to January 2009. For Palm Beach County, it was 12.5 percent. This was an increase of 0.8 percent compared to December 2009 and an increase of 3.5 percent compared to January 2009.

The overall unemployment rate for the tri-county area in January 2010 was 11.2 percent. The South Florida region (Miami-Ft. Lauderdale-Pompano Beach MSA) experienced a decrease in employment of 92,300 non-agricultural jobs between January 2009 and January 2010, or a decrease of 4.1 percent.

Non-agricultural companies in Miami-Dade County lost 31,200 jobs between January 2009 and January 2010, a decrease of 3.1 percent. Most sectors lost jobs between January 2009 and January 2010. The construction sector experienced a decrease in employment of 6,200 jobs or 15.6 percent between January 2009 and January 2010. During the same period, manufacturing lost 4,700 jobs (-11.8 percent), retail trade lost 3,500 jobs (-2.9 percent), financial activities lost 2,900 jobs (-4.4 percent) and leisure and hospitality lost 2,600 jobs (-2.5 percent).

At the same time, there are a few sectors that have gained jobs between December 2009 and January 2010. This indicates companies have begun hiring, albeit cautiously.

Sector

  • December 2009 - January 2010 Job Change (% Change)
  • Wholesale Trade: 500 (0.8%)
  • Financial Activities: 900 (1.4%)
  • Local Government: 600 (0.5%)
  • Federal Government: 300 (1.5%)
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