“Miami-Dade has a healthy, thriving economy. Seasonal fluctuations in unemployment are common this time of year, but we have seen many industry sectors add to their employment ranks,” stated Dyan Brasington, Executive Vice President, Economic Development at the Miami-Dade Beacon Council. “We’ve seen the transportation, warehousing, utilities, construction and manufacturing sectors mark significant gains in new jobs."
The numbers analyzed
Below the graph compares the unemployment rate for Miami-Dade County with that of the United States. It shows that Miami-Dade County tracks the unemployment rate of the United States, but at a slightly higher rate.
The graphs below show the payroll data since July 2016.
From 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 Miami-Dade County industries most able to create additional well-paying job opportunities, leading to an improved quality of life for Miami-Dade County residents. 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.
* The seasonally adjusted unemployment rate was unavailable at the time this report was composed.