February 2020 Data Employment Report

Miami-Dade County Jobs Data

NOTE FROM THE MIAMI-DADE BEACON COUNCIL:

In order to effectively re-calibrate the previous year’s data and establish benchmarks, both January and February Unemployment Rates are reported in March. March 2020 data will be released later in April, on the standard one-month delay given all reporting is backward-looking.

Given the present economic climate, we wanted to call attention to the timing for this report. As the data focuses on February 2020 (and its comparison to the prior year), the analysis does not reflect the economic realities the world now finds itself in due to the Coronavirus (COVID-19). While we are proud of the record-breaking unemployment numbers reported for the third month in a row, we know that the reality of Miami-Dade County’s present economic climate in the wake of this global pandemic will likely drive very different results in the months to come. This report does not speak to those challenges, but rather recognizes another month of historically low unemployment – something our community will work to re-establish and come together to mitigate the long-term impact of COVID-19 on our businesses, workforce and local economy as a whole.

The numbers analyzed

In February 2020, Miami-Dade County continued to have the lowest unemployment rate in its history (not seasonally adjusted) at 1.5 percent. Miami-Dade County had the lowest unemployment rate in Florida in February 2020. The County created 12,000 new nonagricultural payroll jobs (not seasonally adjusted), from February 2019 to February 2020 which was a 1.0 percent increase.

The highest job creation occurred in Leisure and Hospitality (4,200), Education & Health Services (3,800), Professional & Business Services (2,400), Transportation, Warehousing & Utilities (2,400), Retail Trade (2,100), Information (700), and Other Services (500). The graph below shows the payroll data since February 2018.

SectorFebruary 2019- February 2020January 2020 – February 2020
Leisure and Hospitality+4,200 (+2.9%)+2,900 (+2.0%)
Education & Health Services+3,800 (+2.0%)+3,300 (+1.7%)
Professional & Business Services+2,400 (+1.3%)+3,100 (+1.7%)
Transportation, Warehousing, & Utilities+2,400 (+2.9%)0 (0.0%)
Retail Trade+2,100 (+1.5%)-800 (-0.5%)
Information+700 (+3.4%)+200 (+1.0%)
Other Services+500 (+1.0%)+700 (+1.4%)
Construction      -300 (-0.6%)-100 (-0.2%)
Financial Activities-400 (-0.5%)+600 (+0.7%)
Total Government-400 (-0.3%)-600 (-0.4%)
Manufacturing -1,300 (-3.1%)-100 (-0.2%)
Wholesale Trade-1,800 (-2.4%)+300 (+0.4%)

The unemployment rate of 1.5 percent compared to last year February was a 1.1 percentage point lower unemployment rate at 2.6 percent in February 2019. Compared to January 2019 there was no percentage point change from the unemployment rate at 1.5 percent. Below the graph compares the unemployment rate for Miami-Dade County with that of the United States since February 2018. 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 sixteen months the United States had a higher unemployment rate than Miami-Dade County.

In February 2020, the seasonally adjusted unemployment rate for Miami-Dade County (taking seasonal fluctuations in the labor force into consideration) was 1.8 percent, which is 1.1 percentage point lower than in February 2019.

February 2020
Unemployment Rate
(Not Seasonally Adjusted)
February 2019 to

February 2020
Unemployment Rate Change
(Not Seasonally Adjusted)

Miami-Dade County1.5%-1.1%
Palm Beach County3.0%-0.4%
Broward County2.9%-0.4%
Florida2.8%-0.5%
United States3.8%-0.3%

From the data and analysis above, we saw improvement in the local economy for the month of February 2020. 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.

January 2020 Employment Report

January 2020 Miami-Dade County Jobs Data

Presented by:

NOTE FROM THE MIAMI-DADE BEACON COUNCIL:

In order to effectively re-calibrate the previous year’s data and establish benchmarks, January Unemployment Rates are reported in March (instead of February). The February 2020 data will be released later this month, with March 2020 employment data reported in April; that returns us to the standard one-month delay given all reporting is backward-looking.

While standard practice, we wanted to call attention to the timing for this report given the present economic climate. As the data focuses on January 2020 (and its comparison to the prior year), the analysis does not reflect the economic realities the world now finds itself in due to the Coronavirus (COVID-19). While we are proud of the record-breaking unemployment numbers reported for January 2020, we know that the reality of Miami-Dade County’s present economic climate in the wake of this global pandemic will likely drive very different results in the weeks to come. This report does not speak to those challenges, but rather recognizes a second month of historically low unemployment – something our community will work to re-establish as we work together to mitigate the long-term impact of COVID-19 on our businesses, workforce and local economy as a whole.

 

(Miami, Fl) March 17, 2020 – Miami-Dade County had the lowest unemployment rate in Florida in January 2020. The County created 10,900 new non-agricultural payroll jobs (not seasonally adjusted), from January 2019 to January 2020, a 0.9 percent increase.

The Numbers, Analyzed
The highest job creation occurred in Leisure and Hospitality (3,400), Education & Health Services (2,600), with most jobs created in the healthcare industry. Job creation also occurred in Transportation, Warehousing & Utilities (2,100), Professional & Business Services (1,800), Total Government (1,500), Information (1,200), and Construction (400), and Other Services (500). The graph below shows the payroll data since January 2018.

The unemployment rate of 1.5 percent compared to last year January was a 1.5 percentage point lower unemployment rate at 3.0 percent in January 2019. Compared to December 2019 there was a 0.1 percentage point decrease from the unemployment rate at 1.6 percent. Below the graph compares the unemployment rate for Miami-Dade County with that of the United States since December 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 thirteen months the United States had a higher unemployment rate than Miami-Dade County.

In January 2020, the seasonally adjusted unemployment rate for Miami-Dade County (taking seasonal fluctuations in the labor force into consideration) was 1.9 percent, which is 1.0 percentage point lower than in January 2019.

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 industries most able to create additional well-paying job opportunities in Miami-Dade County, 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.

January 2020 Employment Report

January 2020 Miami-Dade County Jobs Data

Presented by:

NOTE FROM THE MIAMI-DADE BEACON COUNCIL:

In order to effectively re-calibrate the previous year’s data and establish benchmarks, January Unemployment Rates are reported in March (instead of February). The February 2020 data will be released later this month, with March 2020 employment data reported in April; that returns us to the standard one-month delay given all reporting is backward-looking.

While standard practice, we wanted to call attention to the timing for this report given the present economic climate. As the data focuses on January 2020 (and its comparison to the prior year), the analysis does not reflect the economic realities the world now finds itself in due to the Coronavirus (COVID-19). While we are proud of the record-breaking unemployment numbers reported for January 2020, we know that the reality of Miami-Dade County’s present economic climate in the wake of this global pandemic will likely drive very different results in the weeks to come. This report does not speak to those challenges, but rather recognizes a second month of historically low unemployment – something our community will work to re-establish as we work together to mitigate the long-term impact of COVID-19 on our businesses, workforce and local economy as a whole.

 

(Miami, Fl) March 17, 2020 – Miami-Dade County had the lowest unemployment rate in Florida in January 2020. The County created 10,900 new non-agricultural payroll jobs (not seasonally adjusted), from January 2019 to January 2020, a 0.9 percent increase.

The Numbers, Analyzed
The highest job creation occurred in Leisure and Hospitality (3,400), Education & Health Services (2,600), with most jobs created in the healthcare industry. Job creation also occurred in Transportation, Warehousing & Utilities (2,100), Professional & Business Services (1,800), Total Government (1,500), Information (1,200), and Construction (400), and Other Services (500). The graph below shows the payroll data since January 2018.

The unemployment rate of 1.5 percent compared to last year January was a 1.5 percentage point lower unemployment rate at 3.0 percent in January 2019. Compared to December 2019 there was a 0.1 percentage point decrease from the unemployment rate at 1.6 percent. Below the graph compares the unemployment rate for Miami-Dade County with that of the United States since December 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 thirteen months the United States had a higher unemployment rate than Miami-Dade County.

In January 2020, the seasonally adjusted unemployment rate for Miami-Dade County (taking seasonal fluctuations in the labor force into consideration) was 1.9 percent, which is 1.0 percentage point lower than in January 2019.

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 industries most able to create additional well-paying job opportunities in Miami-Dade County, 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.

Business Resources to help Mitigate Impact on Local Economy in Response to COVID-19

Business Resources to help Mitigate Impact on Local Economy in Response to COVID-19
Small Business Administration (SBA) & Florida Department of Economic Opportunity (DEO)
Activate Assistance to Businesses

(Miami, Fl- March 13, 2020)- The Miami-Dade Beacon Council, the County’s official economic development partnership, is engaged in ongoing dialogue with a variety of agencies and organizations across industry sectors that are working to identify solutions that will help businesses address economic hardships driven by Coronavirus (COVID-19). The U.S. Small Business Administration (SBA) and the Florida Department of Economic Opportunity are in the process of activating disaster relief programs in response to the global pandemic as they work to assess the impact the virus has had on the local economy.

“As we face the challenges that are presented daily by the Coronavirus, our priority continues to be the safety and well-being of our community’s residents and local businesses,” said Michael A. Finney, President & CEO, Miami-Dade Beacon Council. “We will continue to provide the most up-to-date information regarding available resources to make sure our workforce and the business operations of companies large and small have access to available aid and support during these difficult economic times.”

The resources confirmed-to-date are outlined below:

Business Damage Assessment Survey

(Florida Department of Economic Opportunity)
● Managed by the Florida Department of Economic Opportunity (DEO), the Business Damage Assessment Survey will evaluate businesses affected by COVID-19 and the impacts the virus has had on the local economy. The information gathered allows State Government to fully assess the comprehensive impact COVID-19 is having on Florida businesses and industries, then mobilize the appropriate resources to help alleviate those pressures. Area businesses are encouraged to complete the survey, ensuring State government has a thorough understanding of the scope of COVID-19’s impact on Miami-Dade’s economy. The Business Damage Assessment Survey can be taken online at https://floridadisaster.biz/. Results will be shared with state agencies and local partners, including the Small Business Administration (Coronavirus-related aid from SBA detailed below). For inquiries/assistance with the survey, contact Emergency Support Function 18 at ESF18@em.myflorida.com.

U.S. Small Business Administration (SBA):
Disaster Assistance in Response to the Coronavirus

● The SBA is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

● Loans of up to $2 million in assistance per small business and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.

● Loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%.

● Loans have long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

Click here to download a handout detailing the SBA’s COVID-19 Disaster Assistance Response. [PDF]

Click here to complete the Florida DEO’s Business Damage Assessment Survey, which can support both the SBA’s disaster loan application process and Florida Emergency Bridge Loan Program (which has not yet been approved for activation).

Click here to download a Sample Economic Injury Worksheet (use as reference/additional support for your application process). [PDF]

Click here to review the SBA’s March 12, 2020 Press Release regarding the assistance they intend to provide to Small Businesses impacted by Coronavirus

● For additional information, please contact the SBA Disaster Assistance Customer Service Center: 1-800-659-2955 (TTY: 1-800-877-8339) or disastercustomerservice@sba.gov.


Short Time Compensation Program

(Florida Department of Economic Opportunity)
● The Short Time Compensation Program is a voluntary employer program designed to help employers maintain their staff by reducing the weekly working hours during temporary slowdowns instead of temporarily laying off employees.

● If an employer establishes a Short Time Compensation Plan and an employee meets the qualifications to file a re-employment assistance claim in the state of Florida, the employee will receive a partial re-employment check to supplement their reduced paycheck.

● EMPLOYERS: To apply for the Short Time Compensation Program (required for employees to submit a re-employment claim), please follow this link to the Employer Login page of CONNECT.

● EMPLOYEES & EMPLOYERS: Click here for more information on the FL DEO’s Short Time Compensation Program.

For questions or concerns please reach out to BeaconHelp@beaconcouncil.com. We also want to understand how COVID-19 is directly impacting your business as this helps us better advocate for support.

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About The Miami-Dade Beacon Council
The Miami-Dade Beacon Council is Miami-Dade County’s official economic development partnership. The not-for-profit public-private organization focuses on job creation and economic growth. Since 1985, the organization has assisted more than 1,000 businesses that have created nearly 70,000 direct jobs and added more than $4.6 billion in new capital investments. It accomplishes this by marketing Miami-Dade as a world-class business location, growing local companies and fostering entrepreneurs, and shaping the County’s economic future. To learn more about The Miami-Dade Beacon Council, visit our website.

Talent Development Network’s CEO for a Day Program Sets the Foundation for Future Business and Community Leaders’ Success

For Immediate Release

Media Contact:

Maria Teresa Garcia

tgarcia@beaconcouncil.com 

Inaugural kick-off event to take place on January 29th at Marlins Park

(Miami, Fl) January 27, 2020- The Talent Development Network (TDN), supported by the Miami-Dade Beacon Council’s One Community One Goal (OCOG) initiative and its Academic Leaders Council (ALC), launches CEO for a Day, a community-wide talent initiative to mentor local students and assist them in developing valuable skills for futures as business or community leaders. The program kicks-off on January 29th at Marlins Park, where CEOs will be matched with local high school and university students in a system modeled after a Major League Baseball draft.

 

The Talent Development Network, operated out of the FIU Office of Engagement, works across the seven Miami-Dade academic institutions associated with OCOG’s ALC and with local industries to promote paid internships in an effort to recruit, develop and retain talent locally. The event will bring together outstanding students from Barry University, Florida International University, Florida Memorial University, Miami Dade College, Miami Dade County Public Schools, St. Thomas University, and University of Miami to be matched with CEOs and C-suite executives from more than 70 local corporates and small businesses including Florida Blue, the Miami Marlins, Microsoft and Uber. Miami-Dade boasts one of the largest educational ecosystems in the US with over half-a-million students attending ALC-member institutions.

 

The Talent Development Network and CEO for a Day are generously supported by the Helios Education Foundation, the Miami Marlins, and AT&T’s Believe Miami.

“Believe Miami combines the commitment and compassion of our employees with the strength of AT&T to help empower Florida’s young people with the skills and support they need to thrive,” said AT&T Florida President Joe York. “And through this initiative, AT&T is proud to support the Talent Development Network in their effort to empower more students to reach their highest potential.”

“Talent is the most important asset for any business,” notes Michael A. Finney, President and CEO of the Miami-Dade Beacon Council. “As we engage with businesses locally, nationally and internationally, we not only highlight the strength and diversity of our existing talent pool, but the strong pipeline that is being supported by every level of our education system. Partnerships with the business sector are instrumental to that development, which is why we are such strong supporters of paid internship programs like TDN and its CEO for a Day initiative.”

 

Event Details

What: Talent Development Network, AT&T, and Marlins Park present CEO for a Day
When: Wednesday, January 29, 2020 | 8:30AM
Where: Marlins Park, The Club: DEX Imaging
501 Marlins Way, Miami, FL 33125

Who: South Florida’s outstanding local university and high school students; South Florida CEOs and C-Suite executives; Miami Academic Leaders Council members.

A special welcome message will be shared by the CEO of the Miami Marlins, MLB Hall of Famer, Derek Jeter.

 

About the Talent Development Network

The One Community One Goal Talent Development Network (TDN) is the collective effort of Miami’s seven major educational institutions – Barry University, Florida International University, Florida Memorial University, Miami Dade College, St. Thomas University, the University of Miami and Miami-Dade County Public Schools. They form the Academic Leaders Council and work alongside Miami’s economic development agency, the Beacon Council, as well as industry partners, to build and retain talent and align academic curriculum with industry needs in South Florida. The Talent Development Network (TDN) is an innovative economic and career development program on a mission to build a robust internship culture in Miami Dade. For more information and to access the TDN Internship Portal: https://home.tdnmiami.com/index.html


About One Community One Goal
One Community One Goal is a roadmap for Miami-Dade County’s future economic development success.  This initiative provides a collaborative platform that promotes community-wide economic development and prosperity in Miami-Dade County, by driving innovation, leveraging strengths, providing clear thought leadership, and coalescing public and private priorities. One Community One Goal brings together a broad spectrum of Miami-Dade organizations, working to advance the goal of a thriving, inclusive and diverse community.

 

 

About the Miami‐Dade Beacon Council

Miami‐Dade Beacon Council is the official economic development organization for Miami‐Dade County. Its mission is to increase jobs and investment through marketing Miami as a world class business destination; helping grow local companies; and shaping Miami’s economic future. Since 1985, the organization has assisted more than 1,000 businesses that have created nearly 70,000 direct jobs and added more than $4.7 billion in new capital investments. A professional staff and volunteer community leaders work to promote Miami as a world‐class 21st century community at the forefront of a changing global economy. For more information: www.beaconcouncil.com

December Employment Report

Sponsored by:

Unemployment rate hits a breaking record of 1.8%, lowest rate in the State of Florida

(Miami, Fl)- January 27, 2020- Miami-Dade County has created 25,900 new jobs in the past 12 months, while unemployment hits a breaking record of 1.8%, lowest rate in the State of Florida. The numbers show Miami-Dade County has a strong and diversified economy with Education and Trade & Logistics leading the way in the past year.

 

Miami-Dade County is successful as a community. In 1997, One Community One Goal, Miami-Dade’s economic development strategic plan identified seven target industries with the highest potential job growth and high wages, which included: Aviation, Banking & Finance, Creative Design, Hospitality & Tourism, Technology & Innovation, Life Sciences & Healthcare, Trade & Logistics. For over 20 years, the Miami-Dade Beacon Council has led community efforts to expand and strengthen these industries to continue to create jobs in all these sectors resulting in a diversified, strong economy with a large labor force.

 

The numbers analyzed

 

In December 2019, Miami-Dade County had the lowest unemployment rate in its history (not seasonally adjusted) at 1.8 percent. Miami-Dade County, together with Monroe County (the Florida Keys), had the lowest unemployment rate in Florida in December 2019.

 

In addition, the area was the third largest metro area in year-over-year job gains in Florida, following Orlando-Kissimmee-Sanford and the Tampa-St. Petersburg-Clearwater. The County created 25,900 new non-agricultural payroll jobs (not seasonally adjusted), from December 2018 to December 2019, which was a 2.1 percent increase. In December 2019, Miami-Dade County reached the highest number payroll jobs it its history.

 

The highest job creation occurred in Education & Health Services (11,400), with most jobs created in the healthcare industry. Job creation also occurred in Professional & Business Services (4,400), Leisure and Hospitality (4,300), Transportation, Warehousing & Utilities (3,200), Total Government (2,400), Wholesale Trade (1,900), Construction (1,600), and Other Services (500). The graph below shows the payroll data since October 2017.

SectorDecember 2018- December 2019November 2019 – December 2019
Education & Health Services+11,400 (+6.8%)-300 (-0.1%)
Professional & Business Services+4,400 (+1.4%)+900 (+0.5%)
Leisure and Hospitality+4,300 (+2.3%)+1,500 (+1.0%)
Transportation, Warehousing, & Utilities+3,200 (+3.9%)+2,300 (+2.8%)
Total Government+2,400 (+1.7%)-1,600 (-1.1%)
Wholesale Trade+1,900 (+2.6%)+800 (+1.1%)
Construction+1,600 (+3.0%)-1,100 (-2.0%)
Other Services+500 (+1.0%)-300 (-0.6%)
Retail Trade-100 (-0.1%)+600 (+0.4%)
Information-300 (-1.5%)0 (0.0%)
Manufacturing-1,600 (-3.8%)+400 (+1.0%)
Financial Activities-1,800 (-2.2%)+100 (+0.1%)

The unemployment rate of 1.8 percent compared to last year December was a 1.7 percentage point lower unemployment rate at 3.5 percent in December 2018. Compared to November 2019 there was a 0.9 percentage point decrease from the unemployment rate at 2.7 percent. Below the graph compares the unemployment rate for Miami-Dade County with that of the United States since November 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 twelve months the United States had a higher unemployment rate than Miami-Dade County.

In December 2019, the seasonally adjusted unemployment rate for Miami-Dade County (taking seasonal fluctuations in the labor force into consideration) was 2.8 percent, which is 0.7 percentage point lower than in December 2018.

December 2019
Unemployment Rate
(Not Seasonally Adjusted)
December 2018 to

December 2019
Unemployment Rate Change
(Not Seasonally Adjusted)

Miami-Dade County1.8%-0.7%
Palm Beach County2.7%-0.5%
Broward County2.5%-0.6%
Florida2.5%-0.8%
United States3.4%-0.3%

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 industries most able to create additional well-paying job opportunities in Miami-Dade County, 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 Miami-Dade Beacon Council and Publishing Partner HCP Media Launch Advantage Miami 2020

MIAMI, FL., January 10, 2020 – The Miami-Dade Beacon Council, together with custom media company HCP Media, proudly unveil the 2020 edition of Advantage Miami. This “go-to” resource
guide provides business owners, key decision makers and talent with essential information on MiamiDade County’s business advantages, including its growing tech ecosystem, strategic global location, infrastructure, diverse talent pipeline, and more.

“2020 is a milestone year for the Miami-Dade Beacon Council, as we celebrate our 35th year as Miami-Dade County’s official economic development partnership,” states Michael Finney, President
and CEO of the Miami-Dade Beacon Council. “This edition of Advantage Miami showcases some compelling success stories, as well as actionable data that stakeholders need in order to make informed, strategic decisions about the future of their business. Miami-Dade is uniquely positioned to support the kind of growth forward-thinking professionals are looking for; this publication helps us tell that story.”

The 2020 edition of Advantage Miami positions Miami-Dade County as one of the world’s premier destinations for new and expanding businesses. Driven by new technology concepts, an increasing flow of high-performing talent and abundant sources of capital, Miami is a hub of innovation and a magnet for global investment. Add a diverse and multilingual workforce, business-friendly local and state governments, and a vibrant quality of life, and one can see why Miami stands apart as a multifaceted destination to live, work and play.

“This is a community with a globally recognized profile, especially from a lifestyle perspective. We want to make sure that people – especially talent and companies’ decision makers – are just as familiar with Miami’s advantages as a world-class global business destination,” explains Maria Budet, Chief Marketing Officer for The Beacon Council. “This publication not only allows us to tell that data-driven story in a user-friendly way but allows us to start a dialogue that highlights how The Beacon Council can help businesses navigate that transition to this market in a seamless, successful way.”

“It is such a pleasure to create Advantage Miami on behalf of The Beacon Council knowing it is used to cultivate more business in Miami-Dade County,” says Marisa Beazel, President and Publisher of HCP Media. “This new edition is chock full of data, visually appealing photography and quotes from local business owners and community figures that continue to position Miami-Dade County as a burgeoning destination for art, technology, startups and more.”

For more information on this publication and for an opportunity to be a part of the next edition, please contact Cristiana Glassford at 305-376-5252.

 

About The Miami-Dade Beacon Council
The Miami-Dade Beacon Council is Miami-Dade County’s official economic development partnership. The not-for-profit public-private organization focuses on job creation and economic growth. Since 1985, the organization has assisted more than 1,000 businesses that have created over 70,000 direct jobs and added more than $5 billion in new capital investments. It accomplishes this by marketing Miami-Dade as a world-class business location, growing local companies and shaping the local economy’s future. For more information, visit www.beaconcouncil.com.

About HCP Media
As communication experts, HCP Media, a division of McClatchy, creates innovative, market-leading, cross-platform solutions that stay ahead of consumers’ evolving media habits. A custom publishing and promotion company, HCP produces over 75 custom publications for hotels, airlines and other clients. The company’s reach extends beyond the travel niche and into the global luxury market, including ensuite cruise line publications and luxury lifestyle magazines. Beyond the written word, HCP’s top-tier marketing and branding products include videos and websites, custom event marketing, strategic social media and blog content, and materials for national and global companies targeting affluent consumers, as well as accompanying sales, promotional and marketing programs. Together, these turnkey print and digital marketing solutions reach more than 80 million active travelers annually and 5 million unique monthly visitors on its combined websites. HCP’s work has also been recognized with more than 300 editorial, photography and design awards.

November 2019 Employment Report

Sponsored by:

Miami-Dade County has reached the highest number of payroll jobs in its history

The numbers analyzed

In November 2019, Miami-Dade County area was the third largest metro area in year-over-the-year job gains in Florida, following Orlando-Kissimmee-Sanford and Tampa-St. Petersburg-Clearwater areas. The County created 24,700 new nonagricultural payroll jobs (not seasonally adjusted), from November 2018 to November 2019 which was a 2.0 percent increase. In November 2019, Miami-Dade County reached the highest number payroll jobs in its history.

The highest job creation occurred in Education & Health Services (13,000), with most jobs created in the healthcare industry. Job creation also occurred in Leisure and Hospitality (3,400), Transportation, Warehousing & Utilities (3,000), Professional & Business Services (2,600), Total Government (2,300), Construction (1,700), Wholesale Trade (1,000), and Other Services (800). The graph below shows the payroll data since October 2017.

SectorNovember 2018- November 2019October 2019 – November 2019
Education & Health Services+13,000 (+6.8%)+1,600 (+0.8%)
Leisure and Hospitality+3,400 (+2.3%)+2,100 (+1.4%)
Transportation, Warehousing, & Utilities+3,000 (+3.8%)+300 (+0.4%)
Professional & Business Services+2,600 (+1.4%)-1,300 (-0.7%)
Total Government+2,300 (+1.6%)+1,800 (+1.3%)
Construction+1,700 (+3.1%)+700 (+0.5%)
Wholesale Trade+1,000 (+1.4%)+100 (+0.1%)
Other Services+800 (+1.5%)+100 (+0.2%)
Information-200 (-1.0%)+200 (+1.0%)
Financial Activities-400 (-0.5%)+900 (+1.1%)
Retail Trade-600 (-0.4%)+2,700 (+1.9%)
Manufacturing-2,500 (-5.9%)-200 (-0.5%)

The not-seasonally adjusted unemployment rate for Miami-Dade County was 2.7 percent in November 2019. This is among the lowest unemployment rates in Miami-Dade County’s history. The lowest rate was 2.5% prior to the Great Recession. Compared to last year November there was a 0.6 percentage point decrease from the unemployment rate at 3.3 percent. Compared to October 2019 there was a 0.2 percentage point decrease from the unemployment rate at 2.9 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 twelve months the United States had a higher unemployment rate than Miami-Dade County.

In November 2019, the seasonally adjusted unemployment rate for Miami-Dade County (taking seasonal fluctuations in the labor force into consideration) was 3.5 percent, which is 0.5 percentage point lower than in November 2018.

November 2019
Unemployment Rate
(Not Seasonally Adjusted)
November 2018 to

November 2019
Unemployment Rate Change
(Not Seasonally Adjusted)

Miami-Dade County2.7%-0.6%
Palm Beach County2.8%-0.5%
Broward County2.6%-0.5%
Florida2.7%-0.6%
United States3.3%-0.2%

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.

October 2019 Employment Report

In October 2019, Miami-Dade County had the highest number of non-agricultural payroll jobs in county history at  1,233,700.

The numbers analyzed

In October 2019, Miami-Dade County area was the third largest metro area in year-over-the-year job gains in Florida, following Orlando-Kissi­­mmee-Sanford and the Tampa-St. Petersburg-Clearwater areas. The County created 23,600 new nonagricultural payroll jobs (not seasonally adjusted), from October 2018 to October 2019 which was a 2.0 percent increase. The highest job creation occurred in Education & Health Services (9,900), with most jobs created in the healthcare industry. Job creation also occurred in Professional & Business Services (5,400), Transportation, Warehousing & Utilities (5,000), Leisure and Hospitality (3,100), Construction (1,700), Total Government (1,000), Wholesale Trade (600), and Other Services (600). The graph below shows the payroll data since October 2017.

SectorOctober 2018- October 2019September 2019 – October 2019
Education & Health Services+9,900 (+5.2%)+2,000 (+1.0%)
Professional & Business Services+5,400 (+3.0%)700 (+0.4%)
Transportation, Warehousing, & Utilities+5,000 (+6.5%)+2,200 (+2.7%)
Leisure and Hospitality+3,100 (+2.2%)+1,400 (+1.0%)
Construction+1,700 (+3.2%)-900 (-1.6%)
Total Government+1,000 (+0.7%)+1,800 (+1.3%)
Wholesale Trade+600 (+0.8%)-900 (-1.2%)
Other Services+600 (+1.1%)-400 (-0.7%)
Information-200 (-1.0%)+100 (+0.5%)
Financial Activities-900 (-1.1%)+400 (+0.5%)
Retail Trade-600 (-0.4%)+2,700 (+1.9%)
Manufacturing-2,000 (-4.7%)-500 (-1.2%)

The not-seasonally adjusted unemployment rate for Miami-Dade County was 2.9 percent in October 2019. Compared to last year October there was a 0.7 percentage point decrease from the unemployment rate at 3.6 percent. Compared to September 2019 there was a 0.2 percentage point decrease from the unemployment rate at 3.1 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 twelve months the United States had a higher unemployment rate than Miami-Dade County.

In October 2019, the seasonally adjusted unemployment rate for Miami-Dade County (taking seasonal fluctuations in the labor force into consideration) was 3.1 percent, which is 0.4 percentage point lower than in October 2018.

October 2019
Unemployment Rate
(Not Seasonally Adjusted)
October 2018 to

 October 2019
Unemployment Rate Change
(Not Seasonally Adjusted)

Miami-Dade County2.9%-0.7%
Palm Beach County3.0%-0.4%
Broward County2.8%-0.3%
Florida2.9%-0.4%
United States3.3%-0.2%

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.

September 2019 Employment Report

The numbers analyzed

In September 2019, Miami-Dade County area was the second largest metro area in year-over-the-year job gains in Florida, following the Orlando-Kissi­­mmee-Sanford area. The County created 29,100 new nonagricultural payroll jobs (not seasonally adjusted), from September 2018 to September 2019 which was a 2.4 percent increase. The highest job creation occurred in Education & Health Services (11,100), with most jobs created in the healthcare industry. Job creation also occurred in Professional & Business Services (7,200), Construction (3,900), Transportation, Warehousing & Utilities (3,600), Wholesale Trade (2,100), Leisure and Hospitality (2,200), Other Services (1,600), and Total Government (900). The graph below shows the payroll data since October 2017.

SectorSeptember 2018- September 2019August 2019 – September 2019
Education & Health Services+11,100 (+5.9%)+1,800 (+0.9%)
Professional & Business Services+7,200 (+4.0%)0 (0.0%)
Construction+3,900 (+7.4%)+2,100 (+3.9%)
Transportation, Warehousing, & Utilities+3,600 (+4.7%)-600 (-0.7%)
Wholesale Trade+2,100 (+2.9%)+1,300 (+1.7%)
Leisure and Hospitality+2,200 (+1.5%)-900 (-0.6%)
Other Services+1,600 (+3.1%)0 (0.0%)
Total Government+900 (+0.6%)+500 (+0.3%)
Information-200 (-1.0%)0 (0.0%)
Manufacturing-600 (-1.4%)-700 (-1.7%)
Financial Activities-1,300 (-1.6%)-1,000 (-1.2%)
Retail Trade-1,600 (-1.1%)-1,200 (-0.8%)

The not-seasonally adjusted unemployment rate for Miami-Dade County was 3.1 percent in September 2019. Compared to last year September there was a 0.7 percentage point decrease from the unemployment rate at 3.8 percent. Compared to August 2019 there was a 0.4 percentage point decrease from the unemployment rate at 3.5 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 eleven months the United States had a higher unemployment rate than Miami-Dade County.

In September 2019, the seasonally adjusted unemployment rate for Miami-Dade County (taking seasonal fluctuations in the labor force into consideration) was 3.2 percent, which is 0.4 percentage point lower than in September 2018.

 September 2019
Unemployment Rate
(Not Seasonally Adjusted)
September 2018 to September 2019
Unemployment Rate Change
(Not Seasonally Adjusted)
Miami-Dade County3.1%-0.7%
Palm Beach County3.2%-0.2%
Broward County2.8%-0.3%
Florida3.0%-0.3%
United States3.3%-0.3%

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.