Job Growth Continues To Be One of The Strongest in The State at 3.9%
January Employment Report
Presented by CareerSource South Florida
The numbers analyzed
In January 2019, Miami MSA area was the second largest metro area in year-over-the-year job gains in Florida, following Orlando-Kissimmee-Sanford area. The County created 30,000 new nonagricultural payroll jobs (not seasonally adjusted), from January 2018 to January 2019 which was a 2.5 percent increase. The jobs were created in different industries with the highest job creation occurring in Professional & Business Services (8,500), Education & Health Services (6,800), Transportation, Warehousing & Utilities (5,300), Construction (4,000), Leisure and Hospitality (3,100) Other Services (1,600). The graphs below show the payroll data since August 2017.
|Sector||Jan 2018 – Jan 2019||Dec 2018 – Jan 2018|
|Professional & Business Services||+8,500 (+4.9%)||+800 (+0.4%)|
|Education & Health Services||+6,800 (+3.7%)||+300 (+0.2%)|
|Transportation, Warehousing, & Utilities||+5,300 (+7.1%)||-1,600 (-2.0%)|
|Construction||+4,000 (+8.2%)||-200 (-0.4%)|
|Leisure and Hospitality||+3,100 (+2.2%)||-2,200 (-1.5%)|
|Other Services||+1,600 (+3.1%)||+400 (+0.8%)|
|Information||+800 (+4.2%)||0 (0%)|
|Total Government||+700 (+0.5%)||-100 (-0.1%)|
|Manufacturing||+600 (+1.5%)||-1,200 (-2.9%)|
|Retail Trade||+300 (+0.2%)||-4,200 (-2.7%)|
|Wholesale Trade||-500 (-0.7%)||-700 (-1.0%)|
|Financial Activities||-1,200 (-1.5%)||-2,900 (-3.5%)|
The not seasonally adjusted unemployment rate for Miami-Dade County was 3.9 in January 2019. Compared to last year January there was a 0.2 percentage point decrease from the unemployment rate at 4.1 percent. Below the graph compares the unemployment rate for Miami-Dade County with that of the United States since August 2017. It shows that Miami-Dade County is tracking the unemployment rate of the United States over time, although lower in January 2019 than that of the United States. Compared to December 2018 there was a 0.4 percentage point increase from the unemployment rate at 3.5 percent due to the increase in the labor force.
In January 2019, the seasonally adjusted unemployment rate for Miami-Dade County (taking seasonal fluctuations in the labor force into consideration) was 3.6 percent, which was a 0.5 percentage point lower than in January 2018.
(Not Seasonally Adjusted)
|January 2018 to January 2019|
Unemployment Rate Change
(not seasonally adjusted)
|Palm Beach County||3.9%||-0.1%|
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.
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