Miami-Dade County Continues Adding Jobs as Economy Recovers From COVID

Key Takeaways

  • The June 2021 unemployment rate improved compared to last year.
    • The June 2021 unemployment rate decreased by 3% compared to last year. The unemployment rate increased slightly by 0.4% compared to last month.
    • Seasonally adjusted unemployment rates, which take seasonal fluctuations into consideration, continue to show a downward trend in unemployment rates.
  • Miami-Dade County adds thousands of jobs this June.
    • When analyzing the numbers by sector, most sectors experienced an increase in the number of jobs.
    • Nonagricultural payroll jobs increased by 45,300 from June 2020 to June 2021, a 4.1% increase. This was the third largest increase in Florida after the Orlando and Tampa areas.
    • There was a decrease of 5,700 nonagricultural payroll jobs, a 0.5% decrease from May 2021 to June 2021.This is due to the end of the academic school year when many of the employees of Miami-Dade County Public Schools who are on 10-month contracts are counted as not employed. In August, when schools start, they will be added to the payroll data again.

 

Unemployment Rate in Miami-Dade County (not seasonally adjusted)

As Miami-Dade County is slowly returning to life after the pandemic, unemployment rates have decreased in the last few months at the local and national levels. This June’s unemployment report shows that the unemployment rate decreased by 3% compared to June of 2020. The unemployment rate increased by 0.4%, from 6.7% in May 2021 to 7.1% in June 2021.

 

Note: The Miami metro area labor force statistics use a different measurement method than all other counties in Florida. The information for the monthly employment and unemployment estimates come from Current Population Survey (CPS). There are only seven large areas across the nation which uses this labor force statistics model. The graph compares the unemployment rate for Miami-Dade County with that of the United States since June of 2020.

 

Non-agricultural Payroll Jobs (not seasonally adjusted) – Miami-Dade County

  • Nonagricultural payroll jobs increased by 45,300 from June 2020 to June 2021; a 4.1% increase.
  • There was a decrease of 5,700 nonagricultural payroll jobs, a 0.5% decrease from May 2021 to June 2021.This is due to the end of the academic school year when many of the employees of Miami-Dade County Public Schools who are on 10-month contracts are counted as not employed. In August, when schools start, they will be added to the payroll data again.
  • When analyzing the numbers by sector, most sectors experienced an increase in the number of jobs.

 

The table below shows that most industries experienced an increase in the number of jobs compared to May of 2021 and to last year. The industries with the largest gains from May of 2021 include manufacturing and other services. Industries experiencing the largest gains since June of 2020 include leisure and hospitality and other services. This is to be expected as the hospitality industry lost the largest numbers of jobs at the beginning of the pandemic. Government, and education and health services show the lowest job growth from May to June of 2021.

 

Nonagricultural Employment

Miami-Miami Beach-Kendall MD (Not Seasonally Adjusted)

 

 

May 2021 to June 2021 change

June 2020 to June 2021 change

Industry

Level

PercentLevel

Percent

Leisure and Hospitality

2,300

2.0%19,100

19.7%

Professional and Business Services

900

0.5%17,500

10.4%

Other Services

1,300

2.8%5,300

12.3%

Transportation, Warehousing, and Utilities

1,800

2.3%4,100

5.4%

Financial Activities

800

1%4,000

5%

Retail Trade

300

0.2%3,800

3%

Manufacturing

1,300

3.2%1,200

3%

Information

-100

-0.5%400

2.2%

Wholesale Trade

-500

-0.7%-600

-0.9%

Education and Health Services

-4,800

-2.6%-1,500

-0.8%

Construction

-900

-1.8%-3,400

-6.3%

 

All Counties shown below have improved unemployment rates compared to June of 2020, with Palm Beach County showing the lowest rate.

 

 

June 2021
Unemployment Rate
(Not Seasonally Adjusted)
June 2020 to June 2021
Unemployment Rate Change (Not Seasonally Adjusted)
Miami-Dade County

7.1%

-3.0%

Broward County

5.7%

-8.3%

Palm Beach County

5.3%

-6.2%

Florida

5.7%

-6.0%

United States

6.1%

-5.1%

 

Unemployment Rate Decreases in Miami-Dade County (seasonally adjusted)

Seasonally adjusted unemployment rates, which take seasonal fluctuations into consideration, show a downward trend in unemployment rates. The seasonally adjusted unemployment rate for Miami-Dade County is 7.3% for June of 2021, which is 2.7% lower than in June of 2020. This June’s unemployment rate is 0.1% lower than the previous month.

From the data and analysis above, we continued to observe lower unemployment rates, which signals economic recovery. The community needs to remain focused on job-retention projects in targeted industries, as well as all sectors. 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.

 

Sources

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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