MIAMI – South Florida Workforce has announced new economic data for the Miami Dade and Monroe Counties’ region.
The unemployment rate for February 2007 dropped 0.5 percent from a year ago and 0.1 percentage point lower than the state rate of 3.2 percent. Out of a labor force of 1,217,956, there were 37,757 unemployed regional residents in the Miami Dade area as compared to 42,067 last year.
Breaking out the two counties in the region, Miami Dade County reported 3.1 percent and Monroe County, 2.4 percent unemployment rates. Miami Dade County continued to show a decline in unemployment rates, down by 0.6 percentage point over the year. In addition, Monroe County reported a slight plunge of 0.1 percentage point over the year.
The South Florida region continued to expand its labor market during the year. In February 2007, nonagricultural employment in the Miami, Miami Beach and Kendall metro division was 1,053,600 with a net gain of 9,900 new jobs created or 0.9 percentage point over the previous year.
The metro division’s largest gains were in: natural resources, mining and construction (+2,800 jobs); trade, transportation, and utilities (+2,400 jobs); financial activities (+1,800 jobs); professional and business services (+1,200 jobs); and education and health services (+1,200 jobs) over the year. Additional industries making gains included in employment were leisure and hospitality (+1,000 jobs) and government (+700 jobs).
Compared to Florida’s other metro areas, the tri-county Miami, Fort Lauderdale, Pompano Beach metro area added the most jobs (+28,900) over the year. The Miami, Miami Beach and Kendall metro division accounted for 34.3 percent of the growth. Additionally, Miami, Miami Beach and Kendall ranked first in Florida’s metro areas for job gains in natural resources, mining and construction, adding 2,800 new jobs.
