January 2012

Is The Miami Job Market Really Improving?

In Miami, the job market seems to be improving. If you look at it from the point of view of the unemployment numbers, the job market seems to be doing very well. On the other hand, some state that the reason these numbers look good is the county's declining labor pool. In 2011, there are improvements noticeable in the hiring of businesses. About 35,000 jobs have been added to the payrolls in the Miami Dade area in the last year. The unemployment rates in the area are down, too, so what's the big deal?

According to reports, Broward's unemployment rate was down to 8.6 percent for the month of December. Moreover, Miami Dade saw a drop as well, at 10.2 percent for the month. In the summer months, the unemployment rate there was at 13 percent. These numbers look good but there is a hidden factor playing a role in the true story behind them. People are leaving the labor pool and that means they are no longer counted as being unemployed individuals.

In Miami, Job Market Is Getting Better

The Miami job market is seeing improvement. In fact, investors are happy to say that things are getting better in the Miami Dade region. On Friday, a nationwide announcement indicated that the country added 200,000 jobs in the month of December. That helped to push the national unemployment rate lower, to 8.5 percent. More so, the report indicated that most of the country's largest industries are seeing growth. But, what does this mean for Miami specifically?

Finding the Jobs in Miami

The increase in employment nationwide does signal an increase in the Miami hiring numbers, too. For those who are looking for a job in this area, the strongest growth in the area continues to be in three specific industries: professional services, healthcare and tourism. For example, in Broward county, about 4700 jobs are on the payrolls this year that were not last year. 60 percent of those positions came from tourism in the area.