Miami-Dade's Unemployment Drops

MIAMI-DADE'S UNEMPLOYMENT RATE DROPS TO 5.4, AND REMAINS BELOW STATE AND

NATIONAL LEVELS







Miami-Dade County's unemployment rate for July 2008 was 5.4 percent

(Seasonally Adjusted 5.2 percent). This is a decrease of 0.2 percent

compared to June 2008 and an increase of 1.3 percent compared to July

2007. The unemployment rate for Florida was also 6.4 percent

(Seasonally Adjusted 6.1) and slightly higher than the national

unemployment rate at 6.0 percent (Seasonally Adjusted 5.7). Also, there

was an increase in the labor force of over 18,831 people between June

2008 and July 2008.







For neighboring Broward County, the unemployment rate in July 2008 was

5.8 percent; this is an increase of 0.6 percent compared to June 2008

and increase of 1.9 percent compared to July 2007 and 6.9 percent for

Palm Beach County; this is an increase of 0.9 percent compared to June

2008 and increase of 2 percent compared to July 2007. The overall

unemployment rate for the tri-county area in July 2008 was 5.8 percent.

The South Florida region (Miami-Ft. Lauderdale-Pompano Beach MSA)

experienced a decrease in employment of non-agricultural jobs between

July 2007 and July 2008 of 11,200 jobs a decrease of 0.5 percent.







Non-agricultural companies in Miami-Dade County lost 3,900 jobs between

July 2007 and July 2008, a decrease of 0.4 percent. Retail trade

employment decreased between July 2007 and July 2008 by 1.8 percent.

Construction also decreased by 15.5 percent between July 2007 and July

2008. Still some sectors continue see positive growth. Sectors with the

increases include: hospitals, wholesale trade, local government and

leisure and hospitality.







Sector





July 2007 - 2008 Percentage Growth



Hospitals



8.2%



Leisure and Hospitality



1.9%



Wholesale Trade



1.6%



Local Government