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Slow, but Encouraging Trends of the South Florida Job Market

January 6, 2012

The South Florida job marketB has been experiencing a slow recovery within the last few months, and recent numbers show that the hiring rebound will continue throughout this year. Although things will continue to be slow there are a few encouraging trends that support the rebound which include:

  • Falling unemployment: Unemployment in Miami-DadeB hit a record of 13.4 percent in June, but in the more recent report unemployment had fallen to 10.2 percent.
  • Increased job security:B The Labor Department announced that nationwide claims for initial unemployment benefits are still below 400,000. Last month in Miami-Dade first-time claims declined 27 percent to 7,500 and 25 percent in Broward to 5,000.
  • Job growth:B Miami-Dade recovered nearly 30 percent of the 91,000 jobs lost during the recession, and in recent months job growth has been between 3 and 4 percent for Miami-Dade and Broward counties.

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Source: Miami Herald

 

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