Gov. Scott: Miami Metro Area Unemployment Rate Drops Over The Year

Today, Governor Rick Scott announced that the Miami-Miami Beach-Kendall metro area’s unemployment rate has declined by 2.6 percentage points over the year, from 9.5 percent in January 2013 to 6.9 percent in January 2014. The Miami metro area gained the second-highest number of jobs in January 2014 among all metro areas in Florida compared to a year ago with 30,500 new jobs.

Governor Rick Scott said, “Today’s news that 30,500 jobs were created in the Miami area over the year is a huge win for families. Let’s keep working on building an opportunity economy here in South Florida where businesses can thrive and grow.

Nine of the ten major industry sectors gained jobs over the year in January 2014 in the Miami metro area, with only the government sector showing a decline. The industries with the largest job gains over the year were in trade, transportation, and utilities with 10,300 new jobs, professional and business services with 5,800 jobs, leisure and hospitality with 3,900 jobs, and education and health services 3,500 new jobs.

The Miami metro area had the third-highest online job demand in Florida in January 2014 with 23,019 job openings and had the third-highest number of openings for STEM occupations in January 2014 with 5,977 online ads. STEM is an acronym for science, technology, engineering and mathematics, and these jobs are considered high wage and high skill.

In January, CareerSource South Florida, along with the state’s other 23 Regional Workforce Boards, reported more than 38,800 Floridians were placed in jobs. An individual who receives employment and training assistance through a One-Stop Career Center and finds a job within 180 days is deemed a placement and may be reported by a regional workforce board. Of these individuals, 10,106 previously received Reemployment Assistance. In 2013, more than 479,064 Floridians were placed in jobs, with 135,384 former claimants finding employment.

Florida’s statewide unemployment rate for January 2014 was 6.1 percent, the lowest unemployment rate in the state since June 2008. Florida’s statewide unemployment rate has been below the national unemployment rate since August 2013, which was 6.6 percent in January. Since December 2010, Florida has gained 503,500 private sector jobs.

Every March, U.S. Department of Labor, Bureau of Labor Statistics (BLS) releases revised historical employment (jobs) and unemployment rates based on a benchmarking process to adjust the data. These benchmark revisions are mandated by BLS and take place this time every year in every state. The benchmark revisions represent an annual change in the level of employment or re-anchoring of survey estimates to actual employment counts from Reemployment Assistance tax records. This process also introduces new population inputs from the most recent Census and other revisions to economic data which leads to changes in the original estimates.

Employment data for February 2014 will be released on March 28, 2014. To view the January 2014 employment data visit www.floridajobs.org/labor-market-information/labor-market-information-press-releases/monthly-press-releases.

 

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