Unemployment rate in South Florida unexpectedly grows up in spite of new job opportunities

August 19, 2012

by Oriah

Florida, florida news, south florida, south florida news, unemployment, unemployment grows up in south florida, unemployment in south florida

Comments are off

Despite a little growth in the labor force, South Florida saw an increase in the overall unemployment rate during the month of July. In accordance with the state data, its unemployment rate (not adjusted) after the month of July is 9.3 %. A month back, South Florida had an unemployment rate (not adjusted) of 9.2%. So, there is a slight increase in the overall unemployment rate in South Florida despite the fact that 1,454 jobs were created throughout the month of July.

Mainly because available labor force has experienced an expansion in South Florida, ,the overall unemployment rate has had an increase. There had been an addition of 1,685 unemployed individuals only in July that makes the total number of unemployed people to 271,688. Nevertheless, employment condition in South Florida in July 2012 is much better than that of July 2011. In July 2011, the total unemployment rate in South Florida was 10.6%. Since then South Florida added 69900 new jobs in the last one year. Professional and business services played pivotal role in the job creations and helped reducing the unemployment rate to 8.6% in June,2012 and 8.8% in July, 2012. Whereas the national unemployment rate is 8.3%, the unemployment rate in South Florida does not look to be quite promising yet, the main reason being the continued loss of jobs in government sectors. Construction industry was also responsible for the continued loss of jobs.

As far as individual counties are concerned, Miami-Dade County saw an improvement in its not seasonally modified unemployment rate. In July its unemployment rate was 9.9 % , a way down from 10.3 % in June, 2012 and 11.5% in July,2011. From the 51,141 jobs it created in the last one year, only 3,387 were produced during the month of July,2012.

“Whenever you take a look at where we’re now in comparison to last year, it’s apparent our overall local economy is enhancing,” stated Ron Beasley, executive director from the Florida Workforce Investment Board.

The majority of the job growth, in Beasley’s district, were within the utilities, transportation, and trade sector. Then comes the professional and business services. Education and health related services also played a major role in job growth in Beasley’s district. But, the district witnessed regular loss of jobs in government and construction sectors.

Among the counties that produced new jobs, Broward County was one of them. Yet, the unemployment rate of the county increased since individuals who formerly were not counted within the labor pool rejoined the accessible work force. The exact unemployment rate in Broward was 8.1 % in July, up from 7.8 percent in June, but lower from 9.7 percent in July 2011. Broward has had 19,282 new jobs in the last year that includes 2,025 in July, 2012. Job growth in Broward came mainly due to the growth in education as well as health services sectors.

Things are much different in Palm Beach County. The exact unemployment rate of the county is a bit higher in comparison with the other counties mentioned above. The unemployment rate of the county was 9.8% in July and 9.2% in June. The unemployment rate of 11.5% in July, 2011 just reminds us of the new 12024 jobs that were created over the last one year. Along with new job opportunities, the county also witnessed loss of jobs. The county lost 3958 employees only in July, 2012.