Florida Unemployment Down to 7.1 Percent, But Miami-Dade Still Struggling
Florida's unemployment rate hit another recent record low in May, according to numbers released today. The state's unemployment rate is now down to 7.1 percent. That's the lowest rate since September 2008 and down .1 percent from April.
Though, it's not all good news, especially here in Miami-Dade.
The state actually lost 6,200 jobs during the month. Job creation numbers are calculated from a survey of business owners, while unemployment numbers are taking from surveys of households. So the numbers don't always line up.
Meanwhile, in Miami-Dade the unemployment rate is down to 9.3 percent. Which is a noticeable drop from 9.7 in April, but as The Miami Herald points out a deeper look at the numbers doesn't give much to cheer about:
The labor force dropped by 8,000 people, and the number of people describing themselves as employed also declined by 3,000.
That combination can lead to a drop in the unemployment rate, which essentially measures the people looking for work in relation to the people working.
Their were 6,000 new jobs created in Miami-Dade last month, but that's down sharply from the job creation rate the county was experiencing at the end of last year by about half.