Reso 2015-2405 - Laserfiche WebLink

Home Browse Search

PRESENTATION OF DATA 31 • Florida has made great strides in improving its competitive position compared with other states, attracting new and expanding businesses. Expansions in aviation, life sciences, higher education and technology are helping to pull additional investment and new businesses and jobs to the state. • The development of All aboard Florida, which will bring high-speed trains from Orlando to West Palm Beach and Fort Lauderdale, promises to strength urban development. Unemployment-According to the most recent released report from the Bureau of Labor Statistics, Florida's seasonally adjusted unemployment rate was 6.0% in October, 2014 - a decrease from the December, 2013 rate of 6.2%. Southeastern Florida-Unemployment Rate Trends County Workforce Unemployment Unemployment Unemployment (9/2014) Rate(9/2014) Rate(9/2013) Rate(10/2010) Miami-Dade 1,297,200 6.8% 8.1% 14.4% Broward 1,081,200 5.2% 5.9% 10.7% Palm Beach 686,600 6.0% 7.4% 12.5% State of Florida 9,633,900 6.1% 6.7% 12.4% U.S. 155,613,000 5.7% 7.0% 9.3% Source: BLS Items of Note: • South Florida unemployment dropped from 7.2%to 6.1% as of September, 2014. • Miami-Dade's unemployment dropped from 8.1% from 6.8%, according to the department's seasonally adjusted rates. • Following statewide trends, Broward County's unemployment dropped from 5.9% as of September, 2013 to 5.2% in September, 2014. • During that time, unemployment also dropped in Palm Beach County - to 7.4% from 6.0%. • Nationwide, unemployment rates improved from 7.0% to 5.7% for the year ending September, 2013. Miami Area Economic Conditions Compensation Costs for Wages and Salaries - Total compensation costs for private industry workers increased 1.2 percent in the Miami-Fort Lauderdale-Pompano Beach, Florida metropolitan area for the year ended September 2014, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Janet S. Rankin noted that one year ago, Miami experienced an annual gain of 2.4 percent in compensation costs. Locally, wages and salaries, the largest component of compensation costs, increased at a 1.7 percent pace for the 12-month period ended September 2014. Nationwide, total compensation costs and wages and salaries each increased 2.3 percent from September 2013 to September 2014. (See Chart 1 and Table 1.) Clobus, McLemore & Duke, Inc.