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Unemployment Numbers as of 19 March 2009
Prepared by the City Manager's Staff
Based on data provided by the
Bureau of Labor Statistics at 9am on March 19, 2009 for January 2009.
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Projections for the Economy and Unemployment:
Even when this current recession is over, unemployment will continue to climb because historically it
has lagged behind economic growth after a recession. FED Chairman Bernanke has stated the country
may be out this recession by the end of this year or the first quarter of next year. In addition, the
economic stimulus legislation has been passed by Congress. However, leading economists feel
significant effects won't be felt at the local level until the end of the fiscal year.
Bureau of Labor Statistics Notice for March 19, 2009
• Unemployment rates were higher in January than a year earlier in 371 of the 372 metropolitan
areas and unchanged in 1 area.
• Among the 310 metropolitan areas for which nonfarm payroll data were available in January
2009, 254 metropolitan areas recorded over -the -year employment decreases, 55 reported
gains, and 1 was unchanged.
Unemployment update
Florida State
• Recent reports conducted by the Agency of Workforce Innovation show Florida's unemployment
rate is the highest since September of 1992, when it was at 8.6 percent. Florida's
unemployment rate is 8.9 percent.
• Florida's seasonally adjusted unemployment rate for January 2009 was 8.6%.
• The state's current unemployment rate is 1.0 percentage point higher than the national
unemployment rate of 7.6%. The January 2009 unemployment rate is the highest since
September 1992, when the rate was 8.9%.
• Florida lost 355,700 jobs just in January, and more than 800,000 residents are now unemployed.
• The jobless rate is forecast to reach 10.1 percent by the end of the year, according to a March
report by the Florida Economic Estimating Conference
• Since January a year 2008, the state has lost nearly 91,000 construction jobs, 30,000
manufacturing jobs, 60,300 retail, 18,600 financial and 77,600 professional and business service
jobs, such as legal, accounting and architectural services.
Miami -Dade County
• Miami -Dade County's unemployment rate for January 2009 was 6.8 percent.
• Miami-Dade's unemployment rate is lower than Florida's at 8.8 percent and lower than the
national unemployment rate at 8.5 percent.
• Non-agricultural companies in Miami -Dade County lost 29,400 jobs between January 2008 and
January 2009, a decrease of 2.8 percent.
Submitted into the public
record in connection with
items SP.1, SP.2 & SP.3
on 03-19-09
Priscilla A. Thompson
• The construction sector continues to be a concern, decreasing by 16.7 percent between January
2008 and January 2009. Other sectors that have been greatly impacted by the recession include
Retail Trade (-4.4 percent or 5,700 jobs lost), Professional and Business Services (-3.9 percent or
5,600 jobs lost), and Finance and Insurance (-4.3 percent or 2,100 jobs lost).
City of Miami
• Unemployment for the City of Miami in January 2009 is 7.1%. This is nearly a 3% increase from
.the same time last year, however this is a decrease of .4% from last month indicating slight
improvement.
• It is estimated that District 5 Unemployment rates should be well over 10%.
Submitted into the public
record in connection with
items SPA, SP.2 & SP.3
on 03-19-09
Priscilla A. Thompson