ECONOMIC TIME MACHINE

Unemployment claims still dropping in South Florida

 

Fewer people are seeking jobless aid, continuing a two-year recovery trend.

dhanks@MiamiHerald.com

Fewer people are joining South Florida’s unemployment rolls.

Last month, first-time claims for jobless benefits continued to drop, extending a two-year recovery streak that has helped bring down unemployment rates in Broward and Miami-Dade counties. Claims in June are down 13 percent compared to a year ago, and about 40 percent lower than the June peak hit in the summer of 2009 as the 2007-09 recession officially ended.

Even with the recovery, the numbers remain troubling. In Broward County, about 6,600 people filed for their first unemployment claims in June. In Miami-Dade, June saw nearly 9,600 people file for their first claims. Still, the new tallies left Broward’s claims down 15 percent for the year, and Miami-Dade’s down 12 percent.

A separate report counts roughly 200,000 people unemployment in both counties — down 15 percent from a year ago, but still more than double the 85,000 unemployed listed in 2005 when the economy was booming.

The Miami Herald’s Economic Time Machine tracks 60 local indicators in an effort to chart South Florida’s recovery from the Great Recession. By comparing current conditions to where they were before the downturn, the ETM attempts to measure how far back the recession set the economy. The answer so far: June 2003. Visit ETM headquarters at miamiherald.com/economic-time-machine for the latest updates.

Read more The Economic Time Machine stories from the Miami Herald

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