ECONOMIC TIME MACHINE

First-time jobless claims on their way back down

 

dhanks@MiamiHerald.com

Once again, fewer people in South Florida are filing for their first unemployment checks.

That had been the trend since 2010, when the region’s unemployment crisis peaked and the number of new lay-offs and payroll reductions started to ebb from horrendous levels seen in 2008 and 2009. Then, at the end of 2012, the number started to tick up again. Weak job reports followed, suggesting a shift was underway.

The latest numbers have put an end to that change, once again showing healthy declines from the prior year. In Broward and Miami-Dade, just under 13,000 people filed their first unemployment claims in June, down 20 percent from the prior year. That’s the fourth straight monthly decline, and a welcome shift from a trend of higher claims that ran from November through March.

Most of the growth came from Miami-Dade, with Broward showing steady improvement through the start of 2013.

In June, about 5,200 people filed for their first unemployment checks in Broward, down 21 percent. In Miami-Dade, 7,800 people filed, a 19-percent drop.

The Miami Herald’s Economic Time Machine seeks to give the long view on the latest financial numbers for South Florida. Visit miamiherald.com/economic-time-machine for analysis of the numbers that drive the local economy. Our ETM index tracks more than 40 local indicators to measure where the economy has “landed” post-bust when compared to earlier economic conditions. The latest reading: July 2003.

Read more The Economic Time Machine stories from the Miami Herald

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