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November 16, 2012

October jobs report will set the trend in South Florida

Unemployment took a dive in September in South Florida. But can the region hold onto its gains in October?

Unemployment sits below 9 percent in Miami-Dade for the first time since 2008. But will the record hold through Friday morning?

At 10 a.m., Florida’s labor agency releases county-by-county employment reports from October, along with a report for the state as a whole. The most notable number for South Florida in September was Miami-Dade’s drop in the unemployment rate, from 9.2 percent to 8.8 percent.

Broward also saw a drop, from 7.6 percent to 7.4 percent. That’s the lowest since January 2009. Miami-Dade’s unemployment rate is the lowest since January 2008. And while a sharp increase is unlikely, it wouldn’t take much of a shift to move Miami-Dade’s number back into 9-percent territory.

Florida’s unemployment rate will get the most attention nationwide. In September, it sat at 8.7 percent. That’s slightly higher than its post-recession low of 8.5 percent hit in May, but still far better than the 10.4 percent rate of September 2011.

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