The Economic Time Machine

January 6, 2014

South Florida’s hiring recovery approaches an end

There are still 60,000 jobs missing from the pre-recession peak. But the end is arguably in sight.

South Florida’s hiring recovery at least has an end in sight.

Now in its seventh year, the downturn still has Broward and Miami-Dade down about 60,000 jobs from their peaks in August 2007, four months before the official start of the national recession in December 2007. While Broward had a stronger hiring year in 2013, it remains behind Miami-Dade in the recovery: down 35,700 payroll positions, compared to the 25,000 jobs still missing in Miami-Dade.

Those are still daunting numbers. Broward is 4.5 percent below its hiring peak, and Miami-Dade is down 2.3 percent. But corners have been turned and they’re both a long way from the depths in 2010. At the start of that year, Broward bottomed out with an 11.5 percent employment decline, and Miami-Dade bounced off an 8.7 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 2004.

Read more here: http://www.miamiherald.com/2013/11/12/3748936/jobs-growing-in-miami-dade-but.html#storylink=cpy

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