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.
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