Business

Miami-Dade unemployment ticks up in October

A construction worker carries building materials at the construction site of Downtown Doral.
A construction worker carries building materials at the construction site of Downtown Doral. Miami Herald

Miami-Dade County’s unemployment rate ticked up slightly in October to 5.3 percent, according to preliminary state numbers released Friday.

That was up from 5.2 percent in September but down from 6 percent in October 2015.

The jobless rate in Broward County held steady at 4.6 percent. Florida’s unemployment rate also nudged up to 4.8 percent, compared to 4.7 percent in September and 5.1 percent a year ago. The national rate stood at 4.9 percent. Except for Broward, those statistics are adjusted to account for seasonal changes in the workforce.

So far in 2016, South Florida has lagged the rest of the state because it depends more on economies in Latin America, which are struggling, and has been hit hard by Zika. Investors also nervously awaited the U.S. presidential election, but financial markets responded positively to Donald Trump’s victory.

Miami trailed other Florida metro areas in creating jobs in October. Orlando (up 47,400 new jobs), Tampa (up 32,600), Fort Lauderdale (up 26,800) and Jacksonville (up 24,5000) all outperformed Miami (up 15,300).

The biggest drivers of job creation in Miami-Dade last month were the construction and finance industries. Retail, trade and tourism all had slower months, dragged down by Zika and weak Latin American economies.

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