Category Archives: Miami

Miami Economy Continues to Strengthen

The Miami MSA labor market kept trucking along, building momentum in the first half of 2014. Miami added around 40,000 payroll jobs in the first two quarters of this year. We expect area employment to continue improving for the remainder … Continue reading

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Miami Benefits from the Cold Winter and Improving Economic Outlook

Snowbirds flocked to Miami’s beautiful beaches in order to thaw out from this winter’s unusually cold weather. Miami’s warm weather drew in more domestic tourism in the first part of 2014, with total domestic passenger deplanements at Miami International Airport … Continue reading

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Miami’s Road to Recovery

The Miami metro area was pummeled by the Great Recession. The area’s economy bled jobs for 23 consecutive months. Home prices and housing markets were hammered. Bankruptcies jumped, while incomes and consumer spending slumped. Seven years after the beginning of … Continue reading

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Miami Economy Set to Improve in 2014

Labor market metrics were mixed for the Miami metro area in 2013Q3. Payroll employment grew at a 3.2 annualized rate for the quarter, the highest growth rate seen since 2005Q3. The unemployment rate for the region declined  from 8.4 percent … Continue reading

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Miami Gains Momentum in 2013

Employment numbers continued to improve throughout the Miami region in Q2. Payroll employment grew 1.0 percent year over year from 2.28 million in 2012Q2 to 2.30 million in 2013Q2. Household employment, which grew 1.8 percent year over year in Q2, … Continue reading

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Miami Poised for a Stronger 2013

Following two consecutive quarters of job growth declines, Miami payrolls grew at a 1.7 percent annualized rate in the fourth quarter of 2012. This brings full-year 2012 job growth in Miami to just 0.6 percent, well-below the U.S. average of … Continue reading

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Miami Real Estate Markets Expected to Firm Up in 2013

After spiking at the end of 2011, Miami payrolls have declined for the last two quarters. Miami job growth is expected to be just 0.6 percent for full-year 2012, well-below the nationally forecast rate of 1.4 percent. Miami’s unemployment rate … Continue reading

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Multifamily Boom, Trade and Tourism Spurring Miami Growth

Following a year-end spike in employment in 2011, Miami payrolls paid back some of their gains, declining by 0.8 percent in the second quarter of 2012. Miami unemployment declined by 0.7 percent between the first and second quarters of 2012, … Continue reading

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Miami Stirring, Driven by Multifamily Boom

Miami labor markets were hit hard by the most recent recession, but have recovered slightly better than the national average. 2011 Miami payroll employment grew 1.6 percent, compared to 1.2 percent nationally.  Miami’s February unemployment rate of 9.6 percent is … Continue reading

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Miami Still Reeling from Housing Bust

Miami labor markets were not only hit harder by the recession, but have recovered more slowly than the national average.  2011 Miami payroll employment grew 0.9 percent, compared to 1.0 percent nationally.  Miami’s unemployment rate of 11.0 percent is only … Continue reading

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