Is Bad Job Report Good Or Bad For Coral Gables

It is bad for Coral Gables if you think that sales on Miracle Mile are important, if you agree that sales taxes are important, if real estate is to come back, if you think that businesses depend fundamentally on consumer spending directly or indirectly, if we depend on our ability to finance good infrastructure, if you think that UM needs a prosperous economy to pay it way…

In May, the unemployment rate for Miami-Dade rose from 13.1 percent to 13.4 percent, matching a record set in 2010. In Broward, it crept back up to 9 percent. Adjusting for seasonal hiccups in hiring, Miami-Dade payrolls shrunk by 3,500 between April and May while in Broward they stayed flat. May ended a string of monthly gains in South Florida jobs in 2011, just as the national May employment report of 54,000 new jobs was the first lackluster gain of 2011.

via Dismal jobs report for June doesn’t bode well for South Florida numbers – Business Breaking News –

About Stephen E. McGaughey
Resident of the City of Coral Gables

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