Miami-Dade County has recovered from the recession, but our unemployment rate remains high.
Declining unemployment rates reflect Miami-Dade County’s strong job growth. Between 2013 and 2015, the local economy added jobs at a faster pace than Chicago, Houston, New York City and San Diego.
Seven target industries have fueled job growth within Miami-Dade County: Creative, Life Sciences, Hospitality, Aviation, Logistics, IT and Banking.
These target industries have collectively created nearly 45,000 jobs since 2010, representing more than 1 in every 3 jobs created in Miami-Dade County.
Miami-Dade County’s economy has rebounded from the recession. Continuing efforts to improve educational outcomes is critical to further this upward trend and increasing wealth.
Despite an improved employment outlook, median household income remains relatively low and has grown only modestly during the past five years.
The data shows that higher levels of education are associated with higher earnings.
Sustaining recent improvements in the quality of local education is key.
To boost college education rates in Miami-Dade County, the first step is to ensure students graduate from high school. Local high school graduation rates have shown steady improvement, yet they remain below the U.S. average.
In Miami, 93% of teachers are considered “highly qualified.” However, barely half of schools receive a rating of A or B, which in part can be attributed to availability of instructional resources.
Miami’s high school graduation rates have increased, however, not all residents are able to pursue post-secondary educational opportunities. As a result, many residents lack the necessary skills to pursue higher-wage employment opportunities.
While other communities have seen large increases in educational attainment during the past decade, Miami-Dade County’s gains have remained minimal.
Increased educational attainment is key to reducing Miami’s inequity.
The lack of greater educational attainment in Miami contributes to the county’s high level of inequity. The lack of greater progress in increasing educational attainment levels also further drives the region’s increasing equity gap.