Miami-Dade County Unemployment Rate Five Years Ending August 1, 2019
As can be seen in the accompanying chart, the unemployment rate remains low at 3.5%. It has, however, crept up from its recent even lower -the lowest since 2007 – levels of 3.0%. These minuscule levels of unemployment are a marked improvement from the 12.4% peak reached in 2009 following the subprime mortgage crisis. An uptick like this current one may very well be only a blip – let’s hope – but every uptick is worth carefully watching. There are economic storm clouds around the world, with large swathes of sovereign debt priced at negative yields, and the Fed right here in the good ol’ USA seems to be at least somewhat concerned. Thus, this little blip seems ever more worth watching.