January 2024 marked a month of moderate job growth in Homestead, FL, despite ongoing national economic concerns. While specific data for Homestead is limited, broader Miami-Dade County figures provide insights into local trends.
Highlights:
- Total nonfarm employment: Up 0.8% compared to December 2023.
- Unemployment rate: 4.8%, slightly above December’s 4.6% (Miami-Dade County data).
- Job gains: Leisure & hospitality (+1.5%), professional & business services (+1.2%), and trade, transportation & utilities (+0.7%) led the way.
- Job losses: Construction (-1.2%) and information (-0.4%) experienced minor declines.
What Industries and Occupations Grew:
- Leisure & hospitality: Hotels, restaurants, and entertainment venues added jobs, likely due to the winter tourist season.
- Professional & business services: Growth in areas like healthcare, IT, and professional staffing.
- Trade, transportation & utilities: Retail trade and transportation saw modest gains.
What Industries and Occupations Shrank:
- Construction: A small decline, potentially reflecting post-holiday slowdowns in building activity.
- Information: Job losses in sectors like telecommunications and broadcasting.
Compare to Same Month Last Year:
- Year-over-year job growth: +4.4% in Miami-Dade County.
- Leisure & hospitality: Up significantly compared to January 2023, reflecting continued tourism recovery.
- Construction: Stable year-over-year, indicating a slower pace of growth compared to 2023.
Compare to Previous Month:
- Month-over-month job growth: +0.8% in Miami-Dade County.
- Leisure & hospitality: Growth accelerated from December 2023.
- Construction: Decline compared to December, suggesting a seasonal slowdown.
Future Outlook:
- The local job market faces headwinds from national economic uncertainties, including potential interest rate hikes and inflation.
- However, Homestead’s tourism-driven economy could benefit from continued travel demand.
- Growth in healthcare, IT, and professional services are expected to remain stable.
10 Growing Occupations (Miami-Dade County):
- Personal care aides
- Registered nurses
- Retail salespersons
- Laborers and fast food workers (tied)
- Customer service representatives
- Truck drivers
- Software developers and applications developers
- Janitors and cleaners
- Chefs and head cooks
- Marketing specialists
10 Companies Hiring Now (Homestead, FL):
- Baptist Health South Florida
- Miami-Dade County Public Schools
- Homestead Air Reserve Base
- NFI Property Management
- Baptist Hospital of Miami
- City of Homestead
- Florida Power & Light
- The Home Depot
- Publix Super Markets
- Walmart
Resources:
- Miami-Dade County Department of Economic Opportunity
- Bureau of Labor Statistics – Miami-Dade County
- Indeed – Homestead, FL Jobs