The latest regional unemployment report underscores what we already knew: In South Florida, finding a job is a tough job.
The increase in the region’s total number of jobs – almost 16,000 in April – doesn’t diminish the fact that 260,000 people in Miami-Dade and Broward counties are looking for work. Unemployment is one of the lingering issues that most concerns Juan del Busto, regional executive for the Federal Reserve, he says, as the region moves toward recovery.
Part of the problem: Increased productivity. You don’t need to check the Bureau of Labor Statistics to know that most employees now carry the load once born by several workers. (In fact, in the first quarter of 2011, productivity rose at an annualized rate of 1.6 percent.)
Fewer workers doing more work = less hiring. And while that might not last forever, it’s likely to last a while longer, experts say.
The answer, say del Busto and others: More entrepreneurs.
In South Florida, it was a good week for those passionate about DIY business. The Commonwealth Institute celebrated women-led enterprises, FIU held its annual Entrepreneurship Hall of Fame ceremony, United Way cheered entrepreneurs at its annual women-in-business lunch panel and NFTE – which teaches entrepreneurship in high schools – held its annual competition.
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Read: “Jobs are scarce; make your own destiny,“ an article by MiamiHerald.com.