Miami Adding People And Jobs Faster Than Any Other Major City

The population in Miami has grown at a faster rate than any other large U.S. city since 2008, according to a new study.

Miami is also the top ranked city for full-time job growth. Proportionally, more full time jobs were created in Miami during that period than any other major city.

Overall, Miami ranks second behind Austin in Wallethub’s index of large cities that have expanded most rapidly in socioeconomic terms between 2008 and 2014. The index included 10 key metrics, and Miami also ranked highly in measures of poverty rate decrease, growth in the number of small businesses, and household income growth.

Data for the study was obtained from the U.S. Census Bureau, the U.S. Bureau of Labor Statistics, and the Bureau of Economic Analysis.

 

 

 

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Anonymous
6 years ago

¡Dale!

PageOneRealty
6 years ago

Did you guys check the source? https://wallethub.com/edu/fastest-growing-cities/7010/#city
The largest city with the most growth is Austin. Miami is #2.

And as far as job growth, Miami is not in the top 5.
So the headline of this article is not accurate – you cannot say that “Miami adding people and jobs faster than any other major city”. Unless you pulled from another source … but the source you cited in the article does not back up the headline!

Anonymous
6 years ago

Austin is NOT a major city. Miami is the #1 major city with the most population and job growth.

Anonymous
6 years ago

Ummm…since when is Austin not a major city?

BrandonBe
6 years ago

All I’m going to say is: Live like you live here. If your only stopping by, leave it better then when you came. If you plan on calling it home for many years, get involved in the process and stop bitching from the sidelines/ chat rooms! Miami is home for the NE PA guy and frankly sometimes it exhausts me but I love Miami!

Anonymous
6 years ago

All sorts of negative comments about too many low-paying service jobs, too much reliance on the tourist industry and too much of a gap between the haves and the have-nots. But what these people are overlooking is the fact that an economic base which was established over the better part of a century is not reversed overnight, not anywhere.

Miami is now moving in the right direction. Serious economic development is finally taking root and overall the trend is in the right direction. Miami is not moving toward its past it is moving toward a newer and brighter future, which is clearly obvious to anyone who wishes to see it. It will take some time for it to completely unfold but fundamental change for the better is happening.

Anonymous
6 years ago

“Serious economic development is finally taking root and overall the trend is in the right direction.”

Citation requested.

Really???
6 years ago

I believe there is a post on here in late 2014 about how Miami added more jobs on a percentage basis than most places. I think we were third.

Here is an article from the Herald about overall economic outlook:
http://www.miamiherald.com/news/business/biz-monday/article5414133.html

“Preliminary estimates show that professional and business services grew 5 percent during the year ended in November to 395,300 full-time employees — or approximately one of every six in South Florida workers.”

“The growth of financial services in South Florida is about four times faster than in the rest of the country,” he said. “You see very little financial services growth in the rest of the country, but it’s growing 4 percent [annually] in South Florida,” said Vitner, of Wells Fargo Bank. “We’ve had a lot of specialty finance, hedge fund, private equity firms expand in the [Miami] area.”

“Brisk employment growth in the financial services sector appears linked to the migration of more wealthy individuals to South Florida, many of them investment managers, David said.”

“We have a massive number of hedge fund managers that are coming down here,” Davis said. “You have this wonderful combination of folks migrating from the Northeast and Latin America. So that kind of wealth coming in is going to drive financial services.”

Miami has fundamentally changed as a city. It used to primarily be a resort town (Miami Beach) with a small downtown that basically had no real residential. Now all that has changed to where we now have a solid foundation for an urban city that just happens to be minutes from one of the best beaches in the world. We’ll soon have City Center, World Center, All Aboard Florida, a convention center, etc.

It would be like having a small town in the middle of nowhere that slowly grows and then all of a sudden the build a freeway to it. These are transformative changes not just more of the same.

Anonymous
6 years ago

Well they did build up 2 new Walmarts in that time so…Seriously though, Miami is a city where there is a stark divide between those few who are flourishing and the majority who are barely making it by and increasingly becoming unable to enjoy all the city has to offer. It’s pretty sad that a city which has so many natural resources has hitched their wagon to being a tourist destination rather than to higher paying, more economically stable sectors.

Anonymous
6 years ago

I agree. Though these nice shiny buildings are nice to look at, what good are they when only the rich get to enjoy them? I refuse to believe there isn’t a market for nice, affordable homes in the city. A great % of the people who live in these buildings aren’t even full time residents, so if neighborhoods want to bring people in, and keep them in, they need to really work to attract local US buyers.

Anonymous
6 years ago

Unlike many Latin Americans yes the ultra rich do keep the priciest of toys within their Harvard network but a Kendall kid can end up in Harvard if he really wants. So what’s wrong w building for the rich network or those who really want them? A city shoodnt stop it’s growth to it’s potential bc the majority want to valet cars either. It’s up to is to want it. To mingle with the rich and give them the finger bc you didn’t need your daddy to help your otherwise substandard self ha!

Anonymous
6 years ago

What good are they that only the rich enjoy them?
Well…a one million dollar condo will be billed roughly 2% in property taxes, or $20,000.
40% of those property taxes go to Miami-Dade Schools. The rest to roads, police, fire fighters, psrks, etc.
Sooooooooo……smart locals love the shiny condos. ESPECIALLY when the owners don’t live in them or in this county. Rich people pay about $20,000 in property taxes per million in market value, then they send their kids to private schools! Get it…they for public schools AND private schools.
It’s a shame that these schools keep graduating dopes, but enough about some of the people paint here.
Smart locales love the overwhelming public benefit that luxury condos (more specifically, the people that own them) provide to our community.

Marc305
6 years ago

I know we are doing about 3 and half times better than back in 2008, and that is not a number I am pulling out of a hat, it comes from our accountant and the number of sales and rentals that we have had in the first three quarters of 2015. Despite of the doom and gloom you hear and see on TV, the housing market (at least in Miami) is doing better, and that has a lot to do with the large number of people moving to this area who can afford to live in South Florida.

Anonymous
6 years ago

Anyone needs a junior project manager ? Bachelor degree in business administration ( Michigan) + masters in international business ( switzerland) ! I would really appreciate getting â job

Adrian_toca IG
6 years ago

Yea but fulltime jobs at minimum wage means nothing!!!! Terrible lies. Just cause we keep building hotels and new properties. All that is happening is we are getting more fulltime housekeeping.

Really???
6 years ago

But that isn’t the case. Again sectors like professional and business services grew at a robust 5%, financial services grew at 4%. We adding a lot more than housekeeping.

Anonymous
6 years ago

Anyone have a link to the source?

Anonymous
6 years ago

The question is, how many are foreigners?

Anonymous
6 years ago

Answer: Nearly 80%

Yet Another Anonymous
6 years ago

My comment got deleted but it’s not clear if it refers to Miami vs new York Miami Dade vs NY County, or so fla vs new York metro.

Anonymous
4 years ago

Miami real estate values are skyrocketing ever since 2008

Anonymous
6 years ago

Then why I’m struggling to make rent

Anonymous
6 years ago

You’re doing it wrong.

Anonymous
6 years ago

Why are you stuggling to make rent?

Dude, you are one of the many millions in this country in the same predicament.

Anonymous
6 years ago

Uh huh… and are these low paying retail / hospitality jobs or high tech, office and manufacturing jobs?

Anonymous
6 years ago

Always a Republican in every group.

Anonymous
6 years ago

They are all low-paying service jobs

Anonymous
6 years ago

low paying

Yet Another Anonymous
6 years ago

By total or by percentage? Hard to believe more people added than new York and la etc.

Yet Another Anonymous
6 years ago

Thumbs down me but I’m right. Miami has gained almost 50,000 while New York has gained almost 500,000 in that time period.

Anonymous
6 years ago

Faster means in percentage by definition…

Danny Costa
6 years ago

We have a higher population than them by a slim lead.

marc
6 years ago

If you’re going by state yes, not city.

Really???
6 years ago

I think you’re getting the thumbs down because it should be obvious it’s by percentage. Comparing a 20 million person metro to a 6 million person metro on a nominal basis wouldn’t make much sense when you’re talking about population growth.

Now in terms of migration Miami had the most migration from another city of all the migration flows that were not regional. And coincidentally that migration flow was from NY to Miami.