Rate this article:
Average rating:
Total votes: 0
If you've never been there, Miami is just as you might picture it, and at the same time, just the opposite.
Miami has more sunny days than most US cities -- and more annual rain than nearly all. Miami has a friendlier street culture than almost any Northern city -- and a violent crime rate more than double the national average (though it's in rapid decline). Conspicuous consumption is a way of life for legions of residents in this metro area of 2.3 million, where the average household income is about $7,000 below the national figure.
The population of Miami is both a microcosm of the United States and perhaps a preview of America's diverse future. Working people and retirees flock here from all 50 states, Latin America and beyond. Fifty-nine percent of residents call themselves Hispanic, and many of these also self-identify as white or black.
"There's a lot of culture, a lot of diversity," says Monica Rego, who was born in Guatemala and moved to the Miami area from Columbus, Ohio. "The cost of living is higher here, but it's worth it." When not at work, Rego, vice president of human resources for Kaplan University, says she enjoys Miami's easy access to the beach and speaking her native Spanish on the streets.
Miami's cost of living is actually moderate for a city of its size -- except for housing. The median price for a home in the metro area was $297,200 in the fourth quarter of 2004, up a whopping 25.5 percent from a year earlier.
Like many cities, Miami's labor market has suffered its downs and ups in the 2000s. The metro area's unemployment rate dropped from 5.3 percent in January 2004 to 4.7 percent a year later, beating the national rate of 5.7 percent (5.2 percent seasonally adjusted).
Miami is no Orlando, but it still employs 95,600 in leisure and hospitality. With the city's growing elderly population, healthcare is a major industry; 135,100 work in health and educational services. But commerce is king in Miami; the trade, transportation and utilities sector includes 260,900 workers. The fastest employment growth through 2012 is expected in three areas: educational services, healthcare and social assistance, and information technology.
High tech firms hiring in Miami lately include software maker Citrix and CIBER, an IT services provider.