Notes from Charlotte County, Florida

The July 2008 Economic Report, created by the Charlotte County Economic Development Office, was recently released.  A link to the full report is below: 

ECONOMIC INDICATOR REPORT - JULY 2008

The report's summary is reprinted below:

 

UNEMPLOYMENT

Charlotte County’s unemployment rate for the month of

June 2008 was at 7.6%, significantly above the state’s

and the nation’s rate of 5.7%, resulting mostly from job

losses linked to the housing market downturn and the

general macroeconomic downturn.

 

EMPLOYMENT

Total nonagricultural employment for the month of May

2008 decreased to 42,600, which represents a 0.7%

decrease from the previous month.

 

TOURISM

Tourist Development Tax Revenues posted strong

double digit gains for the months of April and May 2008.

 

BUILDING PERMIT ACTIVITY & VALUATION

Building permits are in a general declining trend with

the exception of higher values in commercial activity.

 

HOUSING SALES ACTIVITY

The number of homes sold for the month of May

showed a 24.3% increase over last year’s data.

However, median sales price is still on a decline, which

is consistent with the market correction currently

underway.

 

CONSUMER PRICE INDEX

According to the Bureau of Labor Statistics the CPI

increased from 201.675 in June 2007 to 212.324 in

June 2008, representing a 10.649% year-over-year

increase.

 

TAXABLE SALES ACTIVITY

April 2008 taxable sales retail decreased 10% from

April 2007. Other than a sustained positive spending in

Business Investment, all other sectors monitored by the

Florida Legislature’s Office of Economic and

Demographic Research experienced decreased activity.


Posted by Mike Federau on July 23rd, 2008 4:00 PMPost a Comment (0)

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