Sarasota-Manatee 2.8% unemployment rate matches low for 2019

by

By John Hielscher, Staff Reporter, Sarasota Herald Tribune, 11/16/2019

Education/health services and construction industries lead job growth in Sarasota-Manatee.

Unemployment trickled down last month in the Sarasota-Manatee region, matching its lowest point since early spring.

The jobless rate was 2.8% in the two-county area during October, down from 2.9% in September and from 3.2% one year earlier, the Florida Department of Economic Opportunity reported Friday.

That tied the unemployment rate posted in April for the lowest so far in 2019.

The Sarasota-Manatee metro area added 5,500 jobs over the year, a 1.8% growth rate that fell short of the statewide average but topped the U.S. increase.

The education/health services sector added 2,500 jobs over the year, a 4.6% growth rate. Construction employers brought 1,800 more workers onto their payrolls, 7% more for the year.

“The construction, and education/health services industries grew as fast or faster in the metro area than statewide over the year,” the DEO said.

Other big job gainers included leisure and hospitality, up by 1,200, or 2.8%; professional and business services, up by 1,100 jobs, or 2.4%; and transportation-warehousing-utilities, up by 300, or 5.5%.

But three sectors reported job losses. Government employment declined by 1,000, or 3.6%; financial activities by 600, or 4.0%; and retail trade by 300, or 0.7%.

A variety of local employers were trying to fill positions. A total of 10,704 online ads were posted in Sarasota-Manatee in October, the state said, but that was down by 2,449 from last year. Among the most advertised occupations, as they are most months, were registered nurses, retail salespeople and supervisors, customer service reps, cashiers and supervisors of food preparation and service workers.

Universal Health Services, HCA Healthcare, Manatee Memorial Hospital, Bealls Inc., Southeastern Grocers and Marriott offered the most jobs.

A total of 360,504 workers, including agricultural, took home paychecks in October in Sarasota-Manatee. Another 10,403 were out of work.

In Charlotte County, unemployment dropped to 3.3% last month from 3.5% in September and the year-ago 3.8%.

A total of 69,977 people were working in Charlotte, also known as the Punta Gorda metro area, while 2,376 were jobless.

That county added 1,200 non-agricultural jobs over the year, a 2.4% growth rate. The education/health services sector grew by 300, or 3.1%, while construction increased by 200 jobs, or 4.4%.

The DEO only counts people actively seeking work as unemployed. The local numbers also are not adjusted for seasonal factors the way data is massaged for the overall state and U.S. counts.

Florida’s seasonally adjusted unemployment rate held steady at 3.2% in October, identical to the September rate and lower than the 3.3% reported a year earlier. There were 331,000 jobless Floridians out of a labor force of 10.46 million.

The U.S. unemployment rate was 3.6%.

“The state gained 228,600 jobs over the year, an increase of 2.6%,” the DEO said. “Nationally, the number of jobs rose 1.4% over the year. With the exception of September 2017, Florida’s over-the-year job growth rate has exceeded the nation’s rate since April 2012.”

BRENT LEATHWOOD, MBA

LICENSED REAL ESTATE BROKER | BK 3300751

CROSS BORDER REALTY LLC | CQ1046895
2100 CONSTITUTION BLVD. #207
SARASOTA, FL, 34231
(941) 882-2995
Contact
3 Big Mistakes Buyers make:

  1. 1. NOT KNOWING THE NEIGHBORHOOD...ContinuedReal estate always has been and always will be a local business. Know your neighborhood is a cardinal rule in this business. A real estate professional knows what is going on in their local market area. Hire a knowledge, local professional. When we see folks wandering around with a notebook and a list of questions, we know they are the most likely to make a costly mistake. A PROFESSIONAL Realtor, (please note the word professional), can spend 15 minutes listening to your needs and wants, and probably rule out 90% of the local market options, and focus your attention, on the 3 or 4 or 5 communities that will meet your needs, and make sense from both a financial and lifestyle point of view. I am amazed at how many people from out of State, go it alone, end up buying in the wrong community, and come to regret it. I meet people like this everyday, and everyone single one of them will say to me: “I wish we had met you first.”
  2. 2. GETTING STUCK IN AN HOA NIGHTMARE...ContinuedHome owners association nightmares are the stuff of legend in our State. Do not buy the wrong property in the wrong community. A knowledgeable real estate professional can explain to you upfront, the ins and outs of the HOA regulations of the community you are considering, and help you avoid 99% of these potential pitfalls. This is another very costly mistake.
  3. 3. THINKING YOU DO NOT NEED A REALTOR WHEN BUYING A NEW HOME...ContinuedEverybody knows you need a Realtor to represent you, when buying a resale home. Many do not know, you also need a Realtor to represent you, when buying a new home. The new home sales person in the model home works for the Builder, not the Buyer. They are paid to look out for their employer’s interests, not yours. You will not save $1 by going it alone. You will lose money. A lot of money. One of our largest local builders reported 872 annual sales, of which, 762 were handled by Realtors representing the Buyer. That is 87% of the total. The Builder has already factored paying a finder’s fee into the price. The Builder will not rebate $1 of this money back to you. Builders laugh under their breath, when Buyers try this negotiating tactic, even though they will politely agree with you. Professional representation costs you $0, why would you fend for yourself, in a market you know almost nothing about? Buyers know less than 20% of what they actually need to know, to get a great deal. Having gone through the new home buying process hundreds of times with clients, we know all the pitfalls to avoid, and how to make the process go smoothly. Do not go it alone, get professional representation, it costs you $0. Not doing this is the most costly of the 3 mistakes. But everyone has heard the old saying, you can lead a horse to water. We are in the business of helping our customers solve a problem. Our ability to do that, is the sole reason we have a thriving business. We are here to help you through the entire process, and get a great deal.

4 Big Mistakes Investors make:
  1. INCOME... ContinuedThe rental income does not justify the $/sq. ft. purchase price.
  2. EXPENSES... Continued The monthly expenses are too high, relative to the property type and rental income produced.
  3. CAP RATE... Continued The capitalization rate is too low to justify the investment.
  4. HOA REGS... Continued The home owners association regulations are too restrictive, or do not permit the intended use. Frequently overlooked or glossed over by some sales people, the long run financial consequences are catastrophic if a mismatch occurs.
Avoid Costly $$$ Mistakes: Hire Brent. Costs you $0.