Local Jobless Rate Hits New High at 11.7%

In another blow to the local economy, we're teetering close to 12% unemployment. Although it seems as if jobless claims nationally have slowed, I'm wondering if that's just a temporary thing. I know quite a few people struggling or laid off - for some, this couldn't come at a worse time.

For us in commercial real estate, that means fewer people able to spend which means stores and businesses will close. This results in more vacancies and more trouble for landlords who may need to meet cashflow requirements...not a good scenario at all.

Region's jobless rate hits 11.7 percent

By Kevin McQuaid

Published: Friday, July 17, 2009 at 10:34 a.m.
Last Modified: Friday, July 17, 2009 at 10:34 a.m.

Unemployment jumped higher during June in Southwest Florida in June, with Charlotte County hitting nearly 12 percent and Manatee and Sarasota counties not far behind.

Just short of 1 million employable Floridians do not have a job.

There were 44,355 people out of work collectively in the three counties, for a regional unemployment rate of about 11.7 percent, according to data released Friday by the Florida Agency for Workforce Innovation.

Hardest hit was Charlotte County, which saw its unemployment rate climb to 11.9 percent in June from 11.4 percent in May.

Manatee County had a jobless rate of 11.8 percent, up from 11.2 percent the previous month.

Sarasota County’s unemployment rate was 11.4 percent, up 10.9 percent in May.

Meanwhile, Florida’s unemployment rate crept up to 10.6 percent in June to stay at the highest level since 1975.

The rate was 0.3 percentage points higher than the revised May unemployment rate and is 4.6 percent age points higher than June 2008.

That means about 970,000 employable Floridians don’t have jobs.

Florida’s unemployment rate is 1.1 percent higher than the national rate of 9.5 percent.