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Hernando Today

County Jobless Rate Jumps Again

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By TONY HOLT

Hernando Today

Published: August 16, 2008

TALLAHASSEE - Hernando County slipped down a notch in its unemployment ranking - from seventh to eighth.

That still does not translate to good news. The county's rating still jumped from 7.5 in June to 8.4 in July - more than two full points higher than the state average.

In Florida, about 572,000 people are out of work in a labor force of more than 9.3 million, according to statistics from the Florida's Agency for Workforce Innovation (AWI).

Rises in local unemployment appeared imminent last year, when residential construction took a tumble.

Economists and statisticians say whenever an industry as large as construction falls, it is sure to have a domino effect. Those effects show up in retail, transportation, manufacturing and trade.

"We are seeing that multiplying impact," said AWI economist Rebecca Rust. "You're going to have workers without access to any disposable income ... and they may cut back on (spending), which can have an effect on other industries."

Florida's unemployment rate is at 6.1 percent, the highest it has been since January 1995, when it was at 6.5 percent.

Hernando County's labor force increased by 1,001 from June to July, but the number of unemployed workers rose from 4,768 to 5,408 - an increase of 640, according to AWI.
Hendry County remains tops on the list. For June, it listed a 10.3 percent unemployment rate. That number jumped to 13.6 in July.

Hendry was followed by Flagler at 10.6 percent; St. Lucie County, 9.5; Indian River County, 9.2; Okeechobee County, 9.2; Charlotte County, 8.6; and Lee County, 8.4.

Last month, Okeechobee was two notches below Hernando, but its rating went from 7.3 to 9.2, placing it fifth.

Health care, education and leisure and hospitality remain the few sectors that have seen significant gains in employment during the last year in Florida. By comparison, the over-the-year drop in the construction industry is nearly 80 percent, according to AWI.

Economists estimate that a turnaround in the housing market could occur by mid- to late-2009, Rust said.

Reporter Tony Holt can be reached at 352-544-5823 or wholt@hernandotoday.com.

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