What the data shows: Nonagricultural employment for the metro areas of the Gulf Coast in October and the percentage change over October 2008. The data is not seasonally adjusted.
What it means: Every area of the Gulf Coast reported larger percentage declines in year-over-year employment in October than the state (-4.4%) except for Punta Gorda, the smallest metro area. In fact, Punta Gorda showed the smallest annual percentage decline of any area in the state in October. While the Naples area was the last to feel the effects of the recession on the Gulf Coast, it suffered the largest annual percentage drop in employment in October of any area of the state. The Gulf Coast from Tampa to Naples has lost 99,500 jobs since October 2008.
Forecast: Economic uncertainty will continue to put pressure on employment growth until later next year. Expectations of a better tourism season this year may boost employment during the busy winter months, though year-over-year comparisons will remain depressed. Still, job loss has moderated and any improvement in the economy could stabilize the employment situation.
Area Employment Annual % chg.
Punta Gorda 40,400 -2.2%
Tampa-St. Petersburg-Clearwater 1,157,200 -4.8%
Bradenton-Sarasota-Venice 247,800 -6.4%
Cape Coral-Fort Myers 194,700 -6.8%
Naples-Marco Island 112,600 -7.3%
Source: Florida Agency for Workforce Innovation