A quick review of key economic indicators this morning shows we are slowly recovering. We knew there would be no quick fix, just hard work and determination—exactly what makes South Floridians so vital.
We still have too many unemployed—96,079 in May or 9.8 percent. With a labor force of 983,483, it’s important we continue to push for job creation at every opportunity.
Our hotel occupancy rates continue to show positive annual change at 63.6 percent in May, up 4.3 percent from the same month the previous year. Hoteliers continue to lower rates driving business until consumer confidence regains strength.
Passenger counts at the airport are looking good with 1,824,674 arrivals and departures in May—a marked 8.8 percent increase. The last negative month for the airport was back in August 2009. With expansion well under way of the new runway and terminals, we are positioned well as a transportation hub.
Sales of existing single-family homes and condominiums were mixed in May. There were 731 single-family homes sold, off six percent from the previous year. The median sales price was $216,400. Condos are still selling well with 965 sold in May, up 21 percent from 2009 at a median price of $81,500.
In short, we are moving in the right direction. If I looked hard enough, there would be some negatives. However, I learned a long time ago not to go looking for trouble.
Dan Lindblade, CAE
PS: If you want the full statistical report, email me, email@example.com