LABOR FORCE & UNEMPLOYMENT:
The Southwest Florida labor force decreased by 3,802 persons or 0.5% in 2008. Unemployment in the region increased to 7.5% in 2008 compared to 4.7% in 2007. In 2007, the entire region experienced high rates of unemployment that exceeded the state level.

AIRPORT PASSENGERS:
The number of regional airline passengers decreased this past year. Southwest Florida International Airport experienced a 5.5% decrease in the number of Airline passengers; Sarasota/Bradenton Airport reported a decrease of 3.5%, while Naples Airport reported a decrease of 82.2%. As in the past years, passenger traffic peaked temporarily in the month of March, with more than 1,238,542 people traveling through Southwest Florida Airports.

RESIDENTIAL BUILDING PERMITS:
The construction industry, a major sector of the Southwest Florida economy, recorded an annual decrease in the number of building permits issued last year; due to the recent slump in the housing market. The region experienced a 62.4% decrease in the number of single family permits issued and a 73.8% decrease in the number of multi-family permits issued in 2008. Overall, total regional dwelling unit permits decreased by 67.7%. Please note in supporting tables: communities with incomplete information. The value of all reported residential permits decreased 63.5% from $2.8 billion in 2007 to $1.0 billion in 2008. The total value of all reported permit activity decreased 47.5% from $6.4 billion in 2007 to $3.4 billion in 2008.

SALES ACTIVITY:
Regional gross and taxable sales decreased in 2008. Gross sales decreased 11.7%, from $50.6 billion in 2007 to $44.6 billion in 2008. Taxable sales totaled $24.1 billion in 2008; a decrease of 13.5% over 2007 taxable sales of $27.9 billion. Typically, the winter and spring months of December through May register the highest gross/taxable sales. January and April were the peak months for gross ($4.9 billion) and taxable ($2.6 billion) sales respectively.

CONSUMER PRICE INDEX:
The Consumer Price Index measures the cost of items in several specific categories and is used as an indicator of the general rate of inflation through time. Between 2007 and 2008, the Consumer Price Index for all Urban Consumers, of the CPI-U, rose 3.8% from 207.3 to 215.3.