Lowest unemployment in 50 yrs local impact? (Sarasota, Siesta Key: sales, real estate, insurance)

[beach43ofus]

I just read that we now have the lowest unemployment rate in 50 years. I wonder how that will impact our local economy. More people working has got to mean more tourism (Red Tide won't last forever), more property sales, more buying stuff, more dining out. Wages are finally showing some growth too. Stocks at all time highs, interest rates finally climbing again. Let the good times roll!

[loves2read]

Have SIL who is unemployed since Feb--
College degree, good work skills/experience--but not in fields that predominate in local area--like medical or IT
He would have much more viable job search in area like DFW or Atlanta but he refuses to consider relocating

MOST jobs if you are not in medical field are in service industry
Part time and lower paying w/o benefits===
Not something to aspire to having really except you are willing to work 2-3 jobs to get enough to live on

[beach43ofus]

3 of my best college pals from Florida all went into medical sales in SE Florida and did well. They tell me medical sales isn't what it used to be and the glory days are almost gone. Fortunately, they all saved/invested and don't need to work anymore, but all 3 still do because they feel too young to retire, and are afraid of the healthcare insurance situation. They have too many years until Medicare kicks in, so they work for healthcare coverage and for a better retirement.

If I were starting out in Florida right now, I'd go the small business route, but not a restaurant, or retail. The home improvement aluminum companies are slammed, and I dont see that stopping anytime soon. One company I called to bid our job was booked until March 2019! I'd go to work at the best one, learn for 1 year, then start my own company. I'd serve the commercial market too for when the residential side slows. Or, take one over from an older owner looking to wind down. Working for other people in Florida isn't the way to go unless ownership is in the future, or if you are in a high demand booming niche (like genetic testing & consulting for instance).

The U.S. economy is hot, and Florida's a magnet for newcomers so the growth will continue. There's a lot of opportunity here, but the traditional workplace is not the place to be looking though.

[Gulf coast jon]

Originally Posted by beach43ofus

The U.S. economy is hot, and Florida's a magnet for newcomers so the growth will continue. There's a lot of opportunity here, but the traditional workplace is not the place to be looking though.

I respectfully disagree.

The US economy is hot because we are burning our house down. Repealing all regulations.

Florida won't recover from free-wheeling pollution.

It's going to be too hot all year round and too polluted for people to want to move here.

[beach43ofus]

jon,
When will people not want to move here? How soon might this occur? When will Florida become a net population outflow versus inflow?

Why do you think so many people are leaving New York, New Jersey, Connecticut, California, Illinois, Michigan?

Since China is by far the Worlds biggest polluter, would you support boycotting their products and imposing sanctions until they stop polluting so much? Would that be good regulation?

What regulation that was done away with do you feel is most harmful to the US economy?

[Gulf coast jon]

I disagree with your questions so I wouldn't even try answering them.

Originally Posted by beach43ofus

jon,
When will people not want to move here? How soon might this occur? When will Florida become a net population outflow versus inflow?

Why do you think so many people are leaving New York, New Jersey, Connecticut, California, Illinois, Michigan?

Since China is by far the Worlds biggest polluter, would you support boycotting their products and imposing sanctions until they stop polluting so much? Would that be good regulation?

What regulation that was done away with do you feel is most harmful to the US economy?

[beach43ofus]

Just trying to understand your logic. I understand now.

[beach43ofus]

The White hot U.S. economy seems to spilling in to our local economy. UTC Mall area was packed Saturday. I had difficulty finding parking spots in front of some stores across from the main Mall. Nearly everyone was carrying packages. Lots of sold signs in 2 new construction communities I drove through too. Considerable waiting line outside a restaurant Friday evening 6PM in early October. More crane's than ever downtown SRQ building $1M+ condo's.

Last Summer, Detweilers parking lot had 10-20 cars most weekdays. This year 50+...always crowded.

Does the local real estate association release total $'s sold each month as compared to prior year? I'd love to see the aggregate residential sales figures for September 18 vs 17 vs 16 for both single & multi family homes new & used.

There are tons of positive metrics out there. Consumer confidence, manufacturer confidence, low unemployment for every demo especially minorities and women, lower taxes, rising wages, normalizing interest rates, rising home equity, rising consumer debt (means consumers are feeling better about their job security and ability to repay loans).

The economy hasn't been this good since the 1980's. I can't wait to see how may snowbirds we get this Winter. I couldn't be more optimistic for the Country, our State, and our area. I hope everyone benefits from this record setting wave of prosperity. So much to be thankful for.

Oh, and Siesta Key beach was fine yesterday. Water's still not Blue like its suposed to be, but its not as Brown either. Lots of people there too.

[Sunshine Rules]

Does the local real estate association release total $'s sold each month as compared to prior year? I'd love to see the aggregate residential sales figures for September 18 vs 17 vs 16 for both single & multi family homes new & used.

September's statistics won't be released until Oct. 19th. Yes, our association does track sales numbers year to year for both single family homes and condos.

You can find the link here: Realtor Association of Sarasota and Manatee – Statistics

and here: Realtor Association of Sarasota and Manatee – MLS Statistics where you can also pull up reports from 2005 to current.

[beach43ofus]

Thank-you Sunshine. Lots of great news there too.