LABOR FORCE & UNEMPLOYMENT:
The labor force in Southwest Florida increased by more than 45,350 persons or 6.9% in 2006. Unemployment continued to decline in three counties while Lee and Sarasota stayed the same. As in 2005, the coastal counties again had low unemployment rates, while the rural counties of Glades and Hendry had high rates of unemployment that exceeded the state level. As a whole, however, the regional unemployment rate was below the state fi gure for the year.

AIRPORT PASSENGERS:
The number of airline passengers using the Region’s airports increased this past year. During 2006, Southwest Florida International Airport experienced a 1.7% increase while Sarasota/Bradenton Airport reported an increase of 6.6% and Naples reported a decrease of 23.3%. As in the past years, passenger traffi c peaked in the month of March, with more than 1,187,727 people traveling through Southwest Florida’s 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. Based on reports received, the region as a whole experienced a 31.8% decrease in the number of single family permits issued and a 29.9% decrease in the number of multi-family permits issued in 2006. The number of multi-family units decreased 40.9% from 2005 to 2006. Overall, total permits reported (single family plus multi-family permits) for the region decreased by 31.6%. The value of all reported residential permits decreased 19.4% from $8.5 billion in 2005 to $6.9 billion in 2006. The total value of all reported permit activity increased 12.1% from $12.7 billion in 2005 to $11.2 billion in 2006.

SALES ACTIVITY:
Gross sales increased 7.8%, from $48.4 billion in 2005 to $52.2 billion in 2006. Taxable sales totaled $30.2 billion in 2006, an increase of 5.1% over 2005 taxable sales of $28.7 billion. Typically, the winter and spring month of December through May register the highest gross taxable sales. January was the peak month, with taxable sales of $3.0 billion and January was the peak month, with gross sales of $5.4 billion.

CONSUMER PRICE INDEX:
The Consumer Price Index measures the cost of items in several specifi c categories and is used as an indicator of the general rate of infl ation through time. From 2005 to 2006, the Consumer Price Index for All Urban Consumers, of the CPI-U, rose from 195.3 to 201.6.