Flagler County’s unemployment rate in July rose to 5 percent, from 4.8 percent the previous month, the highest jobless rate since July 2021, when it was still trending down from the Covid pandemic slowdown. Palm Coast’s unemployment rate of 4.9 percent also matches a four-year high. The housing inventory in the county–the number of houses available for sale–hit a 15-year high, according to the latest available figures.
The number of unemployed Flagler County residents, 2,781, is the highest since October 2020, when 2,947 people were collecting unemployment. In Palm Coast, the 2,192 people receiving unemployment is the highest number since October 2020.
Flagler County is tied for 13th place with Putnam among counties with the highest unemployment rates in the state. Volusia County is at 4.7 percent, St. Johns at 4.1.
While the number of Flagler County residents collecting unemployment rose by about 100, the labor force added almost 400 workers, suggesting that more working-age people are moving in, or joining the labor force. The unemployment rate is affected as much by the size of the labor force as by the number of people on unemployment. It is not as worrisome if it rises because of an increase in the labor force, assuming the new workers are absorbed. But if it rises as the number of the jobless also rises, the outlook is less certain.
Other signs suggest a slowdown in Flagler County’s economy, which is heavily driven by housing. The number of active listings for houses, representing the inventory of available houses for sale, was 1,444 in April, up 34 percent from a year earlier, according to the Flagler County Association of Realtors.
It is the highest inventory since February 2011, when the county was recovering from the housing bust.
It was taking 43 percent more time for a house on sale to get to a contract, compared to a year ago, and the supply of housing had risen to six months. At the end of 2021, the supply was below one month. The figures strongly suggest that a housing glut may be building in the county, as construction continues apace.
In contrast, Florida’s unemployment rate held at 3.7 percent in July, with a state economist saying demand remains high for workers.
“The number of job openings is up from the same point in the year before,” Jimmy Heckman, chief of workforce statistics and economic research at the Florida Department of Commerce, said Friday. “So, we are really seeing strong demand for labor, which will give opportunities to unemployed Floridians.”
The unemployment rate also was 3.7 percent in April, May and June. A monthly report released Friday by the Department of Commerce said 417,000 people qualified as unemployed in July, up 2,000 from June. The labor force increased by 3,000 to 11.196 million.
The number of people collecting unemployment is not reflective of the full underemployment and unemployment picture, as it does not reflect the number of discouraged workers, those whose 12 weeks of unemployment benefits have run out (Florida has the stingiest unemployment-benefit period and one of the stingiest unemployment benefits in the country), or the number of people working part time for economic reasons. Those are the workers who want full-time jobs but whose hours have been cut back, or who could not find full-time employment. The state does not calculate that alternative measure of employment and underemployment. The Bureau of Labor Statistics does. Florida’s rate, by that measure, is 7.2 percent.
Florida’s official jobless rate in July 2024 was 3.4 percent. The number of unemployed people increased by 35,000 from July 2024 to last month, while the labor force grew by 25,000, according to the Department of Commerce report.
Private-sector employment increased by 5,700 in July, after dropping by 21,000 jobs in June. Heckman said while “that’s something that we’re watching,” no industries have showed sharp declines.
“We’ve seen job growth decline one month and bounce back somewhat in the next month,” Heckman said. “So, we are going to continue to watch that, as we go forward.”
The national unemployment rate in July was 4.2 percent, up from 4.1 percent a month earlier. The alternative measure shows the national rate at 7.8 percent.
Among broad categories listed in the Florida report, employment in the “financial activities” sector increased by 5,200 jobs in July. That category includes such things as finance, insurance and real-estate jobs. Employment in the “leisure and hospitality” sector increased by 1,600 jobs.
Meanwhile, employment in the construction sector dipped by 1,000 jobs, after declining by 1,600 positions in June, according to the report.
Across the state, the lowest unemployment rate in July remained in the Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area at 3.4 percent, up from 3.2 percent in June. Within that region, the rate in the Miami-Miami-Beach-Kendall area was at 2.8 percent.
The July rate was 3.9 percent in the Crestview-Fort-Walton Beach-Destin and Orlando-Kissimmee-Sanford areas.
The Panama City-Panama City Beach and Tampa-St. Petersburg-Clearwater regions were at 4.1 percent.
The Jacksonville area was at 4.2 percent. The Naples-Marco Island and Palm Bay-Melbourne-Titusville areas were at 4.3 percent. TheTallahassee, Pensacola-Ferry Pass-Brent and North Port-Bradenton-Sarasota areas were at 4.4 percent.
The Cape Coral-Fort Myers area was at 4.5 percent, the Port St. Lucie area was at 4.6 percent, and the Deltona-Daytona Beach-Ormond Beach and Gainesville areas were at 4.7 percent.
The highest rate in the state was 7.1 percent in the metropolitan statistical area that includes The Villages and Wildwood. The area was at 6.9 percent in June.
The Homosassa Springs area was at 6.2 percent in July, the Sebring area was at 6 percent, and the Punta Gorda area was at 5.1 percent. The Ocala, Lakeland-Winter Haven and Sebastian-Vero Beach areas were at 5 percent.
The statewide rate is seasonally adjusted, while the metro rates are not adjusted.
–FlaglerLive and News Service of Florida
–Jim Turner, News Service of Florida
Research says
The only reason there’s some semblance of demand for any labor in Flagler County is due to the fact that builders and developers are still going crazy mowing down all available undeveloped lots in Palm Coast and building cheap housing developments, rental homes and some homes for sale.
Synergy Homes here in Palm Coast is currently building rental homes for the institutional investment company on the NYSE called Invitation Homes. The houses that Synergy Homes is building for rental go up in 6 weeks to 2 months and are the most shoddy construction I’ve ever seen. They cleared an oversized lot across from me during October 2024 and by January the house was up for rent at $2195 a month. They couldn’t get anyone to rent it and so dropped the monthly rent and then after 5 months sitting empty, finally got someone to move in. I watched aghast as the house was built with such a thin layer of stucco on it that you could see the concrete blocks underneath. The house was then painted in 2 hours. Synergy also didn’t wait the designated time after the concrete foundation pour to let the foundation cure. It’s a disaster waiting to happen with that house, but was built as a rental so Synergy doesn’t care.
Invitation Homes, which has moved into Palm Coast, is an S&P 500 company that specializes in rental/leased homes. Check out “Invitation Homes” on the property appraiser’s website and find out how many rental properties Invitation Homes now has in Palm Coast.
My particular neighborhood in the “B” section is currently under assault from various builders clearing every available lot and building houses, whether for rental or sale, even though any intelligent person can read the financial stats to know that current inventory is currently at a 15-year high.
Check out “Invitation Homes”. They’re a subsidiary of BlackRock and/or Vanguard, 2 of the biggest institutional investment companies in the country with 88,000 properties all over the country, and 80+ now in Palm Coast.
BlackRock is a global asset management company.
This is what’s driving the Flagler County economy . . . greed and renting to people. They aren’t interested in pride of ownership. They aren’t interested in maintaining their rentals, at least the new Synergy Homes/now Invitation Homes rental across from me. The grass has been cut only 4 times since May.
However, if you invest in the stock market and in REIT’s, you already know this.
With the over building and the real estate market currently in free fall, it’s only a matter of time before we all experience another housing disaster. People still think they can put their homes up for sale and command 2021 prices when the interest rates were 2 percent. Those days are over.
Going downhill fast says
So glad we got out of Palm Coast when the getting out was financially beneficial.
The handwriting is on the wall and plainly visible to anyone who can read between the lines. Within 10 – 15 years Palm Coast will be another Holly Hill
Deborah Coffey says
Until people know the economic history of the Republican Party, this will always continue at the federal, state and local governments.
Some history from AI: https://www.google.com/search?q=what+percent+of+recessions+have+been+caused+by+Republicans+since+the+great+depression&rlz=1CAGXWE_enUS1135US1135&oq=what+percent+of+recessions+have+been+caused+by+Republicans+since+the+great+depression&gs_lcrp=EgZjaHJvbWUyBggAEEUYOdIBCTI0ODM1ajBqN6gCALACAA&sourceid=chrome&ie=UTF-8
Now that you know this, Google the causes of The Great Depression and note who the presidents were….
Kneel for Putin says
The orange terror and his forced recession! Republicans dismantled your government and filled it with fake news anchors!
Support future President Newsome to protect democracy and end the domestic terror of the Trump regime! The spineless pedophilla guardians sold you out like they did the national parks!
Roaring twenties says
Burn baby burn!! Once the housing market totally crashes the normal folks MAY be able to purchase a home again, (have to outbid Blackrock corporation )but that’s hope! Of course that’s if there’s any “jobs” left for people to do that pay enough to survive on at that point(highly unlikely). Warning: Tariff induced crash ahead! lol don’t say you weren’t warned!
JeffM says
What the article neglects to mention is 15 years ago Palm Coast’s population was 75,000. Today it’s 107,000. The article says there are 1,444 homes for sale now which is as many as in 2010. To have the same percentage for sale in relation to today’s population you’d need to have over 2,000 for sale. Basically, it’s not as bad… yet.
Republicans not welcome says
Fruit and vegetable prices rose 39% in July alone! Thank a Guardian Of the Pedophiles as they cut food assistance and funding to food banks! Oh and criminalize poverty! Oh and they support genocide! Oh and they cut funding for schools! Oh and they stole trillions! Should I go on?The GOP Terrorist are well funded these days! Locking up families at the orders of a child predator! Sick and disgusting ! Send GoP to Alligator Aushowitz! Work will set you free right?
This Old House says
As for the housing, what exactly did everyone think “affordable housing” would look like? The historical 2,000sf concrete block home on a quarter acre lot is not “affordable”. Quite frankly, never has. They’re meant for the above average earners or well funded retirees. So when you permit builders, developers and their investment groups to come in with lesser quality, higher density yet “affordable” homes, this is what you get. Low tides lower all boats. Prepare yourselves for a decade plus long sloth through a break-even or less housing economy. The party’s over.
Just say'n says
So after dems evacuate the places they destroyed up north and move south its somehow Republicans fault they gave them somwere to go. Housing is an issue everywhere in America and costs are ridiculous. And yes the new builds are crap built by UNSKILLED people who are just told “do this or do that” by a supervisor that speaks there language but also has limited skills.The blind leading the blind.So the left and right say we need cheap labor for…….fill in the blank,when what we need are skilled workers who know every aspect of the jobs to corect future problems with the home.How much do you think that would add to the price of a home?I personally go to many homes in palm coast new and old builds and there’s a difference and a big difference between renters and owners.Greed is the issue,it’s not a democrat or Republican issue it’s the same problem up north,you know,the place you left.
Jim says
Jimbo XYZ and Dennis, this one’s for you!!!
Well, six months into the TRUMP administration and here we go! UNEMPLOYMENT IS RISING! HOUSES ARE NOT SELLING! This is completely because of the TRUMP ECONOMY! This is the result of TARIFFS and UNCERTAINTY! Gas prices are as HIGH as they’ve ever been! Inflation is on the RISE! Food prices are RISING! It’s all because of TRUMP. He is SENILE and wearing a DIAPER! He thinks his uncle taught the Unibomber although he never went to MIT nor does the timeline work. He wins every golf round he plays because he CHEATS! On CAMERA! He said he’d end the Russia-Ukraine war on DAY ONE! What happened?
It’s a good thing TRUMP is the AMERICA FIRST guy! I can’t imagine how things would be if he didn’t love America.
I’ll stop there. Imitating simpletons hurts too much.
Deb says
I am so happy some sucker from New York just bought our place a few months ago. We ended up moving back to New York in a smaller town beautiful! I will have the four seasons again,zero traffic, overpopulation, and cooler temperatures and don’t have to worry about hurricanes destroying my property.
Dennis C Rathsam says
Blaming TRUMP for the fools that run P/C is assine. There will be no recession, democrats cry wolf everyday. The city with no balls should pass a law against eating up all the homes buy large investment groups. Look what happened in Deland. I came to P/C when it was a realtors nightmare, 1000 of homes for sale, one cheaper than the next, foreclosres everywhere…. I took a shot, I bought 3 of them, waiting in the wings to buy some more.
Shar says
STOP MOVING TO FLORIDA!!!!
FlaglerLive says
That’s a fair point, with a few caveats: the housing figures are countywide, and the population of the county in 2011 was 97,000. It is estimated to be 140,000 today, a 44 percent increase. Housing supply, however, is a measure of demand. Inventory was below a month’s supply until mif-2022. It has been shooting up since, from about 250 to 1,444–a 475 percent increase.
Ken says
People need to vote their interests and not because of ethnicity. The Hispanics built Palm Coast from the last 8yrs forward. Trump promised you everything and gave nothing. Now suffer at Walmart.
Nonya says
That is because the city management of Palm Coast are a bunch of fucking morons
Samuel L. Bronkowitz says
In 2010 the median home price in flagler was $130k. In June of this year it was $371k. Adjusting for inflation, that $130k home in 2010 would be $192k today, which is almost half of what the median home is today. Salaries and wages haven’t doubled and boy they’ve sure built a lot of storage places lately, haven’t they?
Dennis C Rathsam says
Mr Ken seems very confused….To sayT RUMP gave us nothing is a flat out Democrat lie! Who closed the border, without help from NOBODY! Who,s deporting BIDENS invaders at a record number? Who sent a spaceship to the space station, on a rescue mission? Who created the team that discovered millions of fraude & waste in our goverment? Who brought peace throughout the Middle East? Whos # 1 goal is to stop the murders in Ukraine, from day one? Who got the leaders from Europe to the Whitehouse in a matter of days, to end the war, & talk with Zelinskyy? Who’s cleaning up the streets of DC, removing all the tent cities & homeless bums? Ya,LL make me sick! TRUMPS done more for us in 100 days than BIDEN did in four yrs. As for home sales, they were flat under BIDEN too! His 9% inflation rate was masterful…. BIDEN left TRUMP a mess, that’s why he was ellected again. It takes time to unravel all the democrat cover ups, time is on TRUMPS side, Rome wasn’t built in a day, there’s no majic button to press. When the dust settles in a few months, TRUMP will come out of this smelling like a rose. Fed chair Powell, is sabatoging TRUMPS plans. No other country has interest rates like the USA! When the interest rates go down, housing will boom. These builders keep building….They keep buying lots…. What do they know that U don’t?
Canary says
Dennis, please explain to me how locking up immigrants and homeless people or sending a mission to the space station helps me pay my skyrocketing grocery bill? Or how it will help me stay alive when I lose the health insurance that Trump’s “big beautiful bill” is probably going to take away from me?
Laurel says
Canary: Dennis doesn’t explain, he just supports anything Trump says.
Yesterday, We witnessed a 10 ounce bag of Dunkin Doughnuts coffee at $14.50, give or take a penny, at our Publix, here in the Hammock. Last year (or was it 2023?) we bought two 10 ounce bags for $7.99, on sale at Target.
Trump’ll fix it.
Nope. He’s just mad at Brazil for not appreciating a fascist leader he admires.
Thanks loads, Republicans. We can’t grow coffee in the U.S., so how does a tariff help us? Are we going to try to bring coffee farms here? Brilliant.
Trump is not your retribution, you are his.