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ORDINANCE NO. 87- 19 Indian River County State of Florida Month 1984 1985 1984 1985 January 9.2% 8.1% 7.40 6.5% February 7.4 7.0 6.1 5.8 March 6.1 6.8 5.4 5.9 April 6.4 8.0 5.7 6.1 May 8.6 8.1 6.1 4.9 June 11.5 12.3 6.6 6.9 July 12.7 13.0 6.8 7.0 August 11.7 11.6 6.2 5.8 September 11.7 12.3 6.2 6.5 October 11.7 7.5 7.0 5.3 November 9.1 7.3 6.2 5.5 December 8.2 6.6 6.1 5.6 Average 9.6% 9.1% 6.3% 6.0% SOURCE: Florida Department of Labor and Employment Security Bureau of Labor Market Information Local Area Unemployment Statistics, Monthly CPS, 1985 Service and trade occupations, wholesale and retail trades, and agriculture account for most of the employment in the County. According to the University of Florida Bureau of Economic and Business Research, the fastest growing sector of the economy, in terms of employment, is the service sector. The 9% per year growth in service sector employment can be attributed to the fact that a large number of fairly affluent older citizens are moving into the County. These types of residents generally require a greater amount of services than younger, working residents. Table 2 illustrates the breakdown in employment by sector for Indian River County. Although agriculture is one of the primary employment sectors in the County, agriculture provides the second lowest per capita income. Historically, manufacturing has provided the highest per capita income in Indian River County, but due to a shift in the economy towards an increasing service sector, the per capita income from service and trade occupations has increased. Table 3 outlines income and earning by major industrial source in Indian River County. Although the County's economy is becoming more service-oriented, the manufacturing sector provided the highest per capita income prior to 1979 and remains very important to Indian River County's economy. However, most of the people working in the manufacturing sector are employed by one form, Piper Aircraft. Due to the dominance of one industry in the manufacturing sector, the County's entire economy may be affected. The dominance of one firm in the County's manufacturing sector is clearly shown in Table 4 below.