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• <br />Comprehensive Plan <br />Economy <br />Introductory Element <br />The local economy can greatly influence the stability and quality of life in an area. The following <br />data are presented as a description of the Indian River County economy. Indicators of the local <br />economy that are discussed include: unemployment, employment by major industrial sectors and <br />earnings in those sectors. A detailed discussion of the economy is presented in the Economic <br />Development Element. <br />Unemployment <br />Indian River County's unemployment rate is higher than the state's as a whole. In 2000, the county's <br />average annual unemployment rate exceeded the state's by 2.6 percentage points. <br />TABLE 1.25 <br />2000 UNEMPLOYMENT RATE <br />INDIAN RIVER COUNTY AND THE STATE OF FLORIDA <br />Florida <br />Indian River County <br />Source: Florida Agency For Workforce Innovation <br />Unemployment Rate <br />The county's unemployment rate is also cyclical. Generally the unemployment rate is higher during <br />the summer months. The cyclical rate is attributed to the seasonal nature of the citrus and tourism <br />sectors. <br />Employment <br />Employment by major industrial sectors is presented in Table 1.26. These data show the number of <br />persons employed and percent of total employment. From 1995 to 2000 employment increased in all <br />sectors of the economy except agriculture. In 1995 the services sector was already the sector with <br />the largest percentage of employees in the county. The trade sector, which includes wholesale and <br />retail trade, was the next largest. By 2000, the services sector remained the largest, actually <br />increasing its lead over the trade sector. Much of this growth is due to the increasing number of <br />relatively affluent residents who demand more services than the younger working population. <br />Community Development Department Indian River County <br />Supplement #_; Ordinance 2005- <br />27 <br />