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Retail, home sales, job growth have a rough month in Polk County, Fla.
Byline: Kyle Kennedy
Oct. 31--Another month, another struggle. The local economy faced difficult times in September with ongoing declines in home sales and a slowdown in job growth, according to The Ledger's monthly Polk Business Barometer.
Retail spending also took a hit in the most recent data provided by the Florida Department of Revenue.
Polk Realtors sold a total 237 existing homes last month, falling 44 percent from 426 in September 2006. It was the 16th consecutive month of annual declines.
The county's median home price also dipped slightly, falling 2 percent to $165,500, while the state's median home price sank 9 percent to $221,200.
Local permits for new home construction fared better, decreasing to 271 from 295 in September 2006. That made for a 9 percent drop, compared to 20 to 30 percent drops in previous months, but it still marked the 19th consecutive month of declines.
In the labor market, Polk posted a 4.8 percent jobless rate for September, up from 3.9 percent the year prior and down slightly from 4.9 percent in August. The county had an increase of 2,100 jobs since last year, but September's gains were the lowest in four years.
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