The Legislature’s revenue estimating economists today announced a shortfall of about $1 billion for the coming year and $1.5 billion the following year. Rick Scott continues to rule out tax increases.
florida economy
Incomes at Their Worst Since 1996, Poverty At a 52-Year High, Inequality Deepening
Florida’s poverty rate rose to the highest level in 16 years, with 3 million residents—one in six—living under the poverty line in 2010. Nationally, most economic and health insurance indicators are worsening to historic levels.
Dim Futures: Florida’s Student-Loan Default Rate Rises to 10 Highest in the Nation
Students are defaulting on loans at higher rates, especially in Florida, because of a lousy job market, higher interest rates, and a rise in for-profit colleges that typically charge more than public colleges.
Pointing to Recession, Floridians’ Consumer Confidence Crashes Again to Near-Record Low
The dramatic decline in consumer confidence is just three points shy of 59, the mark set in June 2008, when the nation was in the midst of the Great Recession. Figures released by the University of Florida’s Bureau of Economic and Business Research.
UF Survey: Political Acrimony and Economic Ills Hurt Real Estate’s Outlook in Florida
The University of Florida’s quarterly Survey of Emerging Market Conditions concludes that economic and political worries are holding back spending, except by foreigners. Tourism is the state’s strongest bright sport.
Fact Check: The Economy By the Numbers
A sobering look at the real economy’s numbers broken down in easy-to-chew bullet points, from national to local numbers. Spam can not included.
Less Dire Than Feared: Economy Adds 117,000 Jobs, Unemployment Falls to 9.1%
Defying expectations, the national economy added 117,000 jobs in July. Figures for May and June were revised upward to add 56,000 jobs to those two months’ totals, and the overall unemployment rate fell back to 9.1 percent, from 9.2.
Gov. Rick Scott on Impending Federal Government Shutdown: What, Me, Worry?
Rick Scott is unconcerned about the federal shut-down, saying its impact on Florida will be “minimal.” Much of the evidence says otherwise as millions of Floridians’ including Social Security and food stamps recipients, may be affected.
They Feel Your Pain: Florida Legislature Home to 51 Millionaires
Millionaires make up almost half of the 40-member Florida Senate and nearly one-third of the 120-member Florida House. Legislators are paid $29,697 a year, with presiding officers making $41,181 a year.
Unemployment Rises Again, to 9.2%, as Job Creation Disappears and Recession Looms
More bad news for the Obama administration as job creation in June fell to a statistically insignificant 18,000 and the unemployment rate rose again, raising fears of another recession ahead.