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Report: Florida’s Economy Faces Slow Recovery
March 18, 2012
Pointing to factors such as unemployment and relatively flat population growth, a new state report cautions that it will take time for Florida’s economy to bounce back.
“The job market will take a long time to recover — about 780,200 jobs have been lost since the most recent peak,” said the report, posted online this week by the Legislature’s Office of Economic & Demographic Research. “Rehiring, while necessary, will not be enough.”
The report indicates Florida trails much of the country in economic growth, personal-income growth and unemployment. It also says population growth — a major driver of the Florida economy — will average 0.85 percent between 2011 and 2014.
The report describes sales of existing homes as “sputtering” and says prices of those homes are flat.
“Florida (economic) growth rates are slowly returning to more typical levels,” the report said. “But drags are more persistent than past events, and it will take several years to climb completely out of the hole left by the recession.”
By The News Service Florida
Comments
3 Responses to “Report: Florida’s Economy Faces Slow Recovery”
If Florida is going to continue to rely on tourism as the backbone of our economic welfare then let us go hole hog and allow gambling. Tourist gamble regardless of the weather and economic down turns. There just is not enough clean mfg to go around…..
@jane do you use Walmart?
That please is one of the major causes of mom and pop failure. Now we
are almost forced to go there if we even want some products no matter what
we are willing to pay for a product so that we can shop American.
That is only one of the Major store that have eaten their fair share of mom
and pop’s, I could name many.
I agree with you that we need to stop depending on tourism, we haven’t
been that beautiful for a long time.
I think it is past time for Florida to stop depending on tourism to drive the economy. We need small businesses, and technology industries to drive the economy.