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Florida economy

Irma’s damage a reminder of Florida economy’s vulnerability

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Florida’s economy has long thrived on one import above all: People. Until Irma struck this month, the state was adding nearly 1,000 residents a day — 333,471 in the past year, akin to absorbing a city the size of St. Louis or Pittsburgh. Every jobseeker, retiree or new birth, along with billions spent by tourists, helped fuel Florida’s propulsive growth and economic gains. Yet Hurricane Irma’s destructive floodwaters renewed fears about how to manage the state’s population boom as the…

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State economists see tourism growth cancelling out lagging housing starts

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Nothing emerged during a numbers-crunching exercise by state economists Tuesday to change the economic picture the Legislature will confront this year — growth in tourism and slack housing starts will offset each other as overall growth produces about $31 billion in general revenues. “Those are going to compensate for each other. So, overall, you end up about where you were, on the same path where we were heading,” said Amy Baker, coordinator for the state Office of Economic and Demographic Research.…

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Report: Florida led nation in private-sector jobs growth last month

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Florida added 15,800 private sector jobs during October, more than any other state, according to the monthly ADP Regional Employment Report released Wednesday. That number represented 0.22 percent growth over September, and a nearly 11 percent share of national jobs growth. The services sector predominated, creating 13,800 non-farm jobs, compared to 2,000 in the goods-producing sector. The professional and business services category saw 3,400 new jobs; trade, transportation, and utilities, 2,500; manufacturing, 1,700; and natural resources, mining, and construction, 300.…

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Florida’s metro areas registered strong economic growth in 2015

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Florida’s cities mostly exceeded the national trend last year regarding economic growth, state officials announced Thursday. In fact, the economies in 15 of Florida’s 22 metropolitan statistical areas grew faster than the national average. Overall, the state’s real gross domestic product was $789.8 billion, up by 3.1 percent from the year before. The national economy grew at a rate of 2.4 percent. “Florida’s economy is one of the strongest in the nation, illustrated by our consistent job creation, low unemployment…

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Florida consumer confidence down for third straight month amid mixed economic news

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Florida’s consumers sentiment is trending negatively for the third straight month, according to a University of Florida survey. Consumers’ confidence in the wellbeing of the state economy dropped to 89, one point down from May’s report and tied with September 2015 for the lowest reading in the last year and a half. Overall economic news was mixed according to the survey, with three metrics decreasing and two improving. Perceptions of one’s personal financial situation now compared with a year ago showed…

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Today on Context Florida: American Transformers, Floridian president, TR’s big stick, open carry convention and dealmaking

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Today on Context Florida: There’s a new reality show in America, says Adam Goodman, generating ratings and rave reviews before an audience that had been waiting a long time for it to begin. It’s called “The New American Transformers,” but unlike the “Transformer” movies this series does not revolve around a galactic battle but something much more down to Earth. It is a story about Americans looking to transform a system that’s broken, in a country that’s lost its way, led…

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Today on Context Florida: Florida death penalty, ALICE, South Tampa politicos and Florida’s dim prospects

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Today on Context Florida: To find someone guilty of a crime — any crime — jurors have to agree unanimously. Not so to impose the death penalty, says Julie Delegal. Not here in Florida. And that’s why Florida’s death penalty sentencing procedure is in constitutional hot water. As Florida law stands now, after jurors find a defendant guilty of first-degree murder, they aren’t required to deliberate to the point of unanimity to sentence a murderer to death. They only take a…

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