Lots of Structural Unemployment, Especially in Coral Gables and South Florida

I was interested in the comments in an interview on CNBC of the President of the Federal Reserve Bank of St. Louis, James Bullard, who talked about structural unemployment in the construction sector.  This is very relevant to Coral Gables and South Florida.  What he says is that there are lot of workers who have been in the construction sector, that this sector will not likely come back, and that these people need to be retrained, to be literally moved to other types of employment.  They will not be able to get back to construction work.

Who in the State of Florida is doing anything about retraining these surplus workers and getting the local economy on another footing with new and more dynamic sectors.

I don’t hear anyone in the City of Coral Gables talking about this problem and how Coral Gables might promote new, dynamic sectors (or what is called today “clusters”–synergistic groupings of complementary businesses).

About Stephen E. McGaughey
Resident of the City of Coral Gables

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