Bad News for Unemployment in Florida
February 25, 2011 Leave a comment
If you think that unemployment is going to improve soon in Florida, you are wrong.
If you think that the South Florida economy is going to grow enough, you are wrong.
If you think that the Miami-Dade economy will improve greatly, you are wrong.
If you think that local governments will be able to return to happy go lucky spending and taxing, you are wrong.
Adding to this perspective is Governor Scott’s push to gut government regulation in Florida and undermine social spending for medicaid, education, the environment, child protection and growth management, poses huge demands on local county and municipal governments in South Florida.
The future is not bright for this region, especially if the world economy gets an oil shock, slowing or depressing regional trade.
…economic growth must be stronger to make a noticeable dent in unemployment, which was 9 percent last month. The economy would need to grow 5 percent for a whole year to significantly bring down the unemployment rate. Economic growth of just 3 percent a year would hold the unemployment steady and keep up with population growth.
Looking ahead the economy is expected to grow by 3.2 percent this year, according to an AP Economy Survey.
About Stephen E. McGaughey
Coral Gables Watch 