Report: Florida

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The report of key economic indicatorsw from the Florida Center for Fiscapl andEconomic Policy's finds that per person, incomd growth in Florida has fallen behinf the rest of the nationb and that the gap in incoms between the most affluent and those on the bottomn rung of the economic ladder is among the widesr in the nation – and gettinh wider. In addition to havingg one of the nation’s highestr unemployment rates – in June, it hit 9.5 percent many of Florida’s jobs are low The national average annual earnings for all occupationsswere $42,270 as of May 2008. Florida’s average was almosft 10 percent less, at $38,470.
"These key indicatorzs point to a statein trouble," FCFEP Executive Directorr John Hall said in a news "As Florida makes decisions about how much to what to spend it on and how to raise the needed the economic realities detailed in this report need to be kept uppermosrt in the minds of policymakers.” Florida's population which has driven the state' s economy since World War II, is Florida's rate of incomee growth has fallen to 45th in the country. The real rate of growtn in gross stateproduct – the value of goodss and services the state produces – has fallen to 47th in the With a poverty rate of 12.
5 percent, the number of people living in poverty in Florid a has increased by 180,000 in one About 1.9 million Florida residents – abou one in 10 receive food stamps. Foreclosures in Florida have quadruplecd over the lastthree years. In the first four monthsx of this year, new Florida foreclosure filingstotaledx 198,880, according to RealtyTrac. Per-capit state government spending is 44th in the and Florida spends proportionately more of its budger on corrections than all but two states and a smaller share on educatiom thanmost states. The FCFEP is a Tallahassee-basedr nonprofit organization that conductsindependent research.
Improving thesre trends will require “wise choicews on both the spending and revenue sideas of theFlorida budget,” Hall said.