Florida job losses fuel gloomy forecast

[UpInArms]

Source: Miami Herald

TALLAHASSEE -- The top job-loss state in the nation. Shrinking wages. Collapsing population growth. Record home foreclosures.

Florida's economy is not just firmly and bleakly in the red ---- it will likely stay that way until next June, according to the state government's top economists who issued their most pessimistic financial forecast in years.

With few exceptions, the economists' Wednesday forecast shows that most economic indicators will do worse in this budget year when compared to a forecast they issued in February.

At the heart of the problem is the falling housing market, upon which Florida's economy has a Monopoly game-like reliance. The economists projected new housing construction will fall to about 60,000 units this year -- a decrease of 78 percent from a high of nearly 283,000 in 2005.

<snip>

The most dire fact of all: Florida lost more jobs in the past 12 months -- 74,700 -- than any other state in the nation. And the economists predict that more people in construction, government, manufacturing, financial services, transportation and warehousing will be out of work soon.

<snip>

Were it not for employment gains in the health, education and the low-paying services fields, they said, the job-loss numbers would be far higher. Construction lost 77,000 jobs and manufacturing lost 23,000 in the last year. By month's end, the experts project, Florida's job-loss rate will be higher the nation's for the first time since 2002.

Read more: http://www.miamiherald.com/business/story/607296.html

[Hailtothechimp]

1. It's a good thing the economy is in such good shape.

Imagine how bad things would be without it.

Oh, wait.....

[whistle]

2. All happened under rethuglicons Gov Jeb Bush and Gov Cris

...Can the message be any clearer?

[Frisbee]

3. so vote for John McInsane...

Because your feelings are still hurt over the Democratic primary, that'll make everything better. :sarcasm:

[Imagevision]

4. And yet, this state is still for Mccain, go figure???

[pokercat999]

7. Says who? I think most of the polls are screwed this year.

From what I've seen they keep polling the same number of Rs and Ds and there are now far more Ds in America,,,,,,,I guess FL could be different and have more Rs but I doubt it. And I hope a lot of Rs are going to secretly vote D, even if their macho thing won't let them say it out loud.

[thecrow]

5. Off to the Greatest page with you!

.....even though the news is NOT great.
My son is an unemployed Floridian even as we type.

[bushmeister0]

6. Where are all those Floridians going to take their guns if not to work?

[flashl]

8. Somebody needs to tell State Farm ...

State Farm Florida Insurance Co. is seeking a 47.1 percent rate increase in homeowners insurance policies in Florida

[sarcasmo]

9. Rec number 9. I guess it isn't a one, or two state recession anymore.

That was the Republican talking point, a one or two state recession.

[seasat]

10. And that is why our idiot Governor wants to drill offshore

Crist sees this train wreck coming that is the product of his and Jebbie's policies. As true Repubs, they throw out a distracting line that will not a make a bit of difference in the long run. Crist now supports offshore drilling. Never mind the fact that drilling our coast will only make a few pennies worth of difference at the pump 10 years from now. Sure it'll provide a few jobs but the resulting environmental degradation will affect many of the 500,000 jobs in the tourist industry.

That is Repub economics in a nutshell. They do what sounds simple an looks good on paper but ignore the real difficult work of actually addressing the fundamental problem.

[JCMach1]

11. Busch Gardens in Tampa was a Theme park dead zone yesterday

:(