Economy

Commercial Connection: SW Florida must pull together on the basics

The Great Recession of 2008 is officially over, according to a panel of economists from the National Bureau of Economic Research, a widely accepted arbiter of business cycles. In fact, the recession reached its "trough" (end of the decline and the subsequent beginning of the rise) in June 2009.

History and economic patterns remind us that immediately following a trough, declining periods are categorized as expansion periods in which markets level, stabilize, prepare for growth, and no doubt, create opportunity.

Students add to local income gap

College kids are making the city look bad.

According to statistics released this week by the U.S. Census Bureau, Gainesville's income gap was the fifth-largest in the nation from 2005 to 2009. Atlanta tops the list, followed by New Orleans; Washington, D.C.; and Miami. The city with the lowest income gap is West Jordan, Utah.

Gainesville's income gap is nation's fifth-widest

The city of Gainesville had the fifth-widest income gap in the country from 2005-09, a United States Census Bureau American Community Survey report released this month says.

David Denslow, a research economist at the University of Florida Bureau of Economic and Business Research, attributed the high level of income inequality to two factors — a relatively small city with a large university and medical complex, and the poverty rate and lack of jobs in east Gainesville.

Wealth gap in South Florida second-widest in US

South Florida is behind only New York in having the widest gap between rich and poor, according to a new Census analysis of major U.S. metropolitan areas.

UF report: Florida’s Consumer Sentiment falls in October

GAINESVILLE, Fla. — After a modest gain in September, Consumer Sentiment among Floridians fell a point in October to 63, four points above the record low of 59 set in June 2008, according to a new University of Florida study.

The index used by UF researchers is benchmarked to 1966, so a value of 100 represents the same level of confidence for that year. The lowest index possible is a 2; the highest is 150.

Subsets of CPI produce difference inflation numbers

Something’s rotten in the state of-er Florida.

A public hearing is slated for 6 p.m. Tuesday on plans by the Florida Department of Transportation to raise tolls at all state toll roads and bridges, including Florida’s Turnpike, about 11.7 percent by next June 30.

Under the plan, the cost of a car ride on Florida’s Turnpike from West Palm Beach to Miami’s Golden Glades Interchange, for example, would rise to $4.60 from $3.80. SunPass holders pay $1 less. Reason cited for the toll hike: Inflation, as measured by the Consumer Price Index.

UF study finds modest rise in Florida’s Consumer Sentiment

GAINESVILLE, Fla. — Florida’s Consumer Sentiment Index rose this month to 64, up three points from a revised mark of 61 in August, which was only two points higher than the record low of 59 set in June 2008, according to a new University of Florida survey.

“The increase in confidence this month was mostly a rebound from very low levels in August,” said Chris McCarty, director of UF’s Bureau of Economic and Business Research and Survey Research Center, which conducted the survey.

Harsh recession brings painfully slow rebound for South Florida

Nearly four years after the start of a devastating recession, South Florida’s recovery barely musters a passing grade.

The hiring landscape can boast of only anemic job growth, but unemployment remains near record highs. Real estate prices are bumping along a bottom. Spending hasn’t kept pace with price increases. Only South Florida’s tourism and cargo industries can boast sustained growth.

Retiring Baby Boomers give Florida a cold shoulder

Oct 7 (Reuters) - Florida just isn't what it used to be for retirees.

Meet Patti Keagy, an American Baby Boomer, who is looking at other possible retirement destinations.

"My mother says her generation and other people that she knew made a mistake. They sold everything and they moved down to Florida," said Keagy, a resident of a Boston suburb.

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