There are currently 1.1 million Floridians out of work, representing 12.2 percent of the state’s workforce and a just-released report from the Florida Center for Fiscal and Economic Policy, a Tallahassee-based Think Tank, paints a gloomy picture of the state’s recovery from this recession. Noting that the current economic recession is unlike previous economic downturns, the report points out that population growth in Florida which had fueled much of the state’s economic growth and jobs declined in 2009.
“The increase in population – the state’s “primary engine of economic growth, fueling both employment and income growth” – not only stopped, but Florida last year recorded its first loss in population since the end of World War II. When population growth resumes, it’s expected to be one-third to one-half the rate of the last few decades,” the report states.
The report suggests too, that if even Florida’s economy created more than 200,000 jobs annually, as it did prior to the downturn, it would take at least 3 years to restore the 900,000 jobs lost during the Great Recession and in a climate in which a disproportionate number of jobs are low-paying ones.
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