The Great Recession, according to economists, technically ended a few years ago. But, based on jobless numbers and poverty, South Florida has a long way to go to ever recover from the economic downturn that devastated the nation.
Americans are working harder and are producing more than at almost any time in recent history. But, the wealth gap between the richest one percent in the United States and the bottom 99 percent has grown to a point not seen since the early 20th century.
After edging up over the last couple of months, consumer confidence in Florida took an unexpected dip this month.
The U.S. economy only added 96,000 jobs in August, according to the Bureau of Labor Statistics, but those numbers were less than the more than 100,000 economists were expecting.
The 2012 general election is still in the early stages, but if the last 48 hours are indication; the election promises to be an especially brutal partisan fight between President Barack Obama and Republican challenger Mitt Romney.
For South Florida, whose life-blood is the tourism industry, the dramatic rise in gas prices could spell big problems for the local economy.
Florida Governor Rick Scott’s budget has been based on a pro-business, anti-tax platform. But, going too far in that direction carries as much risk as having too much government intervention.
The latest economic indexes show 2011 is already looking much better than the start of 2010 with improvements in consumer spending, manufacturing and continued gains on Wall Street.