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Florida Economy Has Lost Ground Since 2000

By: Associated Press Email
By: Associated Press Email
(CBS/AP)

(CBS/AP)

Associated Press Release

MIAMI (AP) -- A new report says Florida's economy has been losing ground since about 2000.

Florida International University economists said in their annual Labor Day report Monday that the state's median income has fallen at a greater pace than the rest of the country and that poverty jumped nearly 50 percent between 2007 and 2011.

The researchers told the Tampa Bay Times that while the Great Recession hit the state hard, Florida's economic ills predate the crash of 2008.

Florida's unemployment hit a high of 11.4 percent in 2010. The unemployment rate has fallen to 7.1 percent, but has been stuck at that level for three months.

Census data released last week showed that Florida has the second-highest rate of uninsured residents younger than 65.


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