Florida Ranking on Fiscal Peril List

TALLAHASSEE, Fla. (AP) -- Florida ranks seventh on a think tank's
scorecard of "States in Fiscal Peril."

California tops the list released Wednesday by the Pew Center of
the States.

Key factors that have Florida in peril include a 2.72 percent mortgage foreclosure rate and a potential $2.6 billion gap between spending needs and revenue in the next budget year beginning July 1, 2010.

The study also cites Florida's reversal from booming growth to a population loss of 58,000 this year.

Florida also went from having one of the nation's strongest job markets to its eighth-worst unemployment rate -- 11 percent in September.

It notes Moody's Economy.com says Florida's housing market is in
worse shape than California's and will take longer to recover.

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