Florida Will Lead Emergence From Great Recession

News that the economy was growing at a surprisingly robust pace when some were still questioning the basic strengths of a recovery has economists who closely track Florida convinced that the state will lead the emergence from the Great Recession.

More encouraging state and local unemployment figures — and a growing national itch for retirees to again move to the Sunshine State in large numbers — seem to support their contention.

On Friday, the federal government revealed a revised national economic growth rate for the third quarter of 4.1 percent, the strongest in nearly two years.

That came as state government reported that the jobless rate in Manatee, Sarasota and Charlotte counties eased again in November, dropping to 6.2 percent. That marked the lowest reading since the start of the deep economic downturn.

Meanwhile, a strong stock market and recovering home prices in the North provide ideal elements for a rebound: in-migration leading to gains in housing and commercial construction, and a spinoff effect for professionals selling everything from insurance to furniture.

Source: Sarasota Herald-Tribune (December 20, 2013)