Dear Fellow Floridians:
As we reflect on 2013 and consider the potential for 2014, it is clear that
Florida is at a turning point. Today, people across the country are more optimistic
about Florida and its prospects. Last year, job growth in Florida exceeded
expectations while the state’s unemployment rate, now at a 6-year low, was one
of only a few in the country to rapidly decline. Our housing market has improved
and the population growth Florida is well known for has begun to return. Perhaps
our most exciting prospect is the renewed growth and intensity of Florida
businesses, startups and industries over the past year, which has characterized
Florida’s strong economic performance and helped label us as ‘ahead of the pack’
It is through a reflection on the past that we are able to design and
construct a lens from which to look out into the possibilities and opportunities
for this year and beyond. It is in this spirit that I invite you to explore this
special New Year’s edition of
Bottom Line. Inside, you’ll find expert insight and an outlook
on Florida’s economy, finances, workforce and housing market in the year ahead.
As we begin to write the next chapter of Florida’s future, we must continue
to recognize that it is the collective ingenuity, perseverance and leadership of
Floridians that lays the foundation for our economic future, shaping the
advancement and prosperity of our great state. It is my hope that this edition
Bottom Line will challenge you to look out at the
opportunities ahead of us and equip you with the resources to do so throughout
the New Year.
To read the latest edition of Florida’s Bottom Line,
Chief Financial Officer
State of Florida
Florida Economic Briefs
Florida’s unemployment rate falls to 6.2 percent
Florida’s unemployment rate continued to drop to near its 6-year low, dropping
to 6.2 percent in December, down 1.7 percentage points from a year ago.
Florida’s unemployment rate was 0.5 percentage point lower than the U.S. rate
and was below the national rate for the ninth consecutive month. Over the year,
192,900 (+2.6 percent) jobs have been added in the state.
Source: Bureau of Labor Statistics
Florida’s consumer sentiment rises on expectations of improvement in
national economic conditions
Floridians were more optimistic about the economy this month, with consumer
confidence rising one point in January. The increase is a due to more Florida
consumers feeling confident about improvements in economic conditions over the
next five years.
Source: Bureau of Economic and Business Research