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Wrong For Florida Briefing Book

- October 25, 2012

OBAMANOMICS: WRONG FOR FLORIDA

Unemployment: Since Obama Took Office, Florida Has Lost 86,500 Jobs And The Unemployment Rate Has Remained Unchanged At 8.7 Percent. (Bureau of Labor Statistics, Accessed 10/24/12)

  • Florida’s Unemployment Rate Isn’t Expected To Fall Below 7 Percent Until 2016. “Florida’s unemployment rate will probably not fall below 7 percent until 2016, and will be higher than the national unemployment rate until 2018.” (Toluse Olorunnipa, “Economists: Florida Jobless Rate To Remain Bleak,” The Miami Herald, 7/23/12)

According To The Economic Estimating Conference, Florida’s Jobs Picture Will Remain Bleak Through 2016. “Florida’s unemployment rate probably won’t change much between now and the end of the year, and the jobs picture is set to remain bleak through 2016, a team of state economists said Monday.” (Toluse Olorunnipa, “Economists: Florida Jobless Rate To Remain Bleak,” The Miami Herald, 7/23/12)

  • Florida’s Unemployment Rate Isn’t Expected To Fall Below 7 Percent Until 2016. “Florida’s unemployment rate will probably not fall below 7 percent until 2016, and will be higher than the national unemployment rate until 2018.” (Toluse Olorunnipa, “Economists: Florida Jobless Rate To Remain Bleak,” The Miami Herald, 7/23/12)
  • Florida’s Economy “Faces A Prolonged Uphill Climb.” “With a troubled real estate market and trouble brewing in Europe, the state economy faces a prolonged uphill climb, according to the Economic Estimating Conference, a group of state labor experts.” (Toluse Olorunnipa, “Economists: Florida Jobless Rate To Remain Bleak,” The Miami Herald, 7/23/12)

Unemployed: Florida Has 808,471 Unemployed Seeking Work. (Bureau of Labor Statistics, Accessed 10/24/12)

Failed Stimulus Jobs: Since The Stimulus Passed, Florida Has Lost 116,500 Construction Jobs And 28,500 Manufacturing Jobs. (Bureau of Labor Statistics, Accessed 10/24/12)

Median Household Income: Under Obama, Median Household Income In Florida Has Declined From $49,916 To $44,299. (U.S. Census Bureau, Accessed 10/24/12)

  • Florida’s Median Household Income Dropped 2.9 Percent Last Year, A Sharp Reminder Of The State’s “Deflated Economy.” “The income of the typical Florida family dropped 2.9 percent last year, one of the sharpest reminders that the Sunshine State's deflated economy remains mired in unemployment and lower-wage jobs. The decline means we will be financially challenged if we hope to spend our way out of this state's problems.” (Robert Trigaux, “Florida’s Household Income Slips, Signaling Tougher Recovery Ahead,” Tampa Bay Times, 9/21/12)
  • The “Bulk” Of New Jobs In Florida In 2011 “Paid On Average About 25 Percent Less Than The Jobs That Disappeared.” “The drop in Florida unemployment masks a troubling trend: The new jobs continue to pay far less than the ones that have been lost. The state added 114,000 jobs last year. But the bulk of them paid on average about 25 percent less than the jobs that disappeared, according to a Tampa Bay Times analysis of jobs and industry wage data.” (Jeff Harrington, “Florida Still Losing Ground In Wages Despite Uptick In Jobs,” Tampa Bay Times, 2/6/12)

Florida Will Add 2.9 Million Job Vacancies Between 2010 And 2020, Half Of Which Will Be Jobs For High School Graduates And Dropouts. “Florida is poised to become a state of mostly low-wage, low-skilled jobs, some experts say. Between 2010 and 2020, the state will add 2.9 million job vacancies from new jobs and retiring workers. Of these, almost half will be jobs for high school graduates and dropouts rather than more educated workers, according to a recent Georgetown University study.” (Marcia Heroux Pounds, “Good Jobs Are Hard To Find, Studies Say,” Sun Sentinel, 8/4/12)

  • Florida Jobs Available Tend To Be In Areas That Pay Lower Wages. “J. Antonio Villamil, economist and business dean for St. Thomas University in Miami, said there continues to be a mismatch between jobs and skills in Florida. ‘There are a lot of jobs available, but they tend to be in areas that pay relatively lower wages,’ he said.” (Marcia Heroux Pounds, “Good Jobs Are Hard To Find, Studies Say,” Sun Sentinel, 8/4/12)

National Debt: Since Obama Took Office, Each Floridians Share Of The National Debt Has Increased By $18,047 To A Total Of $52,466. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 10/24/12)

College Affordability: The Average Student Graduating From A Four-Year College Institution In Florida Has $23,054 In Debt. (Project On Student Debt, Accessed 10/24/12)

Tax Hikes: Obama’s Plan To Raise Taxes Would Cost Florida 39,400 Jobs. (Drs. Robert Carroll and Gerald Prante, “Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013,” Ernst & Young LLP, 7/12)

  • Obama’s Plan To Raise Taxes Would Cost Florida $10.1 Billion In Lost Economic Output. (Drs. Robert Carroll and Gerald Prante, “Long-Run Macroeconomic Impact Of Increasing Tax Rates On High-Income Taxpayers In 2013,” Ernst & Young LLP, 7/12)

Gas Prices: Since The Week Obama Took Office, The Average Price Per Gallon Of Gas In Florida Has Increased From $1.862 To $3.597. (“Current State Averages,” Fuel Gauge Report, 1/16/09; “Current State Averages,” Fuel Gauge Report, 10/24/12)

Food Stamps: Since Obama Took Office, The Number Of People In Florida Receiving Food Stamps Has Increased By 90 Percent. (“Supplemental Nutritional Assistance Program: Number Of Persons Participating ,” Food Research And Action Center, Accessed 8/10/12; “Supplemental Nutritional Assistance Program: Number Of Persons Participating,” USDA Food And Nutrition Service, Accessed 10/24/12)

Poverty: Under Obama, 802,648 More People In Florida Have Fallen Into Poverty. (“Poverty: 2007 And 2008,” U.S. Census Bureau, 10/11; “Poverty: 2010 And 2011,” U.S. Census Bureau, 9/12)

Childhood Poverty: 23 Percent Of Florida Children Are Living In Poverty. “In 2010, 23 percent of Florida children were living in poverty. The parents of 34 percent lacked secure employment, up from 28 percent in 2008. Nearly half of Florida households – 49 percent – saw their housing costs grow to 30 percent or more, up from 42 percent in 2005. The number of teens who were neither in school nor working was 10 percent, the same as in 2008.” (“Report Says Recession Hurts More Florida Children,” Herald-Tribune, 7/25/12)

  • The Number Of Florida Children Living In Poverty Has Increased 28 Percent From 2005 To 2010. “The number of Florida children living in poverty is up 28 percent from 2005 to 2010, the last year for which data were included in the study. That measurement considers such factors as whether the parents have secure employment or the ability to cover their housing costs.” (“Report Says Recession Hurts More Florida Children,” Herald-Tribune, 7/25/12)


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