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Florida Economy Recovering But Problems Remain

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(photo: Thinkstock)

(photo: Thinkstock)

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TALLAHASSEE, Fla. (AP) — Florida’s economy is showing signs of continued recovery, but a new analysis prepared by state economists also points to some problems.

State economists on Monday released a 29-page snapshot looking at everything from wages to housing prices and unemployment.

The good news: Florida was ranked 13th in 2013 in personal income growth. Growth rates also are returning to more typical levels.

But the report by the Office of Economic and Demographic Research also found that Florida’s average wage is dropping further behind the average wage in the United States.

The report also notes the drop in Florida’s unemployment rate has been helped by people dropping out of the labor force. The state’s real unemployment rate would be 6.9 percent if participation had held steady since December 2011.

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Click here to read the full report.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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