economy

In a new book, The Complacent Class, economist Tyler Cowen argues that the United States is standing still.

People have grown more risk averse and are reluctant to switch jobs or move to another state, he says, and the desire to innovate — to grow and change — has gone away.

In an interview with NPR's Rachel Martin, Cowen says he's worried that more and more communities are self-segregating — by income, education or race.

Amanda Rabines / WLRN News

Over the past year, Florida has been second only to California in the number of new jobs created with just over a quarter of a million new jobs. But California’s labor market is twice the size of Florida’s. The rate of growth of Florida's job market also ranked second in the nation at 3.1 percent. (Oregon was No. 1.)

 

The Senate voted to confirm Steven Mnuchin as President Trump's Treasury secretary in a 53-47 vote Monday.

Mnuchin's approval came over the objections of some Democratic senators who pointed to Mnuchin's business record running a bank that hastily foreclosed on homeowners. It also drew fire from those who say that with the appointment of Mnuchin and other former bankers to key roles close to the White House, the administration is going back on its promise to get tough on Wall Street.

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Jorge Duenes/Reuters

Here’s the central question: Is renegotiating NAFTA, the North American Free Trade Agreement, an opportunity or a mistake? Simple question, tricky answer.

“If you take the view that this is just updating the agreement, then I think it can be a good thing for all three countries,” says economist Marc Melitz with Harvard University.

Katie Lepri / WLRN News

This week on The Florida Roundup...

Miami-Dade County Major Carlos Gimenez's decision to comply with President Trump's immigration detention order has sparked protests and calls to put it to a County Commission vote. We speak with Esteban Bovo, Chairman of the County Commission, about that impending meeting. 

Listen here: 

Ford and General Motors both reacted Tuesday to President-elect Donald Trump's continued criticism of U.S. companies manufacturing products in Mexico.

Ford announced it would cancel its $1.6 billion plans to build a plant in San Luis Potosi, Mexico, and instead invest an additional $700 million to expand an existing plant in Michigan to make autonomous and electric vehicles. That comes on the heels of another decision in November to keep production of some small SUVs at its plant in Kentucky.

AP

Cuba’s communist leadership remains reluctant to open the island to more free market reforms and foreign investment. But Cuba’s latest economic data for 2016 might make those hardliners reconsider.

Just a few months ago, Cuba’s economy was forecast to grow 1 percent this year. It wasn’t much; but at least it was growth. This week, President Raúl Castro has admitted even that was an illusion: Cuba’s GDP, he said, will actually shrink 1 percent in 2016 - the first economic contraction in more than 20 years.

Floridians are enthusiastic about the economy and their personal budgets. That’s according to a survey by the University of Florida. Consumer confidence among Floridians surged up 6.9 points this month to 97.2, according to a news release. The high mark shows people in the state are as hopeful about the future as they were before the Great Recession and housing crisis in 2008.

President-elect Donald Trump says he will double the nation's growth rate during his time in office. That promise will be difficult to keep.

Trump isn't talking about a temporary boost in growth. He says he can make the economy grow in the long term at a rate of about 4 percent a year.

President-elect Donald Trump met Wednesday afternoon with a who's-who of the tech industry. They came from Silicon Valley and elsewhere to Trump Tower in Manhattan, where they talked about jobs and innovation.

Creative Commons

  A new study has found that even while wage increases for women in Miami-Dade outpaced men, women still make less in the workplace.

Unemployment dropped by 0.3 percentage points, to 4.6 percent, last month — the lowest rate since 2007 — according to the monthly jobs report from the Bureau of Labor Statistics.

Overall spending is expected to increase this Holiday Season.  The Florida Retail Federation is expecting a 4 percent bump in state spending over last year. But Federation President Randy Miller says per person spending is expected to decrease slightly. He says shoppers are expected to spend about $935 per person this season.

Tom Hudson

Through all the tawdry talk, accusations and innuendo during this election American voters have been consistent in saying the economy is their big issue.

 

The Federal Reserve Bank of Atlanta, which includes South Florida in its territory, quizzed 200 companies throughout the region. One out of three of them said the election was having an effect on their business decisions such as investing in their companies or hiring new workers.

 

athrasher/flickr

Floridians are anxious. Even after several years of job growth, most are worried about the economy. Two out of three Floridians say they are financially stressed. For those with a child at home, or living in South Florida, odds are even higher.

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