By Rachel Morello & Jim Turner & News Service of Florida
The outlook was largely positive as Governor Rick Scott, government officials and business leaders gathered in Coral Gables to discuss progress in boosting Florida’s economy.
The Oct. 31 gathering coincided with a board meeting of Enterprise Florida, the state’s public-private economic development agency.
Gov. Scott opened the discussion by praising both the public and private sectors for contributing to recent signs of economic recovery. He cited an increased focus on education and the addition of 365,000 private sector jobs since he took office.
Florida’s Senate Gaming Committee held its first public workshop recently to hear local perspectives about the future of gambling in the state as well as the potential social and economic impact expanded gaming would have on South Florida.
Early last year, state lawmakers shot down a bill to allow major casinos in South Florida. But now they’re reconsidering that decision, and possibly changing other state laws on gambling --- and that has plenty of people concerned.
Originally published on Fri November 1, 2013 3:19 pm
In an alley in Northeast Washington, D.C., hundreds of pounds of produce are piled haphazardly on pallets. Mexican Fruits, a discount grocer, can't sell the fruit and vegetables inside these boxes because the food has gone soft or is lightly bruised. Some will be donated, but most boxes are destined for a large, green Dumpster nearby.
Florida's food programs are bracing for cuts to the Supplemental Nutrition Assistance Program (SNAP) that kick in Nov. 1 --- while watching warily as U.S. House and Senate conferees prepare to negotiate a federal farm bill, which could have much more far-reaching consequences for hungry Floridians.
Last year I spoke by phone with a frustrated woman in Santiago, Cuba, who was trying to start a seamstress business. It’s the sort of small private enterprise that Cuban leader Raúl Castro claims to be encouraging as part of free-market reforms meant to salvage the island’s threadbare, communist economy. (But don’t dare say Raúl is copying China’s communist-capitalist system. That makes him mad.)
Originally published on Tue October 22, 2013 4:09 pm
Cuba will end the two-currency system it has used for nearly 20 years. Since the collapse of the Soviet Union, Cuba has used either American currency or a peso that's pegged to the dollar alongside its national peso.
The monetary unification will phase out a system that has become a symbol of exclusivity and foreign wealth. Many products that are imported into the country can be bought only with the dollar-based convertible peso. But most Cubans are paid in the standard peso, which is worth just a fraction of the other currency.
Originally published on Tue October 22, 2013 3:49 pm
When it finally came out Tuesday, the September jobs report — delayed for 18 days by the government shutdown — showed a labor market moving forward. But the pace was slow enough to prompt many economists to view it as a letdown.
Job growth "is disappointing, given that employment is still down by about 1.8 million from its peak prior to the recession," Gus Faucher, senior economist with PNC Financial Services Group, said in his analysis.
Broward County and Palm Beach’s unemployment rates are dropping faster than it is in any other major metropolitan area, according to a new federal report.
For August, the most recent month with updated federal data, the Fort Lauderdale metropolitan area saw unemployment plunge to 5.8 percent from 7.7 percent a year before. according to data released Monday. Palm Beach also saw a drop of nearly two percentage points (from 9.7 percent to 8.4 percent), ending Seattle’s six-month run atop the list produced each month by the Bureau of Labor Statistics.
Port Canaveral, Port Everglades and the Port of Tampa are in line to receive $35 million next year to expand their facilities through a state program for strategic port investments.
As part of an effort to position the state's 15 seaports as a single global shipping hub, Gov. Rick Scott announced Wednesday he will recommend that the Legislature allocate the money to the projects. The announcement came during an appearance at the American Association of PortAuthorities convention in Orlando.
Originally published on Thu October 17, 2013 12:32 am
Bringing to an end an episode that once again exposed Washington gridlock at its worst, the House approved a Senate deal that will end a 16-day federal government shutdown and avert the first government default in U.S. history.
The 285-144 vote came at the eleventh hour, after weeks of partisan bickering and a very public airing of deep divisions within the Republican party. President Obama signed the bill into law after midnight Thursday.
The debate in Congress over raising the debt ceiling was focused on the $16.7 trillion borrowing limit. That's a huge number that has been increasing rapidly since the Great Recession. The chart above from the U.S. Federal Reserve shows the federally reported public debt jumping from $6 trillion after the 2001 recession to almost $17 trillion this fall.
Originally published on Sun October 20, 2013 8:31 am
Forty years ago this week, the U.S. was hit by an oil shock that reverberates until this day.
Arab oil producers cut off exports to the U.S. to protest American military support for Israel in its 1973 war with Egypt and Syria. This brought soaring gas prices and long lines at filling stations, and it contributed to a major economic downturn in the U.S.
The embargo made the U.S. feel heavily dependent on Middle Eastern oil, which in turn led the U.S. to focus on instability in that region, which has since included multiple wars and other U.S. military interventions.