Monday, May 21, 2018

Florida's economy lags

THE WEEK THAT WAS

WINNER: Owners of older homes in Tampa Bay

U.S. House votes to undo provisions of law that meant higher flood insurance bills for homeowners who had enjoyed subsidized rates.

LOSER: RadioShack, Staples

Plunging sales, changing retail climate lead RadioShack to announce it will close 1,100 stores; Staples will shutter 225.

Six years after the recession began, the United States has yet to return to where it was by any of three measures of economic activity: jobs, highway miles driven or house prices. But there is a wide gap in the performance of individual states. At the top of all three measurements is North Dakota, a small state transformed by the shale oil boom. Employment has soared by more than 25 percent, pushing up housing prices by almost a third. And the number of miles driven on the state's highways is up by about a fifth. At the bottom of the list, which is based on combining all three indicators for each state, is Florida. It is among the bottom 10 in each category. Nevada is at the bottom in terms of jobs and home prices, but oddly, the increase in driving has been greater there than in any state other than North Dakota. — Floyd Norris, New York Times

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