Securing Florida’s Future: Job loss in the recession and job creation for a sustainable economy

The steep recession which was triggered by the bursting of Florida’s housing “bubble” also had deeper roots. For decades wage growth has not kept up with increasing productivity. Expanding consumer debt and widening income inequality occurred even during the good times. Florida needs a sustainable economy over the long term, and that will require more than restarting the housing market. Job growth must provide middle class incomes, and prosperity must be broadly shared. The current downturn is an opportunity to rethink Florida’s economic strategy and work on creating a much more diversified and vibrant economy and improving our ability to ride out future downturns. This report examines recent job loss in Florida and argues for investment in three key areas which will produce short, medium, and long term growth of middle class jobs for Florida which will put our economy on a more stable footing.

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