economy

As more Floridians are vaccinated and the economy returns to normal, a University of Florida survey finds that Florida residents are feeling more confident in their personal finances than they were just a month ago. 

Closed sign
Liz Ferla via Flickr

The Northeast Florida Regional Council says the area ended 2020 with a GDP that was 3.4% lower than 2019’s. The region lost more than 40,000 jobs during the pandemic. But with more residents of the First Coast receiving their coronavirus vaccines, the economy is expected to start returning to normal. 

Masked woman outside of an unemployment office with a "now hiring" sign.
Lynne Sladky / Associated Press

Newly released data shows that 69,140 Floridians filed initial unemployment claims during the last week of January, more than 12 times as many as the same time last year. 

The data, released weekly by the Federal Reserve Bank of St. Louis, is a reminder that although the economy is recovering from the worst of the coronavirus recession, many Florida residents continue to struggle. 

A Jacksonville homeless encampment on Jefferson St. is pictured.
Sydney Boles / WJCT News

Residents of a Downtown Jacksonville homeless encampment continue to worry about the future of their makeshift community after a report that the city may ask them to move. 

Chamber of Commerce Unveils 2021 Legislative Agenda
Chamber of Commerce

The Florida Chamber of Commerce announced Tuesday that preventing frivolous lawsuits related to COVID-19 is at the top of its priority list as the state’s 2021 legislative session approaches. Also high on the list: investing in Florida tourism promotion and bolstering the state’s infrastructure to meet the needs of a growing population. 

Photo of a now hiring sign
Lynne Sladky / Associated Press

The Jacksonville area’s unemployment rate was 4.8% last month, down from a pandemic high of over 11% last April. 

Data from the Census Bureau paint a grim picture of the pandemic’s impact on the economy. According to the bureau’s Household Pulse Survey, 26% of Floridians reported being late on rent, worse than the US average, while 12% reported not having enough to eat.

Economic analyst Dr. Hank Fishkind, of Fishkind Litigation Services, tells WMFE the pandemic is affecting some people far worse than others.

Gold LEED plaque at the Hillsboro Civic Center.
M.O. Stevens / Wikimedia Commons

A new report shows energy efficiency jobs were growing locally and nationwide when the coronavirus pandemic hit, before declining during the ensuing economic crisis, but the industry is struggling to recover as quickly as the rest of the economy.

HOBNOB Facebook

Florida continued to add jobs in December. That’s according to Friday’s numbers from state Department of Economic Opportunity.

In Jacksonville, businesses like restaurants and hotels saw the biggest boost.


 The economy and jobs are so strong as 2016 begins that the Federal Reserve recently raised interest rates for the first time in nearly a decade. However, paychecks and the stock market are still flat. We discuss what could be expected from economy in the new year with economists Andres Gallo, of the University of North Florida, and Dr. Hassan Pordeli, of Jacksonville University.


Business Brief: Interest Rate Hike Good For Business

Dec 21, 2015
$100 bills
Frankie Leon via Flickr

The Fed raised interest rates last week after six years of historically low rates.

In this week’s Business Brief, WJCT Business Analyst John Burr tells News Director Jessica Palombo what that means for people on the First Coast. 

Jacksonville Jaguars

Sunday was the first home game of the Jacksonville Jaguars’ regular season. The Jacksonville Chamber of Commerce celebrated the return of football with a pep rally last week.

But what effect the team has on business in the River City remains murky.

In this "Business Brief," analyst John Burr explains the team’s economic impact to WJCT News Director Jessica Palombo.

Dollar bill heart
Thomas Hawk via Flickr

Job seekers and business owners should both be breathing sighs of relief these days, with the economy in the best shape in five years. That’s according to  Jacksonville Business Journal Editor John Burr. 

In this week’s Business Brief, Burr shares the rosy outlook with WJCT News Director Jessica Palombo.

Patrick Donges / WJCT

Jacksonville Mayor Alvin Brown has unveiled his proposed budget for the next fiscal year —one he says will help the Jacksonville Sheriff's Office hire more officers, redevelop the Jacksonville Landing and beef up the city’s library system.

Florida Ranks 8th-worst for Income Inequality

Jun 16, 2014

Florida has the country’s eighth-highest rate of income inequality. New analysis from Pew Trusts’ news service, Stateline, shows only six states and the District of Colombia are worse. Most Central Florida counties are near the U.S. average, but Orange County is in the top 20th percentile for inequity.

Bloomberg TV's Yang Yang reports on how The Wizarding World of Harry Potter theme park at Universal Orlando Resort has boosted the economy and job market of Florida and the state.

Rhema Thompson / WJCT

Just off Beach Boulevard, east of Kernan Boulevard, a row of shiny, new Mediterranean-style homes teem with dozens of potential residents.

One Spark / Facebook

Tourism is big business on the First Coast according to the results of an economic impact study sponsored by Jacksonville’s destination marketing group.

City of Jacksonville

Mayor Alvin Brown has named a group of high-profile business leaders—and one strong environmental voice—to the new task force looking at a proposed deep dredge of the St. Johns River channel.

The Mathews Bridge, food trucks, and public funding for sports stadiums are in the headlines today.

Duval County Public Schools, Michael Dunn, and Rep. Trey Radel are in the headlines today.

CNTV

Local author Chris Berman’s recent novel Red Moon was intended as fiction, but his prediction of an unmanned Chinese moon mission came to pass at the end of last year.

U.S. Coast Guard / Wikimedia Commons

In a departure from past responses to violations of the Clean Water Act, Congress is looking to disperse fines from BP in a way that will benefit the economies most affected by the spill.

Rick Scott, Steve Wallace, and the FSU Seminoles are in the headlines today.

Only a relatively low 130,000 jobs were added to private employers' payrolls in October and the labor market in September was even weaker than first thought, according to the latest data from the ADP National Employment Report.

JPMorgan Chase announced that it reached a $5.1 billion settlement with the Federal Housing Finance Agency, which is a conservator for the mortgage giants Freddie Mac and Fannie Mae.

The Wall Street Journal explains:

After Budget Fight, No Sign Of Cease-Fire

Oct 19, 2013

As it dragged on in recent weeks, the debate about the budget, the debt ceiling and Obamacare felt like an epic battle.

But now that it's over, there's reason to think it was actually only another skirmish during the long period of partisan warfare Americans have become accustomed to.

Alan Greenspan served as chairman of the Federal Reserve from 1987 to 2006, the second-longest tenure as chairman in the Fed's history.
Courtesy of Alan

Scott makes teacher raises a top priority, United Way gets big donations from local business, and official updates on the Mathews Bridge are in the headlines today.

Update at 10:18 p.m.: House Approves Bill:

The crisis is over. With about two hours before the country reached the debt ceiling, the House has approved the bill and it is now it's way to the White House. We've posted separately on that development and we are putting this live blog to bed.

Our Original Post Continues:

Pages