[kidyankee764]

Originally Posted by kyle19125

Simultaneously....

Ranked 43rd for Average Household Income
https://www.statista.com/statistics/...ates-by-state/

States with most cost-burdened renters (Florida #5)
https://www.jchs.harvard.edu/son-2019-cost-burdens-map

States with most healthcare uninsured (Florida #4)
https://advisorsmith.com/data/the-mo...alth-coverage/

Or, we can just admit that having one of the lowest unemployment rates in the country (and the metro with THE lowest) is a phenomenal thing.

Look up other states with cost burdened renters. You’ll find their unemployment rates to be stratospheric.

[Ghaati]

Originally Posted by kidyankee764

Or, we can just admit that having one of the lowest unemployment rates in the country (and the metro with THE lowest) is a phenomenal thing.

Look up other states with cost burdened renters. You’ll find their unemployment rates to be stratospheric.

The two aren't mutually exclusive. We have cost-burdened renters here, even with our low unemployment rate. Over 13% of our population lives in poverty.

Those who are able to collect unemployment, can only get a maximum of $275 per week. So if they had a cushy job earning over $1000 a week, living well, living within their means, paying their bills, and suddenly their company closes, the store gets flooded out, their department is shut down, their spouse dies and they have to stay home to take care of the children - anything like that - they'll run through their savings pretty quick when they only can get $275 a week for no more than 3 months total. After that they get nothing. But at that point they probably still have too many assets to qualify for medicaid, or SNAP benefits. If they get a minimum wage job, that's $11/hour. Those jobs generally don't come with any benefits at all and are typically part time.

Most of the available jobs are low-paying part-time with few or no benefits.

The unemployment rate tells only a sliver of the picture. It doesn't consider quality of life, or how many jobs people have to work, in order to afford the basics: food, housing, utilities, and transportation. God forbid a single mom has to afford all that, plus day-care for her children, and clothing for them, diapers - yeah being "employed" doesn't mean diddly, if you're working two jobs just to pay the bills and spend the rest of the time too exhausted to take care of yourself.

[MKTwet]

From my time spent in FL, the type of jobs there are primarily caters to construction. If I ran a handwork company I would do pretty well in FL. The financial sector is booming but not paying as well as other big cities but the cost of living has exceeded many cities imo. Unless you make $1k/week don’t bother moving to FL. Avg rents have soared to over 1500 for 2 bedroom. And no mass transit.

[kidyankee764]

Originally Posted by Ghaati

The two aren't mutually exclusive. We have cost-burdened renters here, even with our low unemployment rate. Over 13% of our population lives in poverty.

Those who are able to collect unemployment, can only get a maximum of $275 per week. So if they had a cushy job earning over $1000 a week, living well, living within their means, paying their bills, and suddenly their company closes, the store gets flooded out, their department is shut down, their spouse dies and they have to stay home to take care of the children - anything like that - they'll run through their savings pretty quick when they only can get $275 a week for no more than 3 months total. After that they get nothing. But at that point they probably still have too many assets to qualify for medicaid, or SNAP benefits. If they get a minimum wage job, that's $11/hour. Those jobs generally don't come with any benefits at all and are typically part time.

Most of the available jobs are low-paying part-time with few or no benefits.

The unemployment rate tells only a sliver of the picture. It doesn't consider quality of life, or how many jobs people have to work, in order to afford the basics: food, housing, utilities, and transportation. God forbid a single mom has to afford all that, plus day-care for her children, and clothing for them, diapers - yeah being "employed" doesn't mean diddly, if you're working two jobs just to pay the bills and spend the rest of the time too exhausted to take care of yourself.

The poverty rate isn’t over 13%. As of 2023, it’s 12.24%. That’s less than New York (13.24%) and California (12.47%). These are both states that are similarly large and similarly rent burdened. When you compare apples to apples, the situation in Florida isn’t as doom and gloom as people here would have you believe.

Additionally, the poverty rate in states like Connecticut, New Jersey and Massachusetts may appear better than average, but the income to cost of living ratio doesn’t take into account insane tax rates and stratospheric costs to heat your home in the winter. All that taken into account, these states actually have a much higher rate of poverty than this simplistic ranking would have you believe.

[Lincolnian]

After COVID19, and especially with WFH options for many middle income earners, the cost of living advantages that many southern states enjoyed has diminished. This is particularly true in highly desirable areas such those along the coast, in the mountains, and surrounding lakes. Unemployment rates in many of these areas are very low because the increase in people moving there has led to strong demand for workers in the service, restaurant, hospitality and home services areas. These are typically lower paying jobs and higher housing costs along with lower wages often leaves many jobs unfilled due to a shortage of available workers. Consequently, those in the lowest paying jobs that already live there capitalize on opportunities to move up to better-paying positions often further gutting the pool of the lowest-paying positions.

Fortunately, for Florida, young people are often attracted to the appeal of a tourist-driven area with lots of entertainment, beaches, and a large number of other people who are young and seeking the same. This has allowed Florida to enjoy an advantage on supply of workers over some of the other low unemployment areas without a pool of young workers (like VT, NH, and ME). However, there's a constant turnover of these mostly young workers and the vast majority of those transplants in these low-paying jobs eventually move elsewhere as they improve their credentials or get tired of college-type living. I have witnessed this change in real time over and over and have heard this same story from many of the young workers at some of my favorite restaurants.

[Orionsdolph]

Average Weekly Employment Wages Q3 2022




Washington --------------- $1,657
Massachusetts ------------ $1,651
New York ------------------ $1,608
California ------------------ $1,601
Connecticut --------------- $1,491
New Jersey ---------------- $1,461
Colorado ------------------- $1,432
Maryland ------------------- $1,418
Virginia --------------------- $1,380
New Hampshire -- --------- $1,365
Illinois ---------------------- $1,361
Minnesota ------------------ $1,346
Texas ----------------------- $1,333
Alaska ---------------------- $1,304
Oregon ---------------------- $1,301
Pennsylvania ---------------- $1,296
Delaware -------------------- $1,292
Georgia ---------------------- $1,255
Arizona ----------------------- $1,251
Michigan ---------------------- $1,236
Rhode Island ----------------- $1,225
Florida ----------------------- $1,220
Hawaii ------------------------- $1,208
North Carolina ---------------- $1,207
Nevada ------------------------ $1,205
Tennessee -------------------- $1,198
North Dakota ----------------- $1,190
Ohio --------------------------- $1,187
Utah --------------------------- $1,186
Missouri ----------------------- $1,149
Vermont ----------------------- $1,142
Wisconsin --------------------- $1,140
Indiana ------------------------ $1,123
Alabama ----------------------- $1,120
Iowa --------------------------- $1,118
Nebraska ---------------------- $1,117
Maine -------------------------- $1,117
Louisiana ---------------------- $1,103
New Mexico -------------------- $1,087
Kansas ------------------------- $1,085
Wyoming ----------------------- $1,083
Kentucky ----------------------- $1,082
South Carolina ----------------- $1,079
Idaho --------------------------- $1,063
Montana ------------------------ $1,059
South Dakota ------------------ $1,052
Oklahoma ---------------------- $1,047
West Virginia ------------------- $1,042
Arkansas ------------------------ $1,036
Mississippi ----------------------- $933




https://www.bls.gov/news.release/cewqtr.t03.htm

[Orionsdolph]

Four out of the five US metro areas with the lowest unemployment are in Florida. Here’s why — CNN



"Four out of the five US metropolitan areas with the lowest unemployment rates are in Florida, thanks to the state’s growing population, robust tourism activity and increased business investment.

Miami had the lowest unemployment rate of metropolitan areas with more than 1 million people in February at 2.2%, tied with Birmingham, Alabama, according to the latest rankings from the Bureau of Labor Statistics. Jacksonville, Tampa and Orlando all had unemployment rates below 2.7% that month.

Florida had the biggest population gains due to domestic migration of any state from July 2021 to July 2022, according to the Census Bureau’s latest estimates, growing by more than 300,000 residents. Florida was also the fastest growing state as a percentage during that period, the first time it has notched that top spot since 1957."


“Another reason why unemployment rates in Florida have dropped so significantly over the last six months is due to these throngs of tourism that the state continues to enjoy, especially in light of the fact that this winter was so mild,” said Barbara Byrne Denham, senior economist at Oxford Economics.

More than 137 million people visited the state last year, exceeding 2019’s total, according to figures from the state’s tourism marketing arm. The October-to-December period last year was the sixth consecutive quarter that visitor numbers exceeded pre-pandemic levels."

“Job growth in non-traditional tourism sectors like tech and finance really had an impact on Florida markets and there’s always this herd mentality in the finance sector, so a lot of hedge funds either moved to Florida or they set up an office.”


https://www.cnn.com/2023/04/16/econo...ate/index.html

[1rainman]

It's primarily because the population doubled and there's a lot of work in construction and restaurants right now. It's not stable employment and most of it doesn't pay well. Florida has a horrible economy that looks good on paper.

[Orionsdolph]

Originally Posted by 1rainman

It's primarily because the population doubled and there's a lot of work in construction and restaurants right now. It's not stable employment and most of it doesn't pay well. Florida has a horrible economy that looks good on paper.

Best States for Economy 2022


Florida
#8 in Economy


Florida
#10 in Best States Overall

https://www.usnews.com/news/best-sta...nkings/economy




States Whose Economies Are Thriving 2023


#2 Florida

https://www.gobankingrates.com/money...mies-thriving/




Best & Worst State Economies 2022


#14 Florida

https://wallethub.com/edu/states-wit...conomies/21697




America’s Top States for Business 2022


#11 Florida

https://www.cnbc.com/2022/07/13/amer...-rankings.html




U.S. States With the Fastest-Growing Economies 2022


#4 Florida

https://filterbuy.com/resources/stat...ing-economies/









"Our ranking is based on a 2022 survey of more than 650 U.S. CEOs, presidents and business owners, and includes representation from every U.S. state"







https://chiefexecutive.net/texas-top...urvey-of-ceos/

[JoeJunior]

Don't believe the unemployment percentages. They don't include those that have completely dropped out of the job market.

And salaries are not necessarily an indication of quality of life. Those with high incomes in places like California NYC, New Jersey, Long Island and Connecticut are simply taxed to death with state income taxes and very high property taxes. Their cost of housing is very, very expensive too.

People living in some very low cost of living places actually have a much higher standard of living than those in places mentioned above.

We hearing gripes from Florida citizens experiencing 30% rise in rents because of new residents moving in--supply and demand. Florida sure beats so many other places in quality of life, however.