• Florida’s unemployment rate dipped to 3.2% in March, and Central Florida’s labor markets were particularly strong. Economic analyst Dr. Hank Fishkind says it appears that Central Florida’s hospitality industry recovery is finally starting to take root.
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• Apartment rental rates are skyrocketing across the country, but Florida’s rent increase was higher than any other state’s. It’s up by 30 percent since this time last year, with the biggest jumps found in Orlando, Tampa, and Miami. Economic analyst Hank Fishkind explains why the rents are climbing in Central Florida, and what can be done to slow them down.
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• Florida’s overall job market is recovering to pre-pandemic levels…mostly. The new labor report from Florida’s Department of Economic Opportunity is a strong one, with one glitch that affects Central Florida in particular. Dr. Hank Fishkind explains the details.
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• The Federal Reserve has announced it will raise interest rates to try to tamp down inflation. Right now, consumer prices are up by nearly eight percent and gas prices have approached all-time highs. Economic analyst Dr. Hank Fishkind talks about how the change by the Fed will impact Central Florida.
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• Florida lawmakers have wrapped up this year’s legislative session by approving a record $112.1 billion state budget for the 2022-2023 fiscal year. That’s more than ten percent higher than the current budget. Economic analyst Dr. Hank Fishkind offers his review of the upcoming state budget, starting with two issues he says he wishes lawmakers would have addressed that are affecting the state: condo safety precautions and property taxes.
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• Employment rose by 689,000 in February, the unemployment rate dipped to 3.8%, and the labor force participation rate climbed. And revisions to previous months mean employment rates were even higher than first reported. Economic analyst Dr. Hank Fishkind says the news is especially positive for Central Florida, as we see our tourism sector reflected in the makeup of the job growth.
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• Many uncertainties cloud the future of the war in Ukraine. Economic analyst Hank Fishkind says that from a purely financial perspective, if Russia’s attacks stay inside Ukraine’s borders – including cyberattacks – the effects on Central Florida’s economy will be “modest.”
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