“Florida’s recovery from the Great Recession picked up steam last year and “all indications” point to even stronger gains this year, according to a statewide economic outlook released Thursday by Wells Fargo Securities.
Among positive signs: In-migration to Florida and hiring have both accelerated; the shadow inventory of homes is gradually being whittled away; and more businesses are expanding. Perhaps the most surprising outperformer stoking a recovery is professional and business services, which account for 40 percent of the jobs that have been added statewide since December 2009.
“While Florida will still need a few more years to fully recover all of the jobs lost during the 2007-2009 recession, a change in direction is clearly evident across much of the state,” Wells Fargo senior economist Mark Vitner and economic analyst Joe Seydle wrote in a 21-page dissection.”
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