Florida Economic Outlook: July 2010

After more than two years of dark clouds across much of the Sunshine state, a few rays of sunlight are finally beginning to break through. We believe the recession ended in Florida shortly after it did nationwide, which we deem was around the middle of last year. Nonfarm employment has risen during three of the past four months, producing a net gain of 78,000 jobs since bottoming in January of this … After more than two years of dark clouds across much of the Sunshine state, a few rays of sunlight are finally beginning to break through. We believe the recession ended in Florida shortly after it did nationwide, which we deem was around the middle of last year. Nonfarm employment has risen during three of the past four months, producing a net gain of 78,000 jobs since bottoming in January of this year. While part of the recent improvement is due to hiring for the decennial Census, hiring has picked up across a broad assortment of industries, including hard-hit sectors, such as manufacturing and construction. Thank you for your interest in Wells Fargo’s Economic Commentary by email. You are receiving this message because you have requested Economic Commentary information and updates sent via email. If you no longer wish to receive these emails, please click on the following link to access the Economic Commentary by email registration page: http://www.wellsfargo.com/economicsemail.

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