Thursday, September 22, 2011

Latest income data for Florida

The Census Bureau released estimates for state/income data yesterday and, as expected, it paints a sad picture.  Median household income for Florida, adjusted for inflation, declined to $44,243 in 2010, a decline of 10.4% from its peak in 2006, reaching the lowest level sine 1997.  Preliminary results show that the percent of people living in poverty in Florida was 17% in 2010, above the national average of 15.1%.  Orlando saw its median household income decline to $38,098, a 17% decline from its peak in 2007, causing an increase in the poverty rate to 18%.  Given continued economic weakness in 2011, these numbers are likely to get worse before they get better.