As June winds down and we approach Independence Day, we have something extra to celebrate! As always, Palm State Mortgage is on the look-out for encouraging financial improvements. In May of 2012, Florida’s unemployment rate dropped to 8.6 percent. This is the lowest unemployment rate we have achieved since December of 2008.  (See more statistics by clicking here.)

This week, Kiplinger reported that Orlando was one of the top eight American cities destined to out-perform the country’s 7 percent unemployment average between now and 2017. To gain this honor in the Kiplinger Report, Orlando was in competition with all other American metropolitan areas with at least 1 million people. The eight cities also were required to demonstrate above-average population growth and job market expansion.
Governor Rick Scott declared, “It is clear that the work we have done to lower the cost of doing business in our state by cutting taxes and reducing regulation is giving the private sector the confidence it needs to expand, grow and add jobs.”

Apparently, and according to statistics, the U.S. Department of Labor agrees with our governor! These are the eight top cities slated for economic success on the Kiplinger list, and their projected job growth over the next 5 years.

Nashville – 18 percent job growth
San Antonio – 16 percent job growth
Orlando – 15 percent job growth
Raleigh, N.C. -14 percent job growth
Portland, Ore. – 12 percent job growth
Oklahoma City – 10 -12 percent job growth
Phoenix – 8-10 percent job growth
Atlanta – 8 percent job growth

Read more details at this source.

On the other side of the coin, we face great challenges according to other statistics recently released by the Federal Housing Finance Agency . They reported, state by state, on loan modifications and delinquencies. Florida has the highest number of issues, the map shows. More than 8 percent of the state’s 1,983,493 outstanding Fannie Mae and Freddie Mac loans are seriously delinquent. Of the state’s loans, 264,957 have undergone some type of foreclosure prevention since October 2008, including 136,312 loan modifications.  However, we feel that these statistics should be viewed in the light of the above mentioned declining unemployment and improving job growth.

In Governor Scott’s words, “Florida’s continued steady decline in unemployment shows that Florida is on the right track. I remain committed to growing private-sector jobs in our state by making Florida the No. 1 place for business so that every Floridian can have the opportunity for a job.” In spite of their challenges, Palm State Mortgage thinks Floridians are undaunted. With jobs come houses, and with houses come mortgages. The Unemployment rate has fostered the feeling of recovery. Perhaps Florida has declared its independence from economic failure, and our state anticipates the fireworks of success.

On this coming July Fourth, many newly employed Floridians will be celebrating Freedom from fear.

We of Palm State Mortgage sincerely thank our blog readers and ask that you help us spread our “Happy Fourth of July” message through your “sharing” on Facebook.