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Wednesday's Daily Pulse
What you need to know about Florida today
Fixing failed unemployment system, adding 108 workers are Florida agency’s priorities
Florida’s unemployment agency is asking lawmakers for $5 million to hire 108 new employees to handle increasingly complex unemployment claims, part of an overall legislative request that could include spending millions more to overhaul the state’s beleaguered unemployment website. The Department of Economic Opportunity’s new executive director, former state Rep. Dane Eagle, said he’s hired an outside company to find out how and why the unemployment website, known as CONNECT, failed this year amid a crush of pandemic-related jobless claims. [Source: Miami Herald]
DeSantis moves to allow citizens to shoot looters, rioters targeting businesses
Florida Gov. Ron DeSantis has drafted “anti-mob” legislation that would expand the state’s Stand Your Ground law – a move that some worry would allow armed citizens to shoot and potentially kill anyone they suspect of looting. DeSantis’ newest legislation comes in response to months of protesting that frequently lead to rioting this summer in Florida and across the U.S., following the death of George Floyd, a black man who died after a white Minneapolis police officer knelt on his neck for nearly nine minutes. [Source: Fox News]
Mortgage delinquencies decline in third quarter, but Florida is an outlier
The third quarter of 2020 brought good and bad news when it comes to who could afford to pay their mortgages on time as the coronavirus pandemic maintained its hold on the United States. Overall, the national mortgage delinquency rate decreased from the second quarter by a little more than half a percentage point to 7.65 percent of all outstanding loans, or roughly 2.98 million mortgages, according to new numbers released Tuesday by the Mortgage Bankers Association. [Source: Tampa Bay Times]
Eta damages were modest. But ‘crazy’ 2020 storm season likely to spike insurance rates
According to industry experts, it is also likely to bring with it insurance rate hikes for Florida policy holders, even if they don’t file a storm claim. “We’re going to be seeing significant rate increases,” said Jay Neal, executive chairman of the Federal Association for Insurance Reform, a Florida-based consumer group. For a typical insurance company, the cost of protecting its own bottom line is more stable when it only has to think about a once-in-a-century event, like Hurricane Katrina. [Source: Bradenton Herald]
Stocks for cruise industry saw its biggest increase after vaccine announcement
When Pfizer announced Monday that their vaccine proved 90% effective in early trials, stocks soared, including tourism stocks. Florida tourism leaders are now hopeful that this means that a better tourism economy is right around the corner. Less people are traveling, and because Florida relies heavily on those tourism dollars, Florida is eager to welcome visitors back. [Source: Fox 13 News]
ALSO AROUND FLORIDA:
› Florida citrus growers optimistic about quality, demand
Although the USDA is projecting decreases in Florida orange and grapefruit volume this season, growers say a lot of the projected decrease is for the juice sector.
› Florida COVID-19 hospitalizations increase by 25% over 2 weeks
Self-reported data from hospitals published by the state shows 3,034 patients hospitalized with a primary diagnosis of COVID-19 as of Nov. 10.
› Youfit files for bankruptcy as pandemic’s toll on gyms increases
The pandemic’s toll on fitness centers is growing with another chain — Youfit Health Clubs LLC — filing for Chapter 11 bankruptcy protection.
› Tampa General Hospital to launch venture capital fund
The Tampa-based hospital plans to launch the fund next year, under the leadership of a newly named vice president of innovation.
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