As Democratic President Joe Biden recently had to explain away another dismal jobs report, a new study found the man that the media is making into Biden’s main nemesis, is reaping the benefits of laissez-faire economics and following “the science.”
Last Thursday, the Florida-based Foundation for Government Accountability released a report that credited Republican Gov. Ron DeSantis for the state’s economic rebound.
DeSantis, it said succinctly, has “kicked Florida’s economy into overdrive.”
“Florida has had a strong economy for years largely thanks to its work-first policies, low taxes, limited regulations, and support for entrepreneurs. As a result, it was better positioned to weather the COVID-19 economic crisis, and the wise actions of the DeSantis administration during the pandemic have kept the state on a positive path and maintained its competitive edge,” wrote FGA analysts Hayden Dublois and Jonathan Ingram.
Despite that, they noted, Florida as of last March still had roughly 500,000 unfilled jobs, a record high.
Dublois and Ingram attributed that to federal unemployment bonuses and expansions by the Biden administration, which “paid Floridians more to stay home than they could earn by returning to work.”
“Thankfully, Gov. DeSantis has led Florida through an unprecedented economic recovery — most recently by ending the federal unemployment bonus months ahead of schedule. As a result, the Florida economy has kicked into overdrive.”
According to Dublois and Ingram, the evidence for that is seen in what happened after DeSantis ended Florida’s reliance on that Biden administration largesse.
“As the [COVID-related unemployment] bonus ended, Floridians quickly began searching for work, creating an economic climate where small businesses could fill open positions and create more jobs,” the report stated.
Consequently, the state’s unemployment costs plunged from $434 million to $60 million in three months, “work-search” activity surged by 40 percent, and Florida employers hired nearly 1.3 million new workers.
Dublois and Ingram note that almost 400,000 of these new hires came aboard in the first three weeks after the unemployment bonuses stopped.
“For the first time in months, the number of unfilled positions in Florida began to decline in August, as more Floridians left unemployment and returned to work,” the report observed.
“Since the unemployment bonus ended, entrepreneurs have created nearly 150,000 new start-ups in Florida,” it continued. “More businesses are created in Florida than in any other state in America, with a new Florida start-up launched an average of every 46 seconds in 2021.”
“The spike in new hires and decline in unemployment since the federal unemployment bonus ended under Gov. DeSantis’s leadership is to thank for the increase in new businesses,” Dublois and Ingram wrote. “Since the bonus ended, business creations in Florida are up by nearly 70 percent compared to the same period before the pandemic hit.”
“Entrepreneurs in Florida have already created more new businesses so far this year than they created in all of 2019. … In fact, Florida’s economy has grown by more than $60 billion from its pre-pandemic levels.”
Dublois and Ingram concluded, “The bottom line: Florida is America’s economic powerhouse.”
“As lockdown and mask-up states have struggled to get back on track, Florida has once again proven itself as the nation’s economic powerhouse. Today, there is more job creation, more economic activity, and less unemployment thanks to the economic stewardship of Gov. DeSantis. … Florida is not just a model for the nation — it has become the model for the nation. Other states should emulate the proven Florida model and set their economies on track for success.”
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