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County spending growth continues to plummet

Here's a disturbing chart from the Herald's Kara Dapena showing the state of taxable sales in the county, which include purchases of everything from cars to clothes. Though still positive, it has been dropping for a year.

As the Herald reports, the county is still likely feeling the effects of slowdowns in Latin economies. This can be seen in passenger arrivals at Miami International Airport, which are down about 3 percent this year, the Herald notes.

“South Florida’s ties to South America can be both a blessing and a curse,” said Sean Snaith, an economics professor at the University of Central Florida. “We’re on the curse side of things right now.”

South Florida's population growth has also been slowing, according to PNC economist Mekael Teshome.

“The international exposure is a very important part of this, but so is population growth” for Miami-Dade, Teshome told the Herald. “When you have slower population growth, it means you have a slower demand for goods and services.”

It may also reflect the fact that we've reached the other side of the post-recession recovery in Miami, as housing sales stalled for most of 2016.

Read the full story here >

South Florida job gains trail state average

Compared to the rest of the country, Florida is booming when it comes to jobs.

But South Florida's employment growth continues to be a laggard in the state, state data showed Friday.

Here's the chart: The region is also trailing Orlando and Tampa, though we're ahead of the U.S. average.

As you can see, Miami job growth is only at about a crawl, though this is partially a function of its larger population, and it too is ahead of the national rate.

Sector growth was highly uneven across Miami, Fort Lauderdale and West Palm. For instance, Miami saw no growth in accommodation and food services, while Fort Lauderdale saw 2.5 percent growth. Miami saw the most job growth in food and beverage stores (6.3 percent), followed by air transportation (5.4 percent), and education and health (4.9 percent). 

Construction jobs declined 1.9 percent in Miami but climbed 7 percent in Fort Lauderdale.
NextEra Energy shares hit new all-time high after reporting earnings

Shares in NextEra, the parent company of Florida Power and Light and one of the country's largest renewable energy providers, hit a new all-time high Friday after the company reported earnings that beat analysts' expectations by a wide margin

Though the company missed on revenue expectations, it still saw revenue growth of 3.7 percent, or nearly $4 billion. The company now has a market cap of $62 billion, making it one of the most valuable public companies in Florida.  
Miami real-estate tech startup raises $1.1 million.

Gridics, a Miami-based startup that compiles real estate data and digitizes zoning plans, announced it has raised $1.1 million, led by Miami real estate developer Avra Jain. Gridics says it has raised over $2 million in capital to date.
Tom Glavine now competing against Derek Jeter for the Marlins

Bloomberg is exclusively reporting that Hall of Fame pitcher Tom Glavine is joining Tagg Romney's bid for the Marlins. Glavine, 51, has no apparent connection to Florida, let alone Miami. He currently lives outside Atlanta.  
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