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Latest LEIP report published

The Jacksonville consumer price index (CPI) was .4% lower at the end of the fourth quarter of 2010 than it was at the end of the third, according to the just-released CPI report from Paul Mason, PhD, founder of the Local Economic Indicators Project (LEIP) at the University of North Florida. Mason’s report was given in the fourth quarter LEIPLINE newsletter. His analysis includes:

• Local inflation was .11%, with food prices stable but gasoline prices higher;

• Outlook appears to be conducive to a return to normal or higher level of inflation, with retail inflation projected to be higher in first quarter 2011;

• Unemployment was at 11.42% in Jacksonville in December. The labor force size is shrinking yet unemployment persists, especially in construction and the financial-service industry. The outlook for the first quarter of 2011 will depend on the signals from consumers to businesses regarding future product and service demand. Some firms continue to lay off workers locally, but other firms are starting to hire again. The first quarter of 2011 will likely see persistent unemployment above the 10% level (if not 11) and jobs will be difficult to acquire.

For more information on LEIP or to help support the project, go to www.unf.edu/coggin/leip/index.htm.


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