economy

Saying "American workers and families will have a champion in Janet Yellen," President Obama officially nominated her to chair the Federal Reserve, once Ben Bernanke completes his term in January.

Yellen "is the kind of person who makes everybody around her better," Obama said, adding that Yellen is "extremely well qualified" and "renowned for her good judgement."

Obama made the announcement at the White House on Wednesday, flanked by Yellen and outgoing Fed chief Ben Bernanke. If confirmed, Yellen will be the first woman to head the American central bank.

Tom Hudson

Mayor Carlos Gimenez started his career as a government employee in 1975. He's still one today, but with a very different perspective. From a firefighter to mayor of Miami-Dade County, he now leads over 25,000 full-time public sector employees.

Gambling Study Raises Doubts At Florida Senate Hearing

Oct 8, 2013
z4x7.blog.com

A massive expansion of gambling throughout Florida could boost state coffers by $1 billion a year instead of a $22 million loss previously estimated, authors of a gaming study told a Senate committee on Monday.

Tom Hudson

Since 2008, Nobel Prize-winning economist and Princeton University professor Paul Krugman has been a loud and consistent voice calling for more government stimulus to help the American economy recover from the Great Recession, induced to a large extent by the financial implosion on Wall Street.

RELATED: The Sunshine Economy: Public Debt

Tom Hudson

One cost of the federal government slowdown is a delay in the monthly checkup on the nation's job market. The September unemployment report was due out Friday morning, but U.S. statisticians are among those on leave until there is an agreement on funding the government.

Tom Hudson

Like a lot of law enforcement agencies in South Florida, the Lauderhill Police Department run by Lauderhill Police Chief Andrew Smalling did not hire any new officers for several years as the city's budget was hit by falling property values. But now Lauderhill is hiring again. It's looking for five new officers, offering full benefits and a starting salary around $50,000.

Wikipedia.org

A Florida Senate committee on gaming will take up the controversial issue of expanding casinos and gambling in the state at a hearing today in Tallahassee.

The hearing will include a discussion between elected officials and analysts from New Jersey-based consulting firm Spectrum Gaming Group, a firm with strong ties to the casino industry. The company was commissioned by lawmakers to compile a much-anticipated report on the impact of gambling on economic growth.

The work that Shaun O'Connell does is required by law, yet now he's sidelined by the government shutdown.

O'Connell reviews disability claims for the Social Security Administration in New York, checking that no one's gaming the system, while ensuring people with legitimate medical problems are compensated properly.

Billions of dollars are at stake with this kind of work, yet O'Connell is considered a nonessential employee for purposes of the partial government shutdown.

Miami-Dade Office of Film & Entertainment

Now that “Burn Notice” has wrapped up seven successful seasons, will a new show step in to send the world a postcard of Miami every week?

The USA Network production ended its run recently while ratings were still strong. Thanks to a worldwide audience, it’s likely to live for years in syndication.

But the end of the show, as well as A&E’s The Glades and Starz’ Magic City this summer, leaves a void in Miami’s economy. A lot of folks made money off these productions selling props, renting cars, catering food, cleaning costumes and working on-camera.

Gloria Lewis

Florida is among the top 10 states with the largest share of its population relying on food stamps. Nearly 20 percent of the state requires assistance. However, with federal cuts to the program likely, many could find it even more difficult in South Florida, where the cost of food is above the national average.

Just over a year ago, Miranda Childe was an assistant professor in English at Miami-Dade College. But due in part to funding cuts at state colleges, she suddenly found herself out of work.

psych.princeton.edu

09/23/13 - Monday’s Topical Currents is with Princeton University Professor of Psychology and Public Affairs, Eldar Shafir.  He specializes in cognitive science and behavioral economics.   Shafir is the co-author of SCARCITY:  Why Having Too Little Means So Much.  They say scarcity predicts that daily errors are common and unavoidable . . . no matter how motivated the person.

A story in the Financial Times caught our eye this week. It was on foreign workers in South Korea.

The story looked at the town of Ansan, where about 7.6 percent of the population is foreign. They come from other Asian countries, as well as from Russia. Here's one of the reasons for the change in South Korea, a highly homogeneous society:

It all started out so promisingly. She was young, still in her teens, and she'd landed her first job. As is the custom in Brazil, to get your salary you have to open an account with the bank the company deals with — and with that new account came the woman's first credit card.

"The banks say, 'I want to help you,' " she says. "And if you have a credit card, it's a status symbol, you are well-regarded."

She switched jobs. That company dealt with another bank — which issued her another credit card. She got a store credit card, too.

Creative Commons via Flickr / Shawn Walton

After a period of economic decline, Miami's Overtown is getting a booster shot.

On Thursday, the city's Southeast Overtown / Park West Community Redevelopment Agency (CRA) approved a joint plan that would cede two city blocks to a team of developers in the hopes of rejuvenating a stretch of land in one of Miami's core neighborhoods.

Talent retention is a hot topic.

It seems like every group and organization in South Florida is working on a formula to reverse the ‘brain drain’, stop the ‘intellectual exodus’ or prevent the ‘mind migration’. With solutions that range from online resources and job boards to skills-based training and data collection on Miami’s talent pool, there is no deficiency of great ideas.

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