Rising food and gas prices are a daily reminder that even though Florida’s economy is in a much better place than it was in March 2020, the economy is decidedly more expensive two years later in March 2022.

Often overlooked in favor of more eye-catching employment headlines such as unemployment rates and job creation numbers, job quitting rates are an indispensable part of understanding the overall economic recovery. Newly released national data from the U.S. Bureau of Labor Statistics (BLS) reveal the number of people quitting their jobs in November 2021 hit a record high of 4.5 million—far above any other level on record since data first started being recorded. Since the summer of 2021, a collective 21.3 million individuals have quit their jobs across the nation.

For more than a year, Floridians have experienced first-hand the changes, challenges and, in many cases, the frustrations that arise when a pandemic affects global trade. 

Federal corporate income tax reform, which had the general aim of broadening the base and lowering the rate, has reduced the federal tax burden on many corporations. However, since Florida adopted most of the base expansion measures without a concurrent rate reduction, federal tax reform has resulted in increased taxes at the state level, even after subsequent state refunds and rate cuts.

As unexpected and unpredictable as COVID-19 has been, few could have predicted the housing boom that the pandemic ignited across the nation. The U.S. housing market—notoriously known for its role in the 2007-2009 Great Recession—defied expectations and experienced record price growth over the past year as demographic trends, government policies, and basic supply and demand all coalesced. In the short term, soaring home prices have been well-documented both analytically and anecdotally.