The Real Deal Miami

Region ponders bailout benefits

September 29, 2008 10:38AM

The upheaval of Wall Street’s financial system leaves many South Floridians wondering how the hard-fought legislative compromise going to a Congressional vote will affect them. Senior Economist Mark Vitner of Wachovia Securities says the attention on the bailout has taken the focus off regional economic problems, which have gotten worse in the last few months. The economic downturn in Florida, which began three years ago when the housing market started to fall, has also cut into Florida’s payrolls. In Broward, Palm Beach and Miami-Dade counties, 10,600 jobs in finance have disappeared in the last two years — close to half as many jobs as were lost in construction — as the housing market wound down.