businesses Archives - The Florida Capital Star

Commentary: An Economy That Serves Nobody Except Those in Charge

September 21, 2024 American Greatness

As we outlined in Part One, here in California, we have an economy that would be the fifth largest in the world if it were to be separated as a standing nation. Home to Silicon Valley, Hollywood, world-class agriculture, and medical schools, California is an economic powerhouse.

Yet we, in California, have the highest poverty rate in the nation. We have a majority of the nation’s homeless people. We have the highest overall tax rates in the nation. Our energy costs are double that of the national average. Our per-student spending in schools is well above the national average, yet our students consistently have below-average grade-level test scores. Our major cities are crime-ridden, our power grid is woefully vulnerable, and our beaches are regularly closed due to raw sewage contamination.

Commentary: Corporate Media Desperately Wants People to Ignore This Alarming Factoid in Newest Jobs Report

June 8, 2024 Florida Capital Star Staff

Ignore the May jobs report‘s topline establishment survey number and the media’s celebratory reporting. It’s not to be trusted.

A new analysis by the Daily Caller News Foundation shows that payrolls were overstated by 1.3 million last year after accounting for the constant downward revisions. A new Bloomberg Economics report finds monthly job gains were overstated by 730,000 last year. Bloomberg says a surge of business closures is to blame.

Commentary: Americans Are Worse Off than Four Years Ago

March 9, 2024 Florida Capital Star Staff

The State of the Union is not strong. Americans are facing a cost-of-living crisis, high crime, and an unsecured southern border as a direct result of Democrats’ failed policies led by perpetrator-in-chief Joe Biden.

Instead of taking accountability for these pressing national challenges, Biden promised more of the same in his State of the Union address Thursday night.

Full-Time Work Is Being Replaced by Part-Time Jobs as Americans and Businesses Struggle

February 4, 2024February 3, 2024 Florida Capital Star Staff

Since June 2023, Americans have been increasingly employed in part-time positions, with a subsequent decline in full-time work, according to data from the Bureau of Labor Statistics (BLS).

The number of Americans working part-time in January grew by 96,000 compared to the previous month, while full-time employment sank by 63,000, according to the BLS. The change in the types of employment follows a trend toward part-time employment that has been increasingly exacerbated since June 2023.

Florida Should Be Able to Lower Rent, Lease Sales Tax for Businesses Soon

January 13, 2024January 12, 2024 The Center Square

Florida’s Unemployment Compensation Trust Fund balance, drained during the COVID-19 pandemic, is expected to exceed its prepandemic level by March, two months earlier than expected, according to the nonprofit group Florida TaxWatch.

That will allow a decrease in state sales tax businesses must pay on payments made to rent or lease of commercial property. The 4.5% business rent tax will be lowered to 2% in June instead of August, according to the Florida Department of Revenue.

Businesses Begin Abandoning ‘Diversity’ Initiatives

November 29, 2023 Florida Capital Star Staff

Despite a concerted effort by many institutions, government entities, and other left-wing forces to push “diversity, equity, and inclusion” (DEI) initiatives on private businesses, 2023 saw a greater decrease in such measures than previous years.

As reported by the Daily Caller, the total number of businesses with a designated DEI budget dropped to 54% in 2023, down four points from 58% in 2022. In the same period of time, the number of organizations with a DEI strategy declined by 9%. Both of these statistics were compiled by the consulting firm Paradigm.

Health Insurance Costs Expected to Spike at Highest Rate in over a Decade

September 8, 2023September 7, 2023 Florida Capital Star Staff

Employer health insurance costs are expected to increase significantly in 2024, affecting costs for both workers and businesses as hospital operating costs rise, according to data reported by The Wall Street Journal.

Next year, the costs for health insurance coverage from employers are expected to increase by around 6.5%, which could be the biggest increase in more than a decade, according to survey data acquired by the WSJ. Driving the increase in health insurance costs are inflated labor costs for hospitals and a large demand for expensive new diabetes and obesity drugs, which are being passed down to insurance companies in new contracts with the hospitals.

Survey of Businesses Shows Temp Hiring Hits New High While Full Time Hires Plummet

August 22, 2023 The Center Square

Facing labor shortages and challenges to find new revenue streams, small businesses appear to be hiring mostly temporary workers.

Alignable, a small business networking website, shows temporary hiring hit a new high this summer while full time hires have plummeted.

Southern States Are Booming as Wealth Flees Democrat-Run Northeast

July 9, 2023 Florida Capital Star Staff

Six states in the south are seeing rapid growth in the share of national gross domestic product (GDP) as people flock to the region, while states in the northeast are faltering, Bloomberg reported.

Florida, North Carolina, South Carolina, Texas, Georgia and Tennessee are in the middle of a $100 billion wealth migration that started during the COVID-19 pandemic as businesses and people moved south, according to Bloomberg. States in the northeast lost approximately $60 billion in 2020 and 2021, falling behind the six southern states in collective GDP for the first time.

Supreme Court Expands Degree to Which Businesses Must Accommodate Religious Workers

July 2, 2023 The Center Square

The U.S. Supreme Court ruled Thursday to expand the degree to which businesses have to accommodate workers for religious purposes.

In the case, Groff v. DeJoy, Postmaster General, the court found that postman Gerald Groff, an evangelical Christian, should not have been disciplined for refusing to work on Sundays for religious reasons. The majority opinion cited Title VII’s requirement to accommodate employees for religious purposes provided it does not cause the employer “undue hardship.”

50-State Report: GOP-Led States Are in Best Economic Condition

April 17, 2023April 16, 2023 The Center Square

A new report ranks all 50 states from best to worst for economic conditions, showing which states have improved, and worsened, in creating an economic climate where businesses want to invest.

The American Legislative Exchange Council released the state analysis, which ranks Utah as the number one state, North Carolina as second, and Arizona as third. Idaho and Oklahoma fill out the top five spots, ranking fourth and fifth, respectively.

Commentary: The Difference Between Non-Profit and Not for Profit Companies

March 27, 2023 Admin

For Ask an Economist this week I have a question from Hal who asks, “What is the difference between a ‘non-profit’ and a ‘not for profit’?”

In order to address this question, I think it’s important to discuss what separates a for-profit business from these two forms of organization.

Record High Employee Turnover Since Pandemic Has Hurt Business Productivity

January 4, 2023January 3, 2023 Florida Capital Star Staff

Employee turnover has surged since the pandemic, and the need to replace and train new employees at high volume has hampered productivity for businesses, according to The New York Times.

More than 4.5 million workers voluntarily left their jobs in November 2021, the highest since the government began tracking this data 20 years earlier, and the turnover rate remains significantly higher than it was before the pandemic, according to the NYT. Businesses are struggling with the costs of high turnover; new employees take time to become productive, and existing employees lose productivity because of the time they spend training others.

Businesses Add Fewest Jobs in Two Years as Manufacturing Craters

December 1, 2022November 30, 2022 Florida Capital Star Staff

Private companies added 127,000 jobs in November, missing investor expectations by more than 70,000 to post the worst result since January 2021, according to private payroll firm ADP and CNBC Monday.

The addition represented a sharp decline from the 239,000 new jobs reported by the firm in October. Industries that were most directly impacted by higher interest rates, such as construction, were hit the hardest by job cuts, while consumer-facing industries, such as hospitality, largely weathered the storm, according to ADP.

Commentary: Neither White House nor Common Man Can Evade Recession Data

October 2, 2022October 1, 2022 Florida Capital Star Staff

Newly released data from the Commerce Department show what some people have been saying for months: The nation is in recession.

Furthermore, the Biden administration’s cherry-picking of data has come back to bite it, with even its selected data points now being revised to indicate a recession. And while these numbers confirm the economy shrank in the first half of the year, the rest of this year holds little promise of recovery.

Businesses Fail to Find Workers, and Experts Say Federal Policies Have Made It Worse

May 14, 2022May 13, 2022 The Center Square

A new labor market survey found that a majority of employers, particularly restaurants, still cannot find enough workers.

The new report from Alignable said that 83% of restaurants can’t find enough workers. Overall, the report found that “63% of all small business employers can’t find the help they need, after a year of an ongoing labor shortage.”

Biden Unveils $5.8 Trillion Budget Proposal with Increased Taxes on Businesses, Wealthy Individuals

March 30, 2022March 29, 2022 The Center Square

President Joe Biden unveiled a new 2023 budget proposal Monday along with major tax increases to help pay for it.

Biden’s budget, which comes in at about $5.8 trillion, is not expected to become law, but presidential budgets help set the legislative priorities for the year to come.

DeSantis Announces Anti-Woke Legislation

December 16, 2021December 15, 2021 Grant Holcomb

Florida Gov. Ron DeSantis (R) announced at a press conference yesterday the unveiling of new anti-woke legislation referred to as the Stop the Wrongs to Our Kids and Employees (WOKE) Act. After DeSantis banned Critical Race Theory (CRT) from Florida’s schools he said this is the next step in legislation to fight back against “woke indoctrination.”

U.S. Retail Sales Increased as States Ended Restrictions

July 17, 2021July 16, 2021 Florida Capital Star Staff

Male checking out on Square program at retail store

U.S. retail sales jumped in June, boosted by states widely loosening coronavirus restrictions and businesses returning to full capacity.

Retail sales increased 0.6% and totaled $621.3 billion in June, according to the Department of Commerce report released Wednesday. The monthly increase was driven by general merchandise, including food service, clothing, personal care, electronics and gasoline sales, the report showed.

“Sectors that were buoyed by the pandemic are slowing down a little bit, but not to a degree that I’d be concerned about,” Square economist Felipe Chacon told The Wall Street Journal. “Household finances have been bolstered by a few rounds of stimulus spending, so it bodes pretty well.”