Florida's population posted a decline not seen since 1946 following the World War II. According to market data, the state's population dropped by 58,000 in 2008, the first time since a great number of military personnel moved out of the state 63 years.
Researchers have been blaming the worsening recession, dropping tax revenues and growing foreclosed home listing as factors pulling down the population growth in Florida.
Stan Smith, director at the Economic and Business Research at the University of Florida, said that there have been growths and collapses in the past 63 years but this is the first time that a decline in the state's population has been noted.
According to industry analysts, the state's economy has always relied on its population growth. A drop in the number of residents affected jobs in various sectors, including real estate, construction and mortgage lending, thus creating a not so good environment. In June, the state's unemployment rate rose by 10.6 percent, the highest percentage point recorded in the state since 1975.
Added to the problems facing residents of Florida is the uncontrollable rise in the number of foreclosure properties in the state. Florida's foreclosure rate is one of the highest in the country for several years now.
Data from the U.S. Census Bureau showed that Florida's population is estimated at 18.3 million. Population estimates were based on data from homestead exemptions, building permits and residential electric hookups.
Industry analysts said that one of the reasons why there are few new residents in Florida is the difficulty of people to sell their houses in other states. They noted that New York continues to be Florida's major source of domestic migrants. However, the pace of internal migration has been slowing, analysts added.
The drop in population not only affected the retail industry in the state but also the education sector. According to data released by the Florida Office of Economic and Demographic Research, the estimated enrollment in public schools in the school year 2009-2010 dropped by almost 10,000 compared with previous school year.
But industry analysts are still optimistic about Florida's economy. They believe that the state would resume its economic growth again but not as fast as it used to in the past years.
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