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ECONOMIC CONDITIONS

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Topic: Economic Conditions

Sort Desciption: Economic Conditions. Inflation is measured by a number of different indicators. .... Economic Conditions. Per capita income figures may speak to the overall ...

Content Inside: Economic Conditions ECONOMIC CONDITIONS INTRODUCTION Over the last few decades Southwest Florida has experienced tremendous growth in terms of population and economy. This chapter describes the recent growth of the Region's economy. When applicable population growth and inflation are incorporated to reflect economic growth patterns more accurately. (See methodology discussion of examples of how "real" and "real per capita" figures were derived.) This chapter explores the functional aspects of the Region's economic systems. Income is discussed first followed by labor force and employment. Next Southwest Florida's seven major economic sectors are analyzed in detail. INCOME Income is one of the major indicators of an economy's well-being. One of the most commonly used income statistics is personal income. Personal income is the before-tax income from all sources after deductions for social insurance programs (e. g. Social Security). Personal income is comprised of five categories: wages and salaries other labor income proprietors' income property income (rents dividends interest and other sources) and transfer payments (Social Security Aid to Families with Dependent Children etc.). "Earned" personal income is the income earned by the employed labor force. It consists of the first three categories mentioned above (wages and salaries other labor income and proprietors' income). Property income and transfer payments are classified as "unearned" income. Data in this section deal primarily with total personal income and its components. The first part examines the impact of inflation on purchasing power. The second part analyzes total personal income in the aggregate and by component to determine present levels and to identify future trends. The third part evaluates per capita personal income and median family income in order to assess incomes on a societal scale. The fourth part looks at earned personal income o ...

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