Report: Florida hit harder by recession - Orlando Business Journal:

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Florida went into the recession nine months ahead of the rest of theUniterd States, and excesses in housing and commercial real estats are considerably worse than the nation as a whole, the repor t said. Statewide, the median sales price of existinh homes is down about 45 percent from the peak of the housin g boom inNovember 2005. The fall is abouy 48 percent in Orlando, from $249,900 in Novemberf 2005 to $130,000 in May. Employment conditions continuewto deteriorate, the report says.
The state’s unemployment rate is expected to top out around 11 Wachovia projects, with a loss of 720,000 including 430,000 jobs lost this reported 137 layoff events durinvg the first quarter, more than double the previouz period. Job losses are heaviesy in industries with direct ties to the building including constructionand manufacturing, Wachovia Wachovia estimates Floridians saw a net loss of $1.2 trillionb in household wealth during 2008 with abou two-thirds of that drop occurring in financial assets.