The unemployment rate in South Florida economy eased a bit in the third quarter but remained above 10 percent, where it has hovered since 2009, as the recovery from recession remained slow.
“We’re slowly getting out of a huge hole,” said economist Tony Villamil, who is dean of the business school at St. Thomas University. “We are in this ‘new normal’ economy of very slow growth. And it’s going to take three or four years to close the so-called output gap that was left by the great recession of 2009 and 2010.”
