There has been some more bad news for folks who consider Florida a backward hell where its oppressed residents slave for peanuts — although everyone and his sibling seems to be moving here anyway. According to a survey released last week by the advocacy and research nonprofit group the American Association of University Women, Florida ranks fourth in the nation when it comes to gender pay equity.
According to the AAUW, women in the United States earn 80 cents for every $1 earned by men. In Florida, that number is 87 cents for women for each dollar for men. The AAUW survey found that California has the smallest pay gap, at 89 cents, and Louisiana the largest, with women there earning only 69 cents for every dollar men earn.
California is one of seven states with what the AAUW considers “strong” laws mandating gender pay equity. Interestingly, it says Florida is among a group of 17 states, mostly but not exclusively in the Southeast, with “weak” pay equity laws. Nevertheless, Florida is only three spots lower on the pay equity scale below California.
While other factors are at work, the recent swan dive in the major stock market indexes is the inevitable unraveling of the decade-long capital misallocation the Federal Reserve fostered by keeping interest rates near zero since the 2008 financial collapse. This has forced people who wanted any decent return on invested capital to buy stock, because bonds and other investment vehicles tied to interest rates were paying little or nothing. Now that the Fed has begun raising rates, a lot of the money that has been parked in stock markets is headed for the door — as everyone should have expected.