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GAS PRICES DIVE: Gasoline prices in Miami drove off a cliff last week, plunging 11.6 cents per gallon on average to $3.10, according to GasBuddy, which predicts possibly the lowest prices in two years by Christmas. Gas prices in Miami now are 17.8 cents lower than a month ago and 38.4 cents below a year ago. The national average price fell 6.2 cents per gallon last week to $3.27, which is down 25.9 cents from a month ago and 36.9 cents from a year ago. Eleven states are seeing average prices below $3.
MORE WORKERS QUIT: Florida was the only state where job separations increased in September and one of only two states to show an increase in workers quitting their jobs, figures released this week by the US Bureau of Labor Statistics show. Higher rates of workers quitting indicates a strong labor market where jobs are plentiful. Florida job separations increased by 41,000 from August as 42,000 more people quit their jobs during the month. Across the nation the quit rate was 2.3% in September, but in Florida it was 2.9%, up from 2.4% in August. The quits rate is computed by dividing the number of quits by total employment and multiplying that figure by 100. Florida saw 281,000 persons quit in September, third in the nation behind Texas at 396,000 and California at 312,000, In contrast, Florida had 261,000 persons quit in September 2022 and 239,000 in August of this year.
SAFETY VOTES PASS: The Miami City Commission passed two resolutions related to public safety Nov. 16. The first accepted about $2.5 million from the US Department of Homeland Security to support fire-rescue officer training and readiness through 2025 to ensure Miami’s preparedness and prompt response to emergencies. Another approved resolution requests the Miami-Dade Transportation and Public Works Department to weigh proposed traffic flow changes at 14 intersections in Coconut Grove and Morningside that include raised intersections, speed tables and textured pavement to discourage speeding and improve pedestrian safety.
FLOOD RISK DISCLOSURES: A bill filed for the next Florida legislative session would place a series of requirements on people to disclose flood risks before selling property. Sen. Jennifer Bradley’s bill would require property owners to disclose to prospective buyers whether the property has been damaged by flooding and the number of times it has been subject to flooding. Owners would have to disclose whether the property has been covered by flood insurance, whether flood insurance claims have ever been filed and whether owners have received federal assistance for flood damage.