Sunday, June 23, 2013

Since 1955, tourism-based economy no drawback for Fort Lauderdale incomes

Fort Lauderdale today

By Jane Feehan

In 1955 family incomes in Fort Lauderdale were well above the Florida average and considerably ahead of the same level for families in the South Atlantic states.

Of the 9,750 counted families in the city, 49.2 percent had spendable incomes (after taxes) over $4,000. The Florida average was 36.5 percent; for South Atlantic states it was 41.4 percent.  Further, it was determined that 23.6 percent of the city's total had incomes in the $6,000 range or above (as stated by the 1955 Consumer Markets Annual Report).

That was a big change from the year before, when 62 percent of Fort Lauderdale families had spendable incomes under $4,000; for Broward County, it was 63.5 percent. The percentage of families with incomes above $7,000 was 12.7; it was 12 percent for the county.

Today, statistics are compiled in different ways by different entities. The U.S. Department of Commerce, Bureau of Economic Analysis states that per capita personal income in the Miami, Fort Lauderdale, Pompano area in 2011 was $43,072.  

Below is data from the Bureau of Economic Analysis reflecting per capita  income, not seasonally adjusted, for Miami, Fort Lauderdale and Pompano in one graph, and another for the U.S.  A Miami, Fort Lauderdale and Pompano compilation was not available for per capita personal income before 1969, nor was one available for personal disposable income. The point of these graphs? Fort Lauderdale has kept up with  national averages even though it has long been a tourism-based economy. Copyright © 2013. All rights reserved. Jane Feehan.

Data for Miami, Fort Lauderdale and Pompano

Data for United States

Tags: Fort Lauderdale in the 1950s, personal per capita income Fort Lauderdale, Miami and Pompano, historical researcher

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