The federal government’s shutdown is costing South Florida about $7 million a day in personal income, according to a new estimate by Miami-Dade’s official economist.
With about 33,000 federal workers in the tri-county area, the lost wages amount to $46 million for the region, according to a report by Robert Cruz, chief economist for Miami-Dade and his deputy, Robert Hesler. The report also pegs the cost to Miami-Dade alone at $31 million a week.
In the report, Cruz and Hesler note the cost is in “deferred” income, since workers are expected to be eventually reimbursed for lost pay once the government reopens.
“The deferred income will reduce local consumer spending in the short run, depending on the extent of household savings and the length of the shutdown,’’ according the report released Thursday.