Business

Why property insurance could keep rising in Florida

Illustration of a hundred dollar bill with a huge price tag.

Illustration: Aïda Amer/Axios

June 1 is the start of hurricane season. It's also a deadline for Florida property insurance companies to get their reinsurance in place.

What's happening: Insurance companies buy their own insurance — reinsurance — to spread out risk and cover claims. Experts are expecting the price of it in Florida to jump 40 - 50% — or even 70%.

Egg prices in Miami are finally coming down

A person shops for eggs. Photo: Lance McMillan/Toronto Star via Getty Images

Thankfully for shoppers, the price is going down for at least one household staple: eggs.

Driving the news: Recent data from the U.S. Department of Agriculture shows a sharp drop in the wholesale prices retailers are paying for eggs.

Publix is by far Miami's most popular grocery store

Data: Chain Store Guide; Note: Stores under the same brand name have been combined — e.g., Walmart and Walmart Supercenter; Chart: Axios Visuals
Data: Chain Store Guide; Note: Stores under the same brand name have been combined — e.g., Walmart and Walmart Supercenter; Chart: Axios Visuals

Publix was the Miami area's most popular grocery chain last year with 44.6% of the market share.

  • Walmart and Costco were the second- and third-most-popular grocers, with 17.7% and 8.6% of the local market share, respectively.
Martin Vassolo
Apr 21, 2023 - News

Ear wax: Miami shops celebrate Record Store Day

Martin's record collection. Photo: Martin Vassolo/Axios

Girl, put your records on and tell me your favorite song — Saturday is Record Store Day.

Why it matters: The annual celebration of independent record stores featuring local events and exclusive artist releases puts a spotlight on the recent surge in popularity for analog music.

Unemployment rate drops in Miami

Data: BLS; Note: Rate is seasonally adjusted. Chart: Axios Visuals
Data: BLS; Note: Rate is seasonally adjusted. Chart: Axios Visuals

The local unemployment rate fell by 1.2 percentage points in February to 2.2%, per new Labor Department data.

Why it matters: Looking at only the national unemployment rate can hide significant disparities between thriving and struggling cities.

Miami women get paid the least compared to other big metros

Illustration: Eniola Odetunde/Axios

The Miami area is the worst-paying large metro in the nation for women, according to a new study.

Driving the news: Financial website Smartest Dollar published an analysis last week of data from the U.S. Bureau of Economic Analysis and the Census Bureau to determine the country's best-paying locations for women.

Martin Vassolo
Apr 7, 2023 - Sports

Get to know the man behind Kaseya, the Miami Heat arena's new sponsor

Kaseya CEO Fred Voccola

Kaseya CEO Fred Voccola. Photo: Courtesy of Kaseya

You might have heard that the Heat arena has a new name, the Kaseya Center, after Miami-Dade County signed a 17-year, $117 million naming-rights deal with the Miami-based IT software company.

Background: Kaseya relocated its headquarters to Miami in 2018 and earlier this year pledged to create 3,400 jobs in Miami over the next three years in exchange for $4.6 million in county incentives.

Meet the new Miami-based Menudo boy band

Photo: Courtesy of Menudo.

There's a new incarnation of Menudo — the boy band that sold millions of records in the 1980s and launched Ricky Martin's career — in town.

What's happening: The newly-formed Menudo is based in Miami and will perform at a free Latin Music Showcase in Wynwood on Thursday.

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