By Staff, Florida Politics
October 22, 2018
Florida loses more than $11.8 billion and 126,000 jobs each year to “excessive” litigation, according to an analysis released Monday by the Florida Justice Reform Institute.
The trend most hurts the retail sector, at a cost of more than 39,413 jobs, followed by business services, at 20,237, and health services, at 17,452, according to research conducted for Citizens Against Lawsuit Abuse, another tort reform organization.
The analysis claims more than $7.5 billion in lost personal income, including wages, interest and rents — more than $357 for every person in Florida.
Additionally, such litigation trims almost $615 million from annual state revenues and $516 million for local government.