Reported ByStephanie Coueignoux
ORLANDO -- Florida ranks seventh on a list of states in fiscal peril.
According to the University of Florida's Bureau of Economic and Business Research, during a one year period, the state's population fell by more than 58,000.
Florida's population hasn't been this small since World War II.
This may not seem like a big deal for a state with 18 million residents, but it's been 63 years since the population even fell at all.
Moving company, Knight Movers, has seen an increase in business from both longtime residents moving out of Florida and people from overseas moving into Florida.
Company officials say they believe because the dollar and the housing market are so weak, a lot of visitors are taking advantage.
Florida also has a 2.72 percent mortgage foreclosure rate. Florida's revenue fell by 11.5 percent, and lawmakers are facing a deficit of 22.8 percent.
Experts say Florida is in a financial hole because it relies so heavily on tourism and new residents.
Pew Study States In Fiscal Peril List
1. California
2. Illinois
3. Arizona
4. Nevada
5. New Jersey
6. Wisconsin
7. Florida
8. Rhode Island
9. Oregon
10. Michigan
Comment On This Story