Crisis

Economic Outlook  Experts predict that full economic recovery will likely not occur until at least 2021, though Florida is expected to start seeing some improvement as early as Q3 of this year. Analysis of the effects of the crisis on small businesses continues.   5/19/20 | Small business layoffs may have hit bottom: Study  5/19/20 | Bank of America’s CEO doesn’t see the US…

Note – As businesses begin to reopen, these updates will now be published weekly on Wednesdays. Economic Outlook  The stock market responds well to reopening efforts around the country, while businesses try to make the most of the new economic reality.  5/12/20 | Stocks Rise Slightly, Dow Up 100 Points As Reopening Of The Economy Continues  5/12/20 | Why The Pandemic…

Updated Data Reveals More About Economic Impact of COVID-19 Pandemic  From February to April, the U.S. unemployment rate rose from 3.5% to 14.7%, marking the highest unemployment rate since the Great Depression. This rate does not include those who are unemployed, but not actively looking for a new position. Additionally, April set a new record…

Governor DeSantis: South Florida Will Reopen Soon  Governor DeSantis has announced that South Florida counties excluded from reopening during the states’ “Phase 1” plan will be able to start reopening “soon”. He cited “good trends” in the counties, though did not provide a specific date for their reopening. This news comes after Palm…

White House COVID-19 Task Force to Wind Down, Shift Focus  Yesterday, President Trump announced that the White House COVID-19 Task Force would be winding down. Earlier today, he clarified that the task force will not be shut down, but will shift its focus to economic revitalization. According to Trump, the task force will now be focused…

New Record for COVID-19 Deaths in Florida  This morning’s updated numbers revealed a new record in statewide deaths relating to the COVID-19 pandemic, just a day after Florida’s reopening phase began. This marks the first day of the pandemic with over 100 deaths. Additionally, there were 542 additional confirmed COVID-19 cases.  DeSantis Reports on Unemployment Problems  Late yesterday, Governor DeSantis addressed problems…

“Phase 1” of Governor’s Reopen Florida Plan Begins Today The first phase of Governor DeSantis’ Reopen Florida plan began at 12:01 am this morning. Eligible businesses throughout Florida are now able to open at reduced capacity.These changes do not apply to businesses in Miami-Dade, Broward, and Palm Beach counties yet. Not included in…

Last Week’s Unemployment Numbers In: Nearly 4 Million More Americans Filed  Yesterday, the Department of Labor announced that 3.8 million Americans filed for unemployment benefits within the last week. The previous week saw a total of 4.4. million filers. Florida was the state with the most new claims: 326,000. See the report here.   Governor DeSantis: Parks to Reopen …

Federal Reserve Expands $600B Main Street Lending Program  Earlier today, the Federal Reserve expanded its $600B Main Street Lending Program. The minimum loan amount has been reduced to $500,000 to make the program available to small businesses. Additionally, larger businesses will now also qualify for the program, as companies with up to $5B in revenue can…

Governor DeSantis Announces Phase 1 of Reopening Florida Plan  Governor DeSantis has announced “Phase 1” of his plan to reopen Florida’s economy, which will begin on May 4. Florida schools will continue with distance learning and movie theaters, bars, gyms, salons, and barbers remain closed. Nonessential retail stores can reopen at 25% capacity and…