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 for the underemployment rate, now at 22.8%. Since the pandemic started, over 33 million unemployment claims have been filed throughout the country. Florida’s increase in unemployment claims in 2020 is among the highest in the country at 3,650%.
Forbes Maintaining Updated Bankruptcy Tracker
Forbes is maintaining an updated list of major American companies that have filed for bankruptcy due to the pandemic. See the list here: https://www.forbes.com/sites/hanktucker/2020/05/03/coronavirus-bankruptcy-tracker-these-major-companies-are-failing-amid-the-shutdown/#1e00f8ef3425.
Yesterday: Changes to the SBA’s Economic Injury Disaster Loan Program
The Small Business Administration has made significant changes to its Economic Injury Disaster Loan Program. The maximum loan size is now $150,000, down from $2 million. Additionally, only applications from the agriculture industry are being reviewed. Congress allowed the EIDL program to replenish its funds last month with an additional $50 billion.
U.S. Representative Kathy Castor and County Commissioner Kimberly Overman Discuss $257M CARES Act Funds in Hillsborough
Yesterday, U.S. Representative Kathy Castor and County Commissioner Kimberly Overman discussed the plans for the $257 million allotted to Hillsborough County through the CARES Act. The funds will be divided into workforce training, back to work grants, Safer-at-Home migration grants, life safety programs, and an accelerated business recovery program.
Pinellas County Sheriff’s Office Launches Live Updates on County Beaches
This afternoon, the Pinellas County Sheriff’s Office will begin posting updates about county beaches here: www.pcsoweb.com/beachcapacity. The new website page will allow those interested in going to county beaches to see openings, closings, parking availability, and updates on capacity in real-time.
There have now been 39,199 cases throughout the state of Florida and 1,669 deaths. In Duval County, there have been 1,088 cases and 29 deaths. In Hillsborough County, there have been 1,371 cases and 37 deaths. In Orange County, there have been 1,478 cases and 35 deaths. In Pasco County, there have been 291 cases and 9 deaths. In Pinellas County, there have been 828 cases and 59 deaths. In Polk County, there have been 601 cases and 31 deaths. For updated data, visit: https://fdoh.maps.arcgis.com/apps/opsdashboard/index.html#/8d0de33f260d444c852a615dc7837c86.
Florida Department of Health: https://floridahealthcovid19.gov/
U.S. Chamber of Commerce: https://www.uschamber.com/coronavirus
Florida Chamber of Commerce: https://www.flchamber.com/follow-facts-not-fear/
Tampa Chamber of Commerce: https://www.tampabaychamber.com/Your-Chamber/Newsroom/coronavirus-updates.aspx
Jacksonville Chamber of Commerce: https://jaxchamber.com/coronavirusbusinessresources/
Lakeland Chamber of Commerce: https://www.lakelandchamber.com/covid-19-resources/
St. Pete Chamber of Commerce: https://www.stpete.com/resource-guide-for-coronavirus-covid-19/