Economic Outlook As shutdowns continue to end around the country, positive trends for reopening are encouraging.However, some industries are faring better than others. 5/26/20 | May consumer confidence tops estimates as the US unwinds economic shutdowns 5/26/20 | Housing market heating up during COVID-19 pandemic 5/26/20 | Dow leaps…
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…
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…
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…
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…
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…
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…
“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…
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. …
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…