Chances of a Recession in Florida Are Increasing

The odds of a recession have increased from 20.8 percent in April to 34.2 percent in July, according to the Florida Chamber of Commerce.

By Staff August 23, 2019

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The Florida Chamber of Commerce predicts that the probability of a recession in Florida within the next nine months has increased "substantially" since April of this year, from 20.8 percent to 34.2 percent, according to Dr. Jerry Parrish, chief economist at the Florida Chamber Foundation. Recent state jobs and employment numbers show that although Florida is a leader in job creation and job growth, and the state unemployment rate is down, the counties still struggling after Hurricane Michael lead the state in the percentage of jobs lost over the past year. "This doesn't mean we're destined to have a recession," Parrish adds, "but the reduction in business investment, along with the global slowdown, do increase the odds of it happening." 


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