Chief Economist Says Florida’s Economic Outlook is Good

By: Edie Ousley

2020 FLORIDA ECONOMIC OUTLOOK

UNITING BUSINESS FOR GOOD IN 2020 WILL KEEP THE MOMENTUM GOING

Florida Expected to Continue Outpacing the Nation in Job Creation

Tallahassee, Fla. (January 9, 2020) – Uniting business for good in 2020 will keep the momentum going, and help ensure Florida continues to outpace the nation in job creation, according to the Florida Chamber Foundation’s 2020 Florida Economic Outlook.

Florida’s economic outlook is positive, according to Florida Chamber Foundation Chief Economist Dr. Jerry Parrish, and with rising consumer sentiment, he expects Florida to create 200,000 jobs this year. Dr. Parrish also projects Florida will see 900 net new people moving to Florida each day throughout 2020 – a number that dropped to 640 net new residents per day in 2019.

In more good news, Florida’s probability for a recession continues to decline – down to 21.2 percent on TheFloridaScorecard.org.

“Florida has 284,800 open jobs, and 323,000 people looking for jobs. Those 284,800 open jobs are more than a year’s supply. As we work to continue to get Floridians the skills they need, keep in mind that getting those jobs filled would have a monster economic impact on our state,” Parrish explained.

But, as Florida Chamber President and CEO Mark Wilson detailed, there are a few clouds on the horizon that pose threats to Florida’s economy, including $15 per hour mandated wages, lawsuit abuse, the Florida-only business rent tax and legislative signaling to defund tourism marketing efforts.

The Florida Chamber is the only state chamber in the country with a full-time economist, and the research and data produced is well-respected among state leaders.

What Others Are Saying:

“Understanding the underpinnings of Florida’s economy is vital to projecting a state’s future success. That’s why we look forward to the economic data produced by the Florida Chamber; it’s a vital resource in our decision-making process,” said Rick Harper, Ph.D., Economic Advisory, Triumph Gulf Coast.

“The Florida Chamber is the only state chamber in the country that has a full-time Chief Economist on staff. That’s because they put high value on providing members with the best economic resources to help grow Florida’s economy. At Bank of America, we’re pleased to call the Florida Chamber partners in securing Florida’s future,” said Doug Davidson, Market Executive, Global Commercial Banking, Bank of America.

“The Florida Chamber and Chief Economist Dr. Jerry Parrish are hands down among the very best at forecasting how Florida’s economy will perform. When the Florida Chamber speaks, people listen,” said Chris Westley, Ph.D., Dean – Lutgert School of Business, Florida Gulf Coast University.

Miss The Presentation?

Don’t worry, we’ve got you covered. Visit 2020 Florida Economic Outlook to:

  • Watch Dr. Parrish’s presentation,
  • Download his report, and
  • Sign up to receive the Florida Chamber’s 2020 Business Agenda.

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Established in 1916 as Florida’s first statewide business advocacy organization, the Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as critical to secure Florida’s future. The Florida Chamber works closely with its Florida Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.